SB 977 - Trent, Curtis
Prohibits the funding of legal actions by foreign individuals and legal entities
Bill Details
Sponsor
LR Number
4463S.01I
Title
SB 977
House Handler
N/A
Journal Page
Effective Date
August 28, 2024
Committee
Current Status
Second Read and Referred S Insurance and Banking Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 977 - This act provides that no party in an action filed on or after August 28, 2024, shall receive funding from a foreign individual or foreign legal entity, as those terms are defined in the act, that is not a party to the action for some or all of the expenses, including attorney's fees, for the action. The provisions of this act shall not apply if:
(1) The party is an individual receiving funding from a foreign individual within the third degree of affinity or consanguinity;
(2) The party is a legal entity that is owned or controlled, in whole or in part, by a foreign legal entity which is providing the funding;
(3) All parties agree to allow funding by foreign individuals or foreign legal entities; or
(4) The court determines that in the interest of justice or in the interest of the parties there is good cause for the funding of the action by a foreign individual or foreign legal entity.
A party may seek discovery on information regarding the funding of the action upon a showing of good cause. Upon a showing that another party to the action has received funding for the action in violation of this section, the party may file a motion to dismiss and the court shall conduct a hearing within thirty days. Upon a determination that the provisions of this act have been violated, the court shall dismiss the action without prejudice and may order any other relief as may be appropriate.
KATIE O'BRIEN