Kentucky House Bill 224 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on February 8 2023 - 25% progression, died in committee
Action: 2023-02-23 - to Judiciary (H)
Pending: House Judiciary Committee
Text: Latest bill text (Introduced) [PDF]

Establish Subtitle 13 of KRS Chapter 286 and create sections thereof to define terms; provide exemptions to the new subtitle on nonrecourse consumer legal funding; prohibit engaging in the business of nonrecourse consumer legal funding transactions without a license; establish licensing requirements; provide that nonrecourse consumer legal funding transactions are not loans and exempt them from statute relating to interest; establish requirements for nonrecourse consumer legal funding transaction contracts; prohibit certain actions by nonrecourse consumer legal funding companies; provide for attorney communications and responsibilities; provide that transactions made in compliance with the new subtitle on nonrecourse consumer legal funding are not champerty; establish penalties; provide that the new subtitle on nonrecourse consumer legal funding shall not restrict the powers or duties of the Attorney General; amend KRS 286.4-410, 360.010, and 372.060 to conform.

AN ACT relating to nonrecourse consumer legal funding.

Rep. Patrick Flannery [R]	Rep. Kevin Bratcher [R]	Rep. Steven Doan [R]	Rep. Jason Nemes [R]
Rep. Scott Sharp [R]

Date	Chamber	Action
2023-02-23	House	to Judiciary (H)
2023-02-08	House	to Committee on Committees (H)
2023-02-08	House	introduced in House

Type	Source
Summary	https://apps.legislature.ky.gov/record/23RS/hb224.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/23RS/hb224/orig_bill.pdf