Kentucky
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House Bill 412

Actions | Amendments
Last Action floor amendment (1) filed
Title AN ACT relating to pre-settlement funding providers and making an appropriation therefor.
Bill Documents Bill
Bill Request Number 1522
Sponsor J. Bell
Summary of Original Version Create new sections of KRS Chapter 367, relating to consumer protection, to regulate the business of pre-settlement funding where funds are provided to a civil litigant and repaid only out of the proceeds of the lawsuit; include provisions that address required contractual disclosures and terms, prohibited activities by funding companies, registration of funding companies with the Attorney General, and enforcement authority within the Attorney General's office.
Index Headings of Original Version Attorney General - Pre-settlement funding, regulation of
Attorneys - Pre-settlement funding, regulation of
Civil Actions - Pre-settlement funding, regulation of
Civil Procedure - Pre-settlement funding, regulation of
Consumer Affairs - Pre-settlement funding, regulation of
Contracts - Pre-settlement funding, regulation of
Loans and Credit - Pre-settlement funding, regulation of
Trade Practices and Retailing - Pre-settlement funding, regulation of
Proposed Amendments House Committee Substitute 1
House Floor Amendment 1
House Floor Amendment 2
House Floor Amendment 3
Senate Floor Amendment 1
Votes Vote History

Actions

Top | Amendments
02/09/11
  • introduced in House
02/10/11
  • to Judiciary (H)
02/14/11
  • posted in committee
02/16/11
  • reported favorably, 1st reading, to Calendar with Committee Substitute
02/17/11
  • 2nd reading, to Rules
  • posted for passage in the Regular Orders of the Day for Friday, February 18, 2011
  • floor amendments (1) and (2) filed to Committee Substitute, floor amendment (3) filed
02/18/11
  • 3rd reading
  • floor amendment (2) defeated
  • passed 68-24 with Committee Substitute, floor amendment (1)
  • received in Senate
02/23/11
  • to Judiciary (S)
02/25/11
  • taken from Judiciary (S)
  • 1st reading
  • returned to Judiciary (S)
02/28/11
  • taken from Judiciary (S)
  • 2nd reading
  • returned to Judiciary (S)
  • floor amendment (1) filed

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Summary Amend to allow an attorney's expenses to take priority for repayment over the right of the funding provider to seek repayment.
Index Headings Attorney General - Pre-settlement funding, regulation of
Attorneys - Pre-settlement funding, regulation of
Civil Actions - Pre-settlement funding, regulation of
Civil Procedure - Pre-settlement funding, regulation of
Consumer Affairs - Pre-settlement funding, regulation of
Contracts - Pre-settlement funding, regulation of
Loans and Credit - Pre-settlement funding, regulation of
Trade Practices and Retailing - Pre-settlement funding, regulation of

Amendment House Floor Amendment 1
Sponsor T. Kerr
Summary Amend to exempt regulated financial institutions from the bill; limit its coverage to only those civil actions arising from personal injury or property loss.
Index Headings Attorney General - Pre-settlement funding, regulation of
Attorneys - Pre-settlement funding, regulation of
Civil Actions - Pre-settlement funding, regulation of
Civil Procedure - Pre-settlement funding, regulation of
Consumer Affairs - Pre-settlement funding, regulation of
Contracts - Pre-settlement funding, regulation of
Loans and Credit - Pre-settlement funding, regulation of
Trade Practices and Retailing - Pre-settlement funding, regulation of

Amendment House Floor Amendment 2
Sponsor J. Hoover
Summary Amend Section 2 to cap the combination of all fees, interest, premiums, or other charges by the pre-settlement funding provider to the consumer at an annual percentage rate of thirty-six percent (36%) .
Index Headings Attorney General - Pre-settlement funding, regulation of
Attorneys - Pre-settlement funding, regulation of
Civil Actions - Pre-settlement funding, regulation of
Civil Procedure - Pre-settlement funding, regulation of
Consumer Affairs - Pre-settlement funding, regulation of
Contracts - Pre-settlement funding, regulation of
Loans and Credit - Pre-settlement funding, regulation of
Trade Practices and Retailing - Pre-settlement funding, regulation of

Amendment House Floor Amendment 3
Sponsor J. Hoover
Summary Amend Section 2 to cap the combination of all fees, interest, premiums, or other charges by the pre-settlement funding provider to the consumer at an annual percentage rate of thirty-six percent (36%) .
Index Headings Attorney General - Pre-settlement funding, regulation of
Attorneys - Pre-settlement funding, regulation of
Civil Actions - Pre-settlement funding, regulation of
Civil Procedure - Pre-settlement funding, regulation of
Consumer Affairs - Pre-settlement funding, regulation of
Contracts - Pre-settlement funding, regulation of
Loans and Credit - Pre-settlement funding, regulation of
Trade Practices and Retailing - Pre-settlement funding, regulation of

Amendment Senate Floor Amendment 1
Sponsor J. Denton
Summary Amend Section 2 to cap the combination of all fees, interest, premiums, or other charges by the pre-settlement funding provider to the consumer at an annual percentage rate of 36 percent.
Index Headings Attorney General - Pre-settlement funding, regulation of
Attorneys - Pre-settlement funding, regulation of
Civil Actions - Pre-settlement funding, regulation of
Civil Procedure - Pre-settlement funding, regulation of
Consumer Affairs - Pre-settlement funding, regulation of
Contracts - Pre-settlement funding, regulation of
Loans and Credit - Pre-settlement funding, regulation of
Trade Practices and Retailing - Pre-settlement funding, regulation of

Last updated: 1/16/2019 3:43 PM (EST)