CIVIL/PROCEDURE: Provides relative to disclosure of financing agreements

HB 432 amends laws concerning third-party litigation financing, affecting companies that fund lawsuits, the individuals they fund, and their attorneys. It limits the amount litigation financers can recover to a share of the plaintiff's proceeds after attorney fees and costs are paid. The bill also makes the existence of these financing agreements discoverable in civil actions. Additionally, attorneys must disclose the financing contract and provide a copy to their clients within 30 days of being retained or entering the agreement. These provisions do not apply to nonprofit legal organizations offering pro bono services.