Kentucky 2024 Regular Session Status: In Committee 1 R cosponsors

SB 148 — AN ACT relating to nonrecourse consumer legal funding.

Last action — to Banking & Insurance (S)

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

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; direct that transactions made in compliance with the new subtitle on nonrecourse consumer legal funding are not champerty; establish penalties; direct that the new subtitle on nonrecourse consumer legal funding shall not restrict the powers or duties of the Attorney General; create a new section of KRS Chapter 365 to establish disclosure requirements; establish attorney communications and responsibilities; and direct that a nonrecourse consumer legal funding transactions is inadmissible as evidence; amend KRS 286.4-410, 360.010, and 372.060 to conform.

Bill Text

Action History

  1. to Banking & Insurance (S)

  2. to Committee on Committees (S)

  3. introduced in Senate

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 136 not signed on

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (136)

136 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance civil-rights
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Frequently asked questions

What does SB 148 do?
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; direct that transactions made in compliance with the new subtitle on nonrecourse consumer legal funding are not champerty; establish penalties; direct that the new subtitle on nonrecourse consumer legal funding shall not restrict the powers or duties of the Attorney General; create a new section of KRS Chapter 365 to establish disclosure requirements; establish attorney communications and responsibilities; and direct that a nonrecourse consumer legal funding transactions is inadmissible as evidence; amend KRS 286.4-410, 360.010, and 372.060 to conform.
Who sponsors SB 148?
SB 148 is sponsored by Phillip Wheeler (Republican) and J. Turner.
What is the current status of SB 148?
This bill died with 2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 148?
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Last checked for changes 2 months ago · updated continuously

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