Secretary of State

Plain English Breakdown

The official status of the bill being withdrawn on February 10, 2025, leaves uncertainty regarding its current status and future implications.

Litigation Financier Registration Changes

This bill allows certain types of litigation financiers to withdraw their registration with the Tennessee Secretary of State by filing a specific form and paying a $20 fee.

What This Bill Does

• Allows non-business entities or partnerships that are litigation financiers to withdraw their registration from the state by filing a prescribed form.
• Requires these entities to pay a filing fee of $20 when withdrawing their registration.

Who It Names or Affects

• Litigation financiers that are not business entities or partnerships in Tennessee.

Terms To Know

litigation financier

A company or entity that provides financial support to people involved in lawsuits.

Limits and Unknowns

• The bill does not specify what happens if the filing fee is not paid.
• It only applies to certain types of litigation financiers, not all businesses.
• This bill was withdrawn on February 10, 2025, and its current status is unknown.

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

HOUSE BILL 467
By Reeves

SENATE BILL 543
By Stevens

SB0543
000680
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 47,
Chapter 16, relative to litigation financiers.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 47-16-103(c), is amended by
deleting the second sentence of the subsection and substituting:
A litigation financier that is not a business entity or partnership may amend or
withdraw its registration with the secretary of state by filing a form prescribed by
the secretary of state, along with a filing fee of twenty dollars ($20.00).
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.