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Code · Louisiana · Title 9 — Civil Code-Ancillaries

RS 9:3580.3

308 words·~1 min read·/la/title-9/9-2295

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RS 9:3580.3
§3580.3. Disclosure of foreign third-party litigation funding and foreign source certification by foreign entities
A. In any civil action in which a foreign third-party litigation funder provides funds intended to defray litigation expenses or the financial impact of a negative judgment and the source or sources of its funding includes a foreign entity, the third-party litigation funder shall meet all of the following requirements:
(1)Disclose in writing to the attorney general the name, the address, and citizenship or the country of incorporation or registration of any foreign entity that has a right to receive or obligation to make any payment that is contingent on the outcome of the civil action, or portfolio that includes the civil action and involves the same counsel of record or affiliated counsel, by settlement, judgment, or otherwise.
(2)Disclose in writing to the attorney general the name, address, the citizenship or the country of incorporation or registration of any foreign entity that has received or is entitled to receive proprietary information or information affecting national security interests obtained as a result of the funding agreement for such civil action. This disclosure does not pertain to information received by a party to the action, counsel of record, or law firm of record.
(3)Produce to the attorney general a copy of any agreement creating a contingent right described in Paragraph
(1)or
(2)of this Subsection.
B.(1) The disclosure and certification required by this Section shall be made no later than thirty days after execution of any agreement or the date on which the civil action is filed.
(2)A party who enters into an agreement described in this Section after the date on which the civil action is filed shall make the disclosure required by this Section no later than thirty days after being served.
Acts 2024, No. 765, §1.
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