HB5244 - 104th General Assembly (2025-2026)

LITIGATION FINANCING ACT
Last Action
2/10/2026 - House: Referred to Rules Committee
House Sponsors
Rep. Dan Ugaste
Statutes Amended In Order of Appearance
New Act  
735 ILCS 5/2-1003  from Ch. 110, par. 2-1003
815 ILCS 505/2MMMM new  
Synopsis As Introduced
Creates the Litigation Financing Transparency Act. Provides that a person shall not engage in litigation financing in the State unless the person is registered as a litigation financier under the Act. Provides that, to register as a litigation financier, a person shall file a registration statement with the Department of Financial and Professional Regulation. Sets forth requirements for registration. Prohibits litigation financier from engaging in specified conduct. Sets forth required disclosures in litigation financing agreements. Provides that a violation of the Act constitutes an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Amends the Code of Civil Procedure. Provides that a party may obtain discovery of the existence and terms and conditions of a litigation financing agreement if it is the subject of or is involved in a pending action. Amends the Consumer Fraud and Deceptive Business Practices Act to make a conforming change.
Actions
DateChamberAction
2/05/2026HouseFiled with the Clerk by Rep. Dan Ugaste
2/10/2026HouseFirst Reading
2/10/2026HouseReferred to Rules Committee