A bill for an act regulating litigation financing contracts, and including effective date and applicability provisions.

SSB 1122, the "Litigation Financing Transparency and Consumer Protection Act," requires third-party litigation financiers to register with Iowa's Secretary of State before providing funding for lawsuits. It directly affects individuals (consumers) who seek lawsuit financing and the entities (including foreign entities) that offer such financing in exchange for a share of case proceeds. Key provisions mandate registration details like business addresses, contact information, and proof of legal standing, while explicitly excluding standard contingency-fee agreements between lawyers and clients. The bill aims to increase transparency and consumer protection in litigation financing by creating a regulatory framework for these financial arrangements.