Consumers in Crisis Protection Act.

The definition of 'attorney or accountant' was updated to include an exception for those providing services under G.S. 66-534, effectively exempting certain professionals from specific regulatory provisions.

The registration requirement was clarified to explicitly apply only to 'consumer legal funding companies' rather than any company operating in the state.

The bill version was updated from Edition 3 to Edition 4, and the committee substitute dates were revised to reflect the latest legislative actions.

The bill was renumbered from Chapter 58 to Chapter 66 and Article 94 to Article 53, changing the specific legal code location where the law resides.

The definition of 'household expenses' was updated to explicitly include 'family use,' allowing funds to be used for a broader range of family-related needs.

The definition of 'net proceeds' was changed to specify that associated costs and liens must be 'paid by the consumer' before being deducted, clarifying who bears the cost of these deductions.

The definition for 'Commissioner' was removed, and the definition for 'Legal claim' was modified to include claims that 'may be filed' rather than just those already filed.

Registration requirements were changed from a fee-based system with the Commissioner of Insurance to a system requiring a certificate of authority from the Secretary of State.

New requirements were added mandating that contracts be written in plain language and include specific acknowledgments regarding attorney representation and a 10-day right of rescission.

The definition of 'legal claim' was updated to specify that the claim must be filed in a state or federal court and must trigger obligations under G.S. 58-63-15(11) or related regulations.

The definition of 'net proceeds' was modified to explicitly list 'ERISA contractual rights of recovery' and 'valid health care provider liens' as costs and liens to be subtracted from the total recovery.

Header information regarding sponsors and referral dates was removed, likely to be updated by the Clerk of the House before final passage.

Created a new Article 94 in Chapter 58 to fully regulate consumer legal funding transactions instead of just addressing evidence rules.

Introduced new legal definitions for key terms including 'consumer legal funding company,' 'funded amount,' and 'net proceeds' to clarify the industry's boundaries.

Mandated that all consumer legal funding companies must register with the Commissioner of Insurance and pay a $1,000 fee every three years.

Provided exemptions from registration for immediate family members, banks, attorneys, and accountants who provide services to consumers.

Replaced the amendment text with full bill text including the short title, sponsors, and referral information for the 2025 session.

Removed the entire 'Consumers in Crisis Protection Act,' including all definitions, registration requirements, fees, and exemptions for the industry.

Changed the bill's purpose from regulating business practices to providing a procedural shield against disclosure in court.

Added a new statute stating that consumer legal funding contracts are presumed not discoverable and inadmissible as evidence in civil litigation.