A BILL for an Act to create and enact a new chapter to title 13 of the North Dakota Century Code, relating to litigation financing; to provide a penalty; and to provide for application.

HB 1372 would create a new licensing system for litigation financiers in North Dakota, requiring them to obtain a license from the Commissioner of Financial Institutions. It defines key terms like "litigation financer" (entities funding lawsuits for a share of recovery) and "litigation financing contract," while exempting standard contingency fee agreements between lawyers and clients. The bill mandates written applications with specific details, $800 in non-refundable fees (including $400 for investigation), and public disclosure of all filings. This regulation directly affects businesses providing lawsuit funding, not individual consumers or legal representatives in standard cases.