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HB 467

Secretary of State - As introduced, allows a litigation financier that is not a business entity or partnership to withdraw its registration with the secretary of state by filing a form prescribed by the secretary of state, along with a filing fee of $20. - Amends TCA Title 47, Chapter 16.

114th Regular Session (2025-2026)

Allows non-entity litigation financiers to withdraw Tennessee registration by filing a form and paying $20, simplifying exit from regulatory oversight.

Withdrawn.
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Bill Summary · HB 467

Legislative bill overview

HB 467 permits litigation financiers that are not structured as business entities or partnerships to withdraw their registration with Tennessee's Secretary of State by submitting a prescribed form and paying a $20 filing fee. The bill modifies Tennessee Code Annotated Title 47, Chapter 16, which governs litigation financing regulations in the state.

Why is this important

Litigation financing—where third parties fund lawsuits in exchange for a portion of winnings—is a growing industry with significant implications for access to justice and litigation costs. This bill addresses administrative requirements for how non-traditional litigation financiers can exit the regulatory system, potentially affecting compliance and oversight of these financial arrangements in Tennessee courts.

Potential points of contention

  • Regulatory clarity gap: The bill allows withdrawal without specifying what happens to pending obligations, outstanding litigation funds, or client protections once a financier de-registers
  • Low administrative cost: The $20 fee may be considered insufficient to cover state administrative processing or enforcement costs
  • Unequal treatment: Different withdrawal procedures for entity versus non-entity litigation financiers could create inconsistent regulatory standards

Compiled from official sources — confirm details with the bill’s official record.

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