Mississippi Transparency in Consumer Legal Funding Act; enact.

An Act To Enact The Mississippi Transparency In Consumer Legal Funding Act; To Provide That The Purpose Of The Act Is To Promote Consumer Protections Related To Consumer Legal Funding Transactions; To Define Terms; To Provide Requirements For Legal Funding Contracts, Including Specific Disclosures; To Require All Consumer Legal Funding Contracts To Contain A Written Acknowledgement By The Attorney Retained In The Legal Claim That Attests To Certain Statements; To Provide For Failure To Make Required Acknowledgements; To Prohibit Prepayment Penalties Or Fees; To Prohibit Consumer Legal Funding Companies From Certain Actions; To Prohibit Attorneys And Their Immediate Family Members From Having A Financial Interest In A Consumer Legal Funding Company Offering Consumer Legal Funding To Consumers Who Have Retained Them; To Provide For Disclosure Of Information; To Provide For Execution Of Consumer Legal Funding Agreements; To Provide For Contracted Amounts; To Provide Penalties For Violations; To Provide For Assignability And Liens; To Prohibit Certain Communications From Being Discoverable; To Require Consumer Legal Funding Companies To Register With The Secretary Of State; To Provide Registration Processes; To Provide For Severability Of This Act; And For Related Purposes.