Tennessee Senate Bill SB1137

Tennessee 2025-2026 Regular Session

• Introduced: 2/6/25
• Engrossed: 3/10/25
• Enrolled: 4/16/25
• Passed: 4/24/25
• Chaptered: 4/29/25

Caption

AN ACT to amend Tennessee Code Annotated, Title 47, Chapter 16, relative to relative to litigation financiers.

Summary

SB1137 amends Tennessee’s litigation financier registration law in Title 47, Chapter 16. The bill makes a narrow procedural change for litigation financiers that are not business entities or partnerships: instead of the prior language, such a registrant may amend or withdraw its registration with the secretary of state by filing a prescribed form and paying a $20 filing fee. The measure does not create a new regulatory program or change the underlying rules governing litigation financing; it primarily updates the administrative process for maintaining or ending a registration. It applies to litigation financiers operating in Tennessee and affects the secretary of state’s filing procedures for those registrants.

Impact

The bill makes a targeted amendment to Tennessee Code Annotated § 47-16-103(c) by simplifying the process for certain litigation financiers to amend or withdraw registration. It replaces the prior statutory sentence with a clearer filing requirement and a specified $20 fee, affecting only non-business-entity and non-partnership registrants. The practical impact is limited to administrative compliance and state filing procedures, with no broader substantive change to litigation finance regulation.

Sentiment

The available voting history shows strong support for the bill. The Senate Commerce and Labor Committee recommended passage on a 7-0 vote, and the floor motion to adopt passed 30-0. No committee transcript is available, but the unanimous votes suggest the bill was viewed as a routine, noncontroversial administrative update rather than a contested policy change.

Contention

There is little evidence of controversy in the available record. Because the bill only adjusts the registration amendment/withdrawal process and sets a modest filing fee, any potential concern would likely be limited to administrative burden or the treatment of litigation financiers as a regulated industry. However, the unanimous committee and floor votes indicate no significant opposition was raised in the recorded proceedings.