SS/HB 1531 - This act modifies provisions relating to contingency fee contracts entered into by the state and certain interpleader actions. Under this act, the fee that a private attorney retained by the state is entitled to receive is limited based on the amount that is recovered in the action. Furthermore, the total fee payable to all retained private attorneys in any matter that is the subject of a contingency fee contract shall not exceed $10 million, regardless of the number of actions, proceedings, or attorneys involved in the matter. Contingency fees shall only be payable from moneys that are actually received under a judgment or settlement agreement and shall not be based on any amount attributable to a fine or civil penalty.
These provisions are identical to SB 915 (2018) and to provisions in SCS/SB 1102 (2018), and are substantially similar to HB 1654 (2018) and HB 598 (2017).
This act provides that if an insurer files an action for interpleader and deposits the limits of coverage amount with the court, the insurer shall not be liable to any insured or defendant for an amount in excess of the insurer's contractual coverage limits in an interpleader or other action, provided that the insurer defends the insured in good faith from any claim for damages allegedly caused by the occurrence for which the limits of coverage are paid into the court. This act does not require the release or dismissal of a claim against the insured and also does not modify an insured's right to consent or control the defense of a claim.
These provisions are similar to SB 778 (2018) and to provisions in SCS/SB 1102 (2018).
JESSI JAMES