Ohio "non-recourse" funding legislation

Anthony Sebok devoted one of his FindLaw commentaries earlier this week to what he terms “Ohio’s wisely correcting a mistake that was made by its Supreme Court five years ago.” ( Here )

“In 2003,” he writes, “in Ransman v. Interim Settlement Funding Corp. the Ohio high court held that the ‘non-recourse’ funding of litigation violated the common law of the state. This decision shut down an entire industry that had fulfilled an important social function. I argued five years ago that that decision was wrong. Now, Ohio has overruled the decision by legislation.” He devotes the rest of the article to a review of the new legislation, and “asks a few questions about its limited scope.”