Section 31-4-119 - Act violation - unenforceable contract(1) Any violation of this part by the litigation financer renders the litigation financing contract unenforceable by the litigation financer or any successor-in-interest to the litigation financing contract.(2) If a litigation financer charges a rate of interest that exceeds the rate of interest allowed under 31-1-107, the litigation financer shall be subject to a penalty for usury and an action to recover excessive interest as authorized under 31-1-108.Added by Laws 2023, Ch. 360,Sec. 11, eff. 1/1/2024, and applicable to any civil action or administrative proceeding pending on or commenced after 1/1/2024.