05 LC 34
0360
House
Bill 763
By:
Representative Rice of the
51st
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 1 of Chapter 12 of Title 51 of the Official Code of Georgia
Annotated, relating to damages in torts generally, so as to provide for
compensation for plaintiffs when a contingency fee is involved; to provide for
related matters; to provide for an effective date and applicability; to repeal
conflicting opinions; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
1 of Chapter 12 of Title 51 of the Official Code of Georgia Annotated, relating
to damages in torts generally, is amended by inserting a new Code section
immediately following Code Section 51-12-6, relating to damages for injuries to
peace, happiness, or feelings, to read as follows:
"51-12-6.1.
(a)
In any civil action, whether in tort or in contract, for the recovery of damages
arising from a tortious injury, which involves a contingency fee, the plaintiff
shall be entitled to receive no less than the following amount of
compensation:
(1)
Seventy percent of the first $500,000.00 recovered;
(2)
Eighty percent of any amount over $500,000.00 up to the first $1 million
recovered; and
(3)
Ninety percent of any amount over $1 million recovered.
(b)
Such compensation amounts shall apply whether the recovery is by settlement,
arbitration, judgment, or otherwise, regardless of the number of defendants, and
shall be exclusive of reasonable and customary court costs relating to said
action."
SECTION
2.
This
Act shall become effective on July 1, 2005, and shall apply to all actions filed
on or after that date.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.