ChangeBridge / Illinois / SB3812 Signed by Governor
SB3812 Senate Bill
Signed by Governor
2026-02-06

LAW FIRM OWNERSHIP

Amends the Attorney Act. Prohibits a private equity group, hedge fund, or any entity owned, operated, or controlled by a private equity group or hedge fund, including management services organizations, that is involved with a law firm or an attorney's practice from: (1) interfering with the professional judgment of attorneys in representing clients; (2) exercising control over or being delegated the power to own or determine the content of client records, select, hire, or terminate the employment of attorneys or allied legal staff in whole or in part based on competency or proficiency; or set competency or proficiency parameters for attorneys or allied legal staff; or (3) charging any fee to the attorney or law firm that is directly or indirectly based on the fees, revenues, or profits of the attorney or law firm. Prohibits an attorney from sharing legal fees directly or indirectly with an out-of-state alternative business structure unless: (1) the attorney is also licensed in the state in which the alternative business structure is approved; (2) the fees are compensation for providing legal services in that state; and (3) the law of that state is controlling under the Illinois Rules of Professional Conduct or a successor rule. Provides for the recovery of statutory damages, attorney's fees and costs, and injunctive or declaratory relief as a remedy for violation. Defines terms. Contains applicability provisions. Effective immediately.

Bill Details

State

Illinois

Session

104th General Assembly

Chamber

Senate

Committee

Assignments

Official Source

www.ilga.gov/Legislation/BillStatus?DocNum...

LegiScan

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Sponsors

Michael Hastings (Sen - D)

Action History

2026-03-27 S Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
2026-03-27 S Rule 3-9(a) / Re-referred to Assignments
2026-03-25 S Senate Committee Amendment No. 1 Postponed - Judiciary
2026-03-25 S Postponed - Judiciary
2026-03-24 S Senate Committee Amendment No. 1 Assignments Refers to Judiciary
2026-03-18 S Senate Committee Amendment No. 1 Referred to Assignments
2026-03-18 S Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael E. Hastings
2026-03-13 S Rule 2-10 Committee Deadline Established As March 27, 2026
2026-03-04 S Postponed - Judiciary
2026-02-24 S Assigned to Judiciary
2026-02-06 S Referred to Assignments
2026-02-06 S First Reading
2026-02-06 S Filed with Secretary by Sen. Michael E. Hastings

Committee Referrals

2026-02-06 S Assignments
2026-02-24 S Judiciary
2026-03-18 S Assignments
2026-03-24 S Judiciary
2026-03-27 S Assignments

Amendments

2026-03-19 Senate Amendment 001

Bill Text Versions

2026-02-06 Introduced

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