The bill amends Section 27-2.4-20.1 of the General Laws under the "Producer Licensing Act" to establish new procedures for the revocation or modification of property and casualty insurance producers' contracts. It declares that any change in producer compensation shall be considered a contract modification. The bill does not specify a required notice period for changes in compensation. The act is set to take effect immediately upon passage.

Statutes affected:
5160: 27-2.4-20.1