The bill amends Section 9-1-50 of the General Laws in Chapter 9-1, which pertains to causes of action related to settled claims. It establishes that when a claim is settled, the responsible party must make payment within thirty days from the date the claimant or the claimant's attorney sends the signed release. The bill allows for the signed release to be transmitted to the party responsible for paying the settlement or their attorney in electronic format. If payment is not made within the specified timeframe, it creates a presumption of willful disregard for the claimant's rights, making the payor liable for punitive damages and interest at a rate of twelve percent per annum until judgment is entered. The act is set to take effect immediately upon passage.

Statutes affected:
3197: 9-1-50