Plain English Breakdown
Official source material did not provide specific details about the typo being corrected, so it was removed from the summary and what it does section.
Change in Rescission Period for Settlement Approvals
This amendment shortens the time an individual has to rescind approval of a settlement from 60 days to 30 days and fixes a typo.
What This Bill Does
- Changes the period during which someone can cancel their agreement to settle something from 60 days to 30 days.
Who It Names or Affects
- People who have agreed to settlements and need time to change their mind about it.
Terms To Know
- rescind
- To cancel or take back something that was previously approved or agreed upon.
- settlement
- An agreement reached between two parties to resolve a dispute without going to court.
Limits and Unknowns
- The bill does not specify what kind of settlements are affected.
- It is unclear if this change will affect existing agreements or only new ones.