Settlement agreements for minors-parental authorization.

This bill allows parents or guardians to legally settle claims on behalf of minors (without court approval) for amounts up to $25,000, provided specific conditions are met. It directly affects parents/guardians of minors who have claims (e.g., from accidents or injuries) but lack a court-appointed conservator. Key provisions include requiring a reasonable inquiry into the claim, an affidavit confirming the claim is ≤$25,000, and mandating funds be used solely for the minor’s benefit. Violations create a legal cause of action for the minor to sue mismanaging parents/guardians. The bill takes effect July 1, 2025.