MS HB333

Allows persons with legal custody of minors to settle claims up to $25,000 (excluding medical reimbursements, liens, attorney fees, and costs) without court approval if a conservator or guardian ad litem has not been appointed.

Requires the custodian to complete an affidavit attesting that the minor will be fully compensated by the settlement or that no additional amounts are obtainable from the defendant.

Settlement funds must be deposited into federally insured savings accounts in the minor's sole name, or used to purchase an annuity with the minor as sole beneficiary; funds cannot be withdrawn until the minor turns 21, by court order, or upon the minor's death.

Provides liability protection for persons acting in good faith on behalf of the minor and for defendants who settle claims with minors under this section.

Requires attorneys holding settlement funds to maintain the custodian's affidavit in their file for two years after the minor reaches age 21.