MS HB864

Establishes the Mississippi Statutory Thresholds for Settlements Involving Minors Act to set standards and procedures for settling claims involving minors.

Allows persons with legal custody of a minor to settle claims for $25,000 or less (excluding medical expenses, liens, and attorney fees) without court approval, provided no conservator or guardian has been appointed and an affidavit is completed attesting the minor will be fully compensated or that no additional funds are available.

Requires settlement funds to be deposited into a federally insured restricted savings account in the minor's sole name or, if represented by an attorney, into the attorney's trust account before transfer to a restricted savings account; funds may only be withdrawn by court order, upon the minor reaching majority, or upon the minor's death.

Provides liability protection for persons acting in good faith on behalf of minors, including guardians, attorneys, and settling parties, from claims arising out of the settlement.

Establishes that signed settlement agreements complying with the act are binding on the minor without court approval and fully release all encompassed claims.