NE LB341

Allows a person with legal custody of a minor to enter into settlement agreements up to $40,000 (excluding medical expense reimbursements, liens, attorney's fees, and court costs) without court approval or a conservator/guardian ad litem

Requires settlement funds to be deposited into accounts established under the Nebraska Uniform Transfers to Minors Act, an attorney's trust account, or an annuity with the minor as sole beneficiary, with withdrawals restricted until the minor turns 19, dies, or a court orders otherwise

Mandates the custodial adult complete an affidavit attesting the minor will be fully compensated or that no additional amounts can practically be obtained from the settling party

Provides liability protection for persons acting in good faith on behalf of minors, insurers transferring funds, financial institutions opening restricted accounts, and parties settling claims under the act

Defines "minor" as a person under 19 years of age and preserves the option to seek county court approval and oversight of settlements through guardianship or conservatorship proceedings