Chapter 874 Oregon Laws 2007

AN ACT

HB 3083

Relating to minors.

Be It Enacted by the People of the State of Oregon:

SECTION 1. (1) A person having legal custody of a minor may enter into a settlement agreement with a person against whom the minor has a claim if:

(a) A conservator has not been appointed for a minor;

(b) The total amount of the claim is $25,000 or less;

(c) The moneys paid under the settlement agreement will be deposited directly into a federally insured savings account in the sole name of the minor with notice of the deposit to the minor; and

(d) The person entering into the settlement agreement on behalf of the minor completes an affidavit or verified statement that attests that the person has made a reasonable inquiry and that:

(A) To the best of the person’s knowledge, the minor will be fully compensated by the settlement; or

(B) There is no practical way to obtain additional amounts from the party entering into the settlement agreement with the minor.

(2) If a settlement agreement is entered into in compliance with subsection (1) of this section, the signature of the person entering into the settlement agreement on behalf of the minor is binding on the minor without the need for further court approval or review and has the same force and effect as if the minor were a competent adult entering into the settlement agreement.

(3) A person acting in good faith on behalf of a minor under this section is not liable to the minor for the moneys paid in settlement or for any other claim arising out of the settlement.

Approved by the Governor July 31, 2007

Filed in the office of Secretary of State July 31, 2007

Effective date January 1, 2008

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