SF0010

Official summary

Bill Summary - 25LSO-0129 Bill No.: SF0010 Effective: 7/1/2025 LSO No.: 25LSO-0129 Enrolled Act No.: SEA No. 0080 Chapter No.: 142 Prime Sponsor: Joint Judiciary Interim Committee Catch Title: Settlement agreements for minors-parental authorization. Has Report: No Subject: Establishing a settlement process for minors without court approval. Summary/Major Elements: This act establishes a process by which a parent, guardian, or conservator of a minor may enter into a settlement on behalf of the minor without first seeking court approval or establishing a guardianship or conservatorship for the minor. To proceed under the process established in this act, the settlement must be less than twenty‑five thousand dollars ($25,000.00), and the parent must affirm that the minor's claim does not exceed twenty‑five thousand dollars ($25,000.00) or that recovery on the claim would not exceed twenty‑five thousand dollars ($25,000.00). The act provides a cause of action to a minor against a parent or guardian who fails to manage or apply all settlement funds received or who fails to make a reasonable inquiry into the minor's claim before settling. This act amends the value of property that a parent may accept on a minor's behalf from three thousand dollars ($3,000.00) to twenty‑five thousand dollars ($25,000.00) and amends the value of property that may be paid or delivered to a minor from five thousand dollars ($5,000.00) to twenty‑five thousand dollars ($25,000.00). The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.