Oklahoma 2022 Regular Session

Oklahoma House Bill HB3076 Compare Versions

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	30	+	April 12, 2022
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3	34		BILL NO. 3076 By: Culver of the House
4	35
5	36		and
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7	38		Brooks of the Senate
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14	43		An Act relating to settlements involving minors;
15	44		creating the Oklahoma Statutory Threshold s for
16	45		Settlements Involving M inors Act of 2022; prescribing
17	46		procedures for settling claims involving minors;
18	47		clarifying when a person with legal custody may enter
19	48		into a settlement agreement on behalf of a minor;
20	49		directing attorney representing mi nor to maintain
21	50		records; establishing how monies payable under a
22	51		settlement agreement must be paid; creating
23	52		exemptions for liability; providing for codification ;
24	53		and providing an effective date.
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28		-
29		-	SUBJECT: Settlements involving minors
30		-
31	57		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
32		-
33	58		SECTION 1. NEW LAW A new section of law to be codified
34	59		in the Oklahoma Statutes as Section 86 of Title 12, unless there is
35	60		created a duplication in numbering, reads as follows:
36		-
37	61		This act shall be known and may be cited as the "Oklahoma
38	62		Statutory Thresholds for Settlements Involving Minors Act of 2022".
39		-
40	63		SECTION 2. NEW LAW A new section of law to be codified
41	64		in the Oklahoma Statutes as Section 86.1 of Title 12, unless there
42	65		is created a duplication in numbering, reads as follows:
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44	93		A. A person having legal custody of a minor may enter into a
45	94		settlement agreement with a p arty against whom the minor has a claim
46		-	if: ENR. H. B. NO. 3076 Page 2
47		-
	95	+	if:
48	96		1. A conservator or guardian a d litem has not been appointed
49	97		for the minor;
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51	98		2. The total amount of the settlement, not including
52	99		reimbursement of medical expenses, liens, reasonable attorney fees,
53	100		and costs of suit, is Twenty-five Thousand Dollars ($25,000.00) or
54	101		less if paid in cash, check, draft, or if paid by the purchase of a
55	102		premium for an annuity;
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57	103		3. The monies paid under the settlement agreement will be paid
58	104		as set forth in subsections C and D of this section; and
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60	105		4. The person entering into the settlement agreement on behalf
61	106		of the minor completes an affidavit or verified statement that
62	107		attests that the person has made a reasonable inquiry and that:
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64	108		a. to the best of the person's knowledge, the minor will
65	109		be fully compensated by the settlement , or
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67	110		b. there is no practical way to obtain additional amounts
68	111		from the party entering into the settlement agreeme nt
69	112		with the minor.
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71	113		B. The attorney representing the person entering into the
72	114		settlement agreement on behalf of the minor, if any, shall maintain
73	115		the affidavit or verified statement completed under paragraph 4 of
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74	143		subsection A of this section in the attorne y file for two (2) years
75	144		after the minor attains eighteen (18) years of age.
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77	145		C. The monies payable under the settlement agreement must be
78	146		paid as follows:
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80	147		1. If the minor or person entering into the settlement
81	148		agreement on behalf of the minor is represen ted by an attorney and
82	149		the settlement is paid in cash, by check, draft, or by direct
83	150		deposit into the attorney trust account maintained pursuant to the
84	151		Rules of Professional Conduct applicable to management of client
85	152		trust accounts. The attorney shall deposit the monies received on
86	153		behalf of the minor directly into a federally insured savings
87	154		account that earns interest in the sole name of the minor, and
88	155		provide notice of the deposit to the minor and the person entering
89	156		into the settlement agreement on behalf of the minor. Notice shall
90	157		be delivered by personal service or first-class mail;
91		-	ENR. H. B. NO. 3076 Page 3
92	158		2. If the minor or guardian is not represented by an attorney
93	159		and the settlement is paid :
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95	160		a. in cash, or by check or draft, the monies shall be
96	161		deposited by the guardian directly into a federally
97	162		insured savings account that earns interest, in the
98	163		sole name of the minor , or
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100	164		b. by direct deposit, the minor or guardian shall provide
101	165		the person or entity with whom the minor has settled
102	166		the claim with the necessary information sufficient to
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103	194		complete an electronic transfer of settlement funds
104	195		within ten (10) business day s of the settlement into a
105	196		federally insured savings account that earns interest,
106	197		in the sole name of the minor . The notice of the
107	198		deposit to the minor of the electronic transfer of
108	199		funds shall be delivered by personal service or first-
109	200		class mail to the minor and guardian by the person or
110	201		entity against whom the minor has a claim that settles
111	202		the claim with the minor;
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113	203		3. If paid by purchase of an annuit y, by direct payment to the
114	204		provider of the annuity with the minor designated as the sole
115	205		beneficiary of the annuity; or
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117	206		4. If the minor is a ward of the state and the settlement is
118	207		paid in cash, or by check or draft directly into a trust account, or
119	208		subaccount of a trust account, established by the department
120	209		responsible for wards of the state, or similar state mechanism for
121	210		the purpose of receiving monies payable to the ward under the
122	211		settlement agreement and that earns interest for th e benefit of the
123	212		ward.
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125	213		D. The monies in the minor's savings account, trust account, or
126	214		trust subaccount established under subsection C of this section may
127	215		not be withdrawn, removed, paid out, or transferred to any person,
128	216		including the minor, except as follows:
	217	+	1. Pursuant to court order;
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130		-	1. Pursuant to court order;
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132	245		2. Upon the minor's attainment of eighteen (18) years of age;
133	246		or
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135	247		3. Upon the minor's death.
136		-	ENR. H. B. NO. 3076 Page 4
137	248		E. If a settlement agreement is entered into in compliance with
138	249		subsection A of this section, the signature of the person entering
139	250		into the settlement agreement on behalf of the minor is binding on
140	251		the minor without the need for further court approval or revi ew and
141	252		has the same force and effect as if the minor were a competent adult
142	253		entering into the settlement agreement.
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144	254		F. A person acting in good faith on behalf of a minor under
145	255		this section is not liable to the minor for the monies paid in
146	256		settlement or for any other claim arising out of the settlement.
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148	257		G. Any person or entity against whom a minor has a claim that
149	258		settles the claim with a minor i n good faith under this section
150	259		shall not be liable to the minor for any claims arising from the
151	260		settlement of the claim.
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153	261		SECTION 3. This act shall become effective November 1, 2022.
154		-	ENR. H. B. NO. 3076 Page 5
155		-	Passed the House of Representatives the 8th day of March, 2022.
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160		-	Presiding Officer of the House
161		-	of Representatives
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164		-	Passed the Senate the 28th day of April, 2022.
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169		-	Presiding Officer of the Senate
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173		-	OFFICE OF THE GOVERNOR
174		-	Received by the Office of the Governor this ____________________
175		-	day of ___________________, 20_______, at _______ o'clock _______ M.
176		-	By: _________________________________
177		-	Approved by the Governor of the State of Oklahoma this _____ ____
178		-	day of ___________________, 20_______, at _______ o'clock _______ M.
179		-
180		-
181		-	_________________________________
182		-	Governor of the State of Oklahoma
183		-
184		-	OFFICE OF THE SECRETARY OF STATE
185		-	Received by the Office of the Secretary of State this __________
186		-	day of ___________________, 20_______, at _______ o'clock _______ M.
187		-	By: _________________________________
188		-
	262	+	COMMITTEE REPORT BY: COMMITTEE ON JUDICIARY
	263	+	April 12, 2022 - DO PASS