Civil procedure; conserving monies obtained for or on behalf of persons under eighteen years of age in court proceedings; effective date.

This bill updates Oklahoma laws regarding how money recovered in court cases for minors is managed and protected. It raises the minimum amount of funds that must be set aside in a court-approved account from $1,000 to $1,500 and clarifies the rules for handling settlements up to $25,000. The legislation requires adults acting on behalf of minors to sign affidavits, mandates that banks provide deposit receipts, and establishes specific conditions under which these funds can be withdrawn before the child turns 18. Additionally, the bill provides legal protections for insurers and those who settle claims in good faith, while repealing previous statutes related to minor settlement thresholds.