Okla. Stat. tit. 12, § 12-83

under eighteen years of age in court proceedings.

A. Monies recovered in any court proceeding by a next friend or

guardian ad litem for or on behalf of a person who is less than

eighteen (18) years of age in excess of Twenty-five Thousand Dollars

($25,000.00) over sums sufficient for paying costs and expenses

including medical bills and attorney fees shall be deposited, by

order of the court, in one or more federally insured banking, credit

union or savings and loan institutions, a trust established for the

person approved by the court, or invested by a bank or trust company

having trust powers under federal or state law, approved by the

court; provided, that the court may approve a structured settlement,

by the terms of which the proceeds of a settlement may be invested

by the plaintiff or the defendant in an annuity to be paid to or for

the benefit of the minor by an insurance company licensed in this

state. If authorized by the court at the request of the next friend

or guardian ad litem, all or a portion of the recovered monies may

Oklahoma Statutes - Title 12. Civil Procedure Page 48

be deposited in an account pursuant to the Oklahoma College Savings

Plan Act with the minor designated as beneficiary of the account.

B. A minor’s parent or guardian may enter into a settlement

agreement outside of a court proceeding with a person against whom

the minor has a claim if a guardian ad litem, guardian, or

conservator has not been appointed for the minor, and the total

amount of the settlement proceeds is greater than One Thousand Five

Hundred Dollars ($1,500.00) and less than or equal to Twenty-five

Thousand Dollars ($25,000.00), after reduction from the total

settlement amount of all medical expenses, medical liens, all other

liens, and reasonable attorney fees and costs. Monies recovered

from such a settlement shall be deposited by the parent or guardian

in a savings account that accrues interest at one or more federally

insured banking, credit union, or savings and loan institutions; in

a trust established for the minor by a bank or trust company having

trust powers under state or federal law; or into a structured

settlement by the terms of which the proceeds of the settlement may

be invested in an annuity to be paid to or for the benefit of the

minor by an insurance company licensed in this state. All or a

portion of the recovered monies may also be deposited in an account

pursuant to the Oklahoma College Savings Plan Act with the minor

designated as the sole beneficiary of the account.

The parent or guardian acting on behalf of the person who is

less than eighteen (18) years of age shall complete an affidavit or

verified statement in conformity with this section. The parent or

guardian entering into the settlement agreement on behalf of the

minor shall retain a copy of the affidavit or verified statement for

the minor until the minor reaches the age of majority. If the minor

is represented by counsel, the attorney shall also retain in the

attorney file a copy of the affidavit or verified statement until

one (1) year after the minor attains eighteen (18) years of age.

Any federally insured banking, credit union, or savings and loan

institution receiving the monies for deposit shall complete a

receipt of deposit signed by an officer of the bank, credit union,

or savings and loan institution in conformity with subsection J of

this section. A federally insured banking, credit union, or savings

and loan institution may accept the affidavit without further

investigation and the bank, credit union, or savings and loan

institution shall not be liable to the minor or parent or guardian

provided the account is administered as set forth in the affidavit

and receipt of deposit provided for in this section.

C. Until the minor becomes eighteen (18) years of age,

withdrawals of monies from the account or accounts shall be solely
fidavit without further

investigation and the bank, credit union, or savings and loan

institution shall not be liable to the minor or parent or guardian

provided the account is administered as set forth in the affidavit

and receipt of deposit provided for in this section.

C. Until the minor becomes eighteen (18) years of age,

withdrawals of monies from the account or accounts shall be solely

pursuant to order of the court made in the case in which recovery

was had, or by filing an action if no case had previously been

filed, or upon the minor’s death. The district court shall have

jurisdiction over such action.

Oklahoma Statutes - Title 12. Civil Procedure Page 49

D. When an application for the order is made by a person who is

not represented by an attorney, the judge of the court shall prepare

the order.

E. If a legal guardian has been appointed for the minor prior

to any award of monies pursuant to this section, the legal guardian

may petition the district court in the county where the federally

insured funds are held for an order directing the bank, credit union

or savings and loan to transfer the funds to the legal guardian.

The district court may make the granting of the request to transfer

funds subject to reasonable safeguards.

F. If a settlement agreement is entered into in compliance with

subsection B of this section, the signature of the parent or

guardian entering into the settlement agreement on behalf of the

minor is binding on the minor without the need for court approval or

review and has the same force and effect as if the minor were a

competent adult entering into the settlement agreement.

G. A person acting in good faith on behalf of a minor pursuant

to subsection B of this section shall not be liable to the minor for

the monies paid in the settlement or for any other claim arising out

of the settlement.

H. Any person or entity against whom a minor has a claim that

settles the claim with a minor in good faith under this section

shall not be liable to the minor or the minor’s parent or guardian

for any claims arising from the settlement of the claim.

I. The minor’s parent or guardian shall complete an affidavit

or verified statement in substantial conformity with the applicable

provisions as follows:

"I, [Name of Affiant], being of lawful age and after being duly

sworn upon oath, state as follows:

1. I am the parent or guardian of [Name of minor child] ("XX"),

a minor child.

2. XX’s date of birth is MM-DD-YYYY.

3. [Briefly state when, where, and how the incident in question

occurred.]

4. [Briefly state how minor was injured in the incident,

describe his or her injuries, medical care received, if any, and how

they are doing today.]

5. As a result of the injuries sustained by XX in the incident

in question, I, individually and on behalf of XX, a minor, agreed to

settle the claims of XX against [Name of tortfeasor(s)], with their

insurer, [if any, provide the name of Third-Party Liability

Insurance Carrier(s)], in the amount of $XXXX; and with my UM/UIM

insurer, [if any, provide the name of First-Party-Liability

Insurance Carrier(s)], in the amount of $XXXX, [add additional

tortfeasor or first-party coverages where applicable] for a total

settlement in the amount of $XXXX.

Oklahoma Statutes - Title 12. Civil Procedure Page 50

6. I understand that all medical expenses, liens and

subrogation claims must be paid from the settlement: [List all

outstanding medical expenses, liens and subrogation providers and

the amounts.]

7. I understand that I (or another parent or guardian of the

minor) may be reimbursed from the settlement for medical expenses

that I or we have paid for the care or treatment of XX as a result

of injuries incurred by XX due to the subject incident as follows:

[List all relevant medical expenses of XX, paid for by a parent or

guardian, for which reimbursement is sought from the settlement.]
7. I understand that I (or another parent or guardian of the

minor) may be reimbursed from the settlement for medical expenses

that I or we have paid for the care or treatment of XX as a result

of injuries incurred by XX due to the subject incident as follows:

[List all relevant medical expenses of XX, paid for by a parent or

guardian, for which reimbursement is sought from the settlement.]

8. I understand that $XXXX will be paid from the settlement to

[Name of Firm/Attorney, if any] for attorney fees and costs in

securing the settlement pursuant to my contract with [Name of

Firm/Attorney].

9. I understand that pursuant to subsection B of Section 83 of

Title 12 of the Oklahoma Statutes, the net of XX’s settlement in the

amount of $XXXX must be deposited in a savings account that accrues

interest at one or more federally insured banking, credit union or

savings and loan institutions; in a trust established for XX, by a

bank or trust company having trust powers under state or federal

law; or into a structured settlement, by the terms of which the

proceeds of a settlement may be invested in an annuity to be paid to

or for the benefit of XX by an insurance company licensed in this

state. All or a portion of the recovered monies may be deposited in

an account pursuant to the Oklahoma College Savings Plan Act with XX

designated as a beneficiary of the account.

10. I understand that such funds may not be withdrawn, removed,

paid out, or transferred to anyone until XX is eighteen (18) years

of age, except pursuant to court order or upon the minor’s death.

When the minor XX reaches the age of eighteen (18) years, the funds

may be withdrawn, removed, paid out or transferred by the minor

without a court order.

11. I understand that I must deposit the funds, secure a

Receipt of Deposit from the bank, and if I am represented, to return

the Receipt of Deposit to my attorney. I must also advise the minor

of the settlement and the location of the settlement funds as soon

as the minor has the ability to understand its existence and at the

time the minor reaches eighteen (18) years of age.

12. I understand that should I not settle this matter on behalf

of the minor, I have the right to ask for a jury trial in this

matter, and that a jury may have awarded more, less, or the same

amount, but by settling XX’s claims, I am giving up this right to a

jury trial.

13. I understand that should I not settle this matter, or

pursue a jury trial on behalf of XX, XX would alternatively have a

right to bring a cause of action against [Name of Tortfeasor(s)]

within the one (1) year between XX’s 18th and 19th birthdays;

Oklahoma Statutes - Title 12. Civil Procedure Page 51

however, by settling this matter at this time on XX’s behalf, I am

waiving his or her right to bring a cause of action at that time,

and relatedly his or her opportunity to obtain a verdict through

jury trial.

14. I understand that by settling XX’s claims, whether for

already known or later-discovered additional injuries from the

subject incident and/or if XX requires future medical care, I will

not be able to open this claim or bring any future cause of action

against [Name of Tortfeasor(s) or their insurer(s)], [Name of

Insurance Carrier, if any], to request additional sums of money.

15. I believe this is a fair and reasonable settlement of XX’s

claim: that to the best of my knowledge the minor will be fully

compensated by the settlement, or there is no practical way to

obtain additional amounts from the other party/parties entering into

the settlement agreement.

16. I believe this settlement is in the best interests of XX.

17. I understand that this settlement is full and final; I have

not been coerced, pressured, or threatened into entering this

settlement in any way.

FURTHER AFFIANT SAYETH NOT.

______________________________

[Name of Affiant]

[Address of Affiant]

[Phone Number of Affiant]
r party/parties entering into

the settlement agreement.

16. I believe this settlement is in the best interests of XX.

17. I understand that this settlement is full and final; I have

not been coerced, pressured, or threatened into entering this

settlement in any way.

FURTHER AFFIANT SAYETH NOT.

______________________________

[Name of Affiant]

[Address of Affiant]

[Phone Number of Affiant]

I state under penalty of perjury under the laws of Oklahoma that the

foregoing is true and correct.

______________ ____________________________________________

Date Signature of Parent or Legal Guardian of XX

Approved as to form and content by:

[Attorney Name, if any]"

J. Any federally insured banking, credit union, or savings and

loan institution receiving the monies for deposit shall complete a

receipt of deposit referenced herein in conformity with the

following:

"RECEIPT OF DEPOSIT

The undersigned, an Officer of [Name of Bank], does hereby

acknowledge receipt of the Affidavit of [Name of Affiant], and that

$XXXXX was deposited for the benefit of the minor, XX.

It is understood that the funds so deposited, pursuant to provisions

under Section 83 of Title 12 of the Oklahoma Statutes, may not be

withdrawn, removed, paid out, or transferred by anyone until XX is

eighteen (18) years of age, except pursuant to court order or upon

the minor.3s death.

Oklahoma Statutes - Title 12. Civil Procedure Page 52

When XX reaches the age of eighteen (18) years of age, the funds may

be withdrawn, removed, paid out, or transferred by XX without court

order.

BY:

_______________________

______

Signature

_____________________________

Printed Name

_____________________________

Title

Subscribed and sworn to before me this ________ day of ___________,

20 .

_____________________________

Notary Public

My Commission Expires:

__________________________"