HB 170 Passed to Streamline Settlements for Minors
It is not uncommon for a minor to receive a settlement in a lawsuit. To protect the minor’s interests, settlements above a certain amount must be approved by a court. HB 170, based on model legislation from the National Conference of Insurance Legislators, was passed in the 2022 legislative session to modernize KY’s laws involving settlements involving minors, This bill will allow more settlements to be made without court approval when both parties agree, saving on legal fees for all involved.
HB 170 was sponsored by Rep. Joe Fischer, and IIK worked with Rep. Fischer and the KY Justice Association to work out the terms of the updated law. The bill passed unanimously in each chamber before being signed into law by the Governor.