The Nebraska Statutory Thresholds for Settlements Involving Minors Act establishes standards and procedures for settling claims involving minors. Under this act, a person with legal custody of a minor can enter into a settlement agreement if certain conditions are met, including that the total claim amount does not exceed forty thousand dollars, and that a conservator or guardian ad litem has not been appointed for the minor. The act also requires the custodian to complete an affidavit attesting to the reasonableness of the settlement and outlines how the settlement funds should be managed, including provisions for attorney representation and the establishment of trust accounts for the minor's benefit.

Additionally, the act provides protections for individuals acting in good faith on behalf of minors, stating they will not be held liable for the settlement funds or any claims arising from the settlement. It also clarifies that the signature of the custodian on the settlement agreement is binding without the need for further court approval. The act defines a minor as a person under nineteen years of age and allows for the possibility of filing for guardianship or conservatorship if necessary.