3500. (a) When a minor has a disputed claim for damages, money, or
other property and does not have a guardian of the estate, the
following persons have the right to compromise, or to execute a
covenant not to sue on or a covenant not to enforce judgment on, the
claim, unless the claim is against such person or persons:
(1) Either parent if the parents of the minor are not living
separate and apart.
(2) The parent having the care, custody, or control of the minor
if the parents of the minor are living separate and apart.
(b) The compromise or covenant is valid only after it has been
approved, upon the filing of a petition, by the superior court of
either of the following counties:
(1) The county where the minor resides when the petition is filed.
(2) Any county where suit on the claim or matter properly could be
(c) Any money or other property to be paid or delivered for the
benefit of the minor pursuant to the compromise or covenant shall be
paid and delivered in the manner and upon the terms and conditions
specified in Chapter 4 (commencing with Section 3600).
(d) A parent having the right to compromise the disputed claim of
the minor under this section may execute a full release and
satisfaction, or execute a covenant not to sue on or a covenant not
to enforce judgment on the disputed claim, after the money or other
property to be paid or delivered has been paid or delivered as
provided in subdivision (c). If the court orders that all or any part
of the money to be paid under the compromise or covenant be
deposited in an insured account in a financial institution in this
state, or in a single-premium deferred annuity, the release and
satisfaction or covenant is not effective for any purpose until the
money has been deposited as directed in the order of the court.