As used in this subchapter:(1) 'Annuity' means a fixed and periodic amount of moneys payable throughout the life of a person or for a temporary period;(2) 'Claim' means a civil cause of action and includes a claim made by or on behalf of a minor;(3) 'Conservator' means a person appointed or qualified by a court to manage the estate of an individual;(4) 'Guardian' means an individual who has legal custody of a minor or the state if the minor is in state custody;(5) 'Guardian ad litem' means an individual appointed by a court in which a particular proceeding is pending to represent a minor in that proceeding;(6) 'Minor' means an individual under eighteen (18) years of age;(7) 'Settlement' means an arrangement for payment of damages for personal injuries or sickness established by a settlement agreement or judgment in resolution of a claim; and(8) 'Settlement agreement' means an agreement, judgment, stipulation, or release embodying the terms of a settlement.Added by Act 2023, No. 468,§ 1, eff. 8/1/2023.
Arkansas Legal Code