§572. Person having parental authority; acts that may be performed without court approval

            A person having parental authority may perform the following acts without court approval:

            (1) Alienate any movable property of the minor if the sum to be received does not exceed fifteen thousand dollars.

            (2) Encumber any property of the minor as security for his obligation if the secured obligation does not exceed fifteen thousand dollars.

            (3) Compromise a cause of action of the minor if the sum or value of the property to be paid or received does not exceed fifteen thousand dollars, excluding court costs, attorney fees, and other expenses.

            (4) Make usual or customary donations of the corporeal, movable property of the minor, if the value of the minor's property transferred by the donation does not exceed one thousand dollars and the minor's property donated without court approval during parental authority does not exceed a total of fifteen thousand dollars.

            (5) Obligate the minor if the obligation does not exceed fifteen thousand dollars.

            Acts 1999, No. 524, §1; Acts 2015, No. 260, §3, eff. Jan. 1, 2016.