Ark. Code Ann. § 16-131-203: Definitions

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.