Compromise of Disputed Claim Held by Minor

When a minor has a disputed claim for money against a third person, his father, or if his father is dead or has deserted or abandoned him, then his mother shall have the right to compromise such claim; but before the compromise is valid it must be approved by the Superior Court, upon the filing of a verified petition in writing. If the court approves the compromise it may direct that the money be paid to the father or mother of the minor, with or without the filing of a bond, or it may require a general guardian or guardian ad litem to be appointed, and the money to be paid to such guardian or guardian ad litem with or without a bond as in the discretion of the court seems to the best interests of the minor. The clerk of the court shall not charge any fee for filing the petition.