However, the statute requires that any funds from a settlement be paid directly as follows: (1) to the minor if, the minor is married; (2) to any person having the care and custody of the minor and with whom the minor resides; (3) to the guardian of the minor; or (4) to a financial institution (i.e., a bank) by making a deposit into a federally insured savings account that is held in the sole name of the minor. Notice of the bank deposit must be given to the minor.