§ 11-51-1001. Short Title

The short title of this part 10 is the “Protection of Vulnerable Adults from Financial Exploitation Act”. Source: L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1604, § 2, effective July 1.

§ 11-51-1002. Definitions

As used in this part 10, unless the context otherwise requires: “Broker-dealer” has the same meaning as in section 11-51-201 (2). “Eligible adult” means: A person seventy years of age or older; or An individual eighteen years of age or older who is susceptible to mistreatment or self-neglect because the individual is unable to perform […]

§ 11-51-1003. Governmental Disclosures – Immunity

If a qualified individual, while acting within the scope of employment, reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or may be or is being attempted, the broker-dealer or investment adviser shall promptly notify the commissioner of securities appointed pursuant to section 11-51-701. The securities commissioner shall […]

§ 11-51-1004. Third-Party Disclosures – Immunity

If a qualified individual, while acting within the scope of employment, reasonably believes that financial exploitation of an eligible adult may have occurred, been attempted, or may be or is being attempted, a qualified individual may notify any third party previously designated by or reasonably associated with the eligible adult. Disclosure may not be made […]

§ 11-51-1005. Delaying Disbursements – Immunity

A broker-dealer or investment adviser may delay a disbursement from an account of an eligible adult, or an account on which an eligible adult is a beneficiary, if: The broker-dealer or investment adviser, reasonably believes, after initiating an internal review of the requested disbursement and the suspected financial exploitation, that the requested disbursement may result […]

§ 11-51-1006. Immunity for Nondisclosure

A qualified individual who, in good faith and exercising reasonable care, fails to report pursuant to this part 10 is immune from any administrative, criminal, or civil liability for his or her failure to report. Source: L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1607, § 2, effective July 1.

§ 11-51-1007. Records

A broker-dealer or investment adviser shall provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of an eligible adult to agencies charged with administering state adult protective services laws and to law enforcement, either as part of a referral to the agency or to law enforcement, or […]

§ 11-51-1008. Multiple Duties to Report

Compliance with this part 10 does not discharge the duty of a mandatory reporter under section 18-6.5-108 to report mistreatment to a local law enforcement agency. Source: L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1607, § 2, effective July 1.