Section 7-11.2-1. – Short title — Rules of construction.

§ 7-11.2-1. Short title — Rules of construction. (a) This chapter shall be known as and may be cited as the “Senior Savings Protection Act.” (b) This chapter shall be liberally construed and applied to promote its underlying purposes and policy and to make uniform the laws with respect to the subject of this chapter […]

Section 7-11.2-2. – Definitions.

§ 7-11.2-2. Definitions. As used in this chapter, the following words and phrases shall have the following meanings unless the context otherwise requires: (1) “Agent” means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting […]

Section 7-11.2-3. – Notification of agencies and family members.

§ 7-11.2-3. Notification of agencies and family members. If a qualified individual reasonably believes that financial exploitation of a qualified adult has occurred, has been attempted, or is being attempted, the qualified individual shall notify the department of business regulation as well as the office of healthy aging and law enforcement in accordance with § […]

Section 7-11.2-4. – Refusal of request for disbursement.

§ 7-11.2-4. Refusal of request for disbursement. (a) A qualified individual may refuse a request for disbursement from the account of a qualified adult, or an account on which a qualified adult is a beneficiary or beneficial owner, if: (1) The qualified individual reasonably believes that the requested disbursement will result in financial exploitation of […]

Section 7-11.2-5. – Immunity from liability.

§ 7-11.2-5. Immunity from liability. Notwithstanding any other provision of law to the contrary, a broker-dealer, agent, or qualified individual who, in good faith and exercising reasonable care, complies with the provisions of this chapter shall be immune from any civil liability under this chapter. History of Section.P.L. 2019, ch. 225, § 1; P.L. 2019, […]

Section 7-11.2-6. – Website for training resources to prevent and detect financial exploitation.

§ 7-11.2-6. Website for training resources to prevent and detect financial exploitation. No later than July 1, 2020, the department of business regulation and the office of healthy aging shall develop and make available websites that include training resources to assist broker-dealers and agents in the prevention and detection of financial exploitation of qualified adults. […]