32-1-1501. Definitions. For the purposes of this part, the following definitions apply: (1) ”Covered agency” means any of the following: (a) a federal, state, or local law enforcement agency; or (b) the department of public health and human services as provided in 2-15-2201 or its local affiliate. (2) ”Covered financial institution” means any bank, credit union, savings bank, savings and […]
32-1-1502. Notices. (1) A covered financial institution may notify any covered agency if the covered financial institution believes that the financial exploitation of an older person or a person with a developmental disability is occurring, has or may have occurred, is being attempted, or has been or may have been attempted. (2) A covered financial institution may […]
32-1-1503. Delaying transactions. (1) A covered financial institution may, but is not required to, delay completion or execution of a transaction involving an account of an older person or a person with a developmental disability, an account on which an older person or a person with a developmental disability is a beneficiary, an account in which […]
32-1-1504. Immunity. (1) (a) A covered financial institution and its directors, officers, employees, attorneys, accountants, agents, and other representatives have no duty to act pursuant to this part or otherwise to protect an older person or a person with a developmental disability from financial exploitation by a third person. (b) A covered financial institution and its directors, officers, […]
