Bill > S2460

This bill aims to protect seniors and adults with disabilities from financial exploitation. It defines key terms like "financial exploitation," "eligible adult," and "qualified individual." The bill requires qualified individuals, such as financial institution employees, to promptly notify the Secretary of the Commonwealth and relevant adult protective services agencies if they have reasonable cause to believe financial exploitation has occurred, been attempted, or is being attempted. The bill also allows financial institutions to delay disbursements or transactions if they reasonably believe the transaction may result in the financial exploitation of an eligible adult. Additionally, the bill provides immunity from civil liability for qualified individuals who, in good faith and with reasonable care, comply with the bill's provisions, but it does not shield them from liability for participating in or aiding the financial exploitation of an eligible adult.

Budget and Finance, Business and Industry, Health and Social Services

https://malegislature.gov/Bills/193/S2460