Bill > H4124

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," and outlines the responsibilities of financial institutions and their employees. The bill requires qualified individuals, such as bank employees, to promptly notify the Secretary of the Commonwealth and relevant adult protective services agencies if they believe financial exploitation may have occurred, been attempted, or is being attempted. It also allows financial institutions to delay disbursements or transactions if they have reasonable cause to believe the eligible adult may be exploited, and requires them to provide relevant records to authorities investigating suspected exploitation. The bill provides immunity from civil liability for qualified individuals who act in good faith and with reasonable care, but does not shield them from liability for participating in or aiding the financial exploitation of an eligible adult.

Budget and Finance, Business and Industry

https://malegislature.gov/Bills/193/H4124