Bill > H4395

This bill aims to protect vulnerable adults from financial exploitation. It establishes definitions for key terms like "eligible adult," "financial exploitation," and "qualified individual." The bill allows qualified individuals, such as financial advisors and brokers, to report suspected financial exploitation of eligible adults (those 60 years or older, or disabled persons) to the Secretary of the Commonwealth and appropriate state agencies. The bill provides immunity from liability for qualified individuals who make good faith reports or delay disbursements when they reasonably believe financial exploitation may be occurring. It also allows qualified individuals to notify designated third parties about suspected exploitation and requires financial firms to provide relevant records to investigating agencies. The bill gives state agencies and courts the authority to further delay disbursements or take other protective actions to prevent financial exploitation of eligible adults.