Bill Number: HF839
Title: Older Adult Financial Exploitation

Makes provisions related to the financial exploitation of adults age 65 and older and certain dependent adults. Requires brokers, investment advisors, and others to notify the Insurance Commissioner if they reasonably believe that financial exploitation has been done or attempted against an older adult or other eligible dependent adult. Establishes immunity for the results of such a notification and for the failure to notify the affected adult. Requires relevant records to be made available to law enforcement and the Insurance Commissioner. Allows for the notification of third parties, unless the third party is suspected of being responsible for the exploitation. Includes an appropriation for complaints. Requires the internal review of disbursements likely to lead to financial exploitation and allows disbursements to be delayed. Requires brokers and investment advisors to offer training on financial exploitation to qualified individuals. Makes a standing appropriation for investigations.

Status: Sent to Governor
Recent Action: 1/27 - Passed House Commerce Committee (23-0) 3/24 - Passed House (95-0) 4/21 - Passed Senate with amendment (46-0) 4/27 - Passed House as amended by Senate (93-0)
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Last Modified: 04/28/2021