New Hampshire Revised Statutes 383-A:5-511-a – Financial Exploitation of Vulnerable Adults
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I. For the purposes of this section, the following words shall have the following meaning unless the context clearly indicates otherwise:
(a) “Eligible adult” shall mean:
(i) A person 65 years of age or older; or
(ii) A person, 18 years of age or older, who is “vulnerable” as defined in N.H. Rev. Stat. § 161-F:43, VII.
(b) “Financial exploitation” shall mean:
(i) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of an eligible adult; or
(ii) Any act or ommission by a person whether direct or through the use of a power of attorney, guardianship, or conservatorship of an eligible adult, intended to:
(A) Obtain control over the eligible adult’s money, assets, or property through deception, intimidation, or undue influence, in order to deprive the eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or property; or
(B) Convert money, assets, or property of the eligible adult to deprive such eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or property.
(c) “Qualified individual” means any agent, employee, or person who serves in a supervisory, compliance, or legal capacity for a financial institution.
II. If a financial institution or qualified individual reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, the financial institution or qualified individual may promptly notify:
(a) The commissioner, provided nothing in this section shall affect the reporting requirements of RSA 161-F; and
(b) Any third party previously designated by the eligible adult, provided that disclosure shall not be made to any designated third party that is suspected of financial exploitation or other abuse of the eligible adult.
III. A qualified individual that, in good faith and exercising reasonable care, makes a disclosure of information pursuant to N.H. Rev. Stat. § 383-A:5-511-a, II shall be immune from administrative or civil liability that might otherwise arise from such disclosure or for any failure to notify the customer of the disclosure.
IV. A financial institution may delay a disbursement from an account of an eligible adult or an account on which an eligible adult is a beneficiary if the financial institution or qualified individual of the financial institution, reasonably believes, after initiating an internal review of the requested disbursement and the suspected financial exploitation, that the requested disbursement may result in financial exploitation of an eligible adult, and the financial institution or qualified individual:
(a) Provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account not more than 2 business days after the requested disbursement, unless any such party is reasonably believed to have engaged in suspected or attempted financial exploitation of the eligible adult;
(b) Provides notification of such delay to the department of health and human services with a copy of such notice to the commissioner, not more than 2 business days after the requested disbursement; and
(c) Continues its internal review of the suspected or attempted financial exploitation of the eligible adult, as necessary, and reports the investigation’s results to the commissioner within 7 business days after the day the financial institution or qualified individual first delayed disbursement of the funds.
V. No delay of a disbursement shall continue past the earlier of either:
(a) The time required by the financial institution or qualified individual to make a determination that the disbursement will not result in financial exploitation of the eligible adult; or
(b) Fifteen business days after the date on which the financial institution or qualified individual first delayed disbursement of the funds.
VI. A court of competent jurisdiction may enter an order extending the delay of the disbursement of funds or may order other protective relief upon the petition of the financial institution, or the qualified individual that initiated the delay under N.H. Rev. Stat. § 383-A:5-511-a, IV, or other interested party.
VII. A financial institution or qualified individual that, in good faith and exercising reasonable care, complies with N.H. Rev. Stat. § 383-A:5-511-a, IV and V shall be immune from any administrative or civil liability that might otherwise arise from such delay in a disbursement in accordance with this section.
VIII. A financial institution or qualified individual shall provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of an eligible adult to law enforcement, either as part of a referral to law enforcement, or upon request of law enforcement pursuant to an investigation. The records may include historical records as well as records relating to the most recent transaction that may comprise financial exploitation of an eligible adult. Any records made available to law enforcement under this section shall not be considered a “governmental record” as defined in RSA 91-A. Nothing in this provision shall limit or otherwise impede the authority of the commissioner to access or examine the books and records of financial institutions as otherwise provided by law.
(a) “Eligible adult” shall mean:
Terms Used In New Hampshire Revised Statutes 383-A:5-511-a
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- petition: when used in connection with the equity jurisdiction of the superior court, and referring to a document filed with the court, shall mean complaint, and "petitioner" shall mean plaintiff. See New Hampshire Revised Statutes 21:51
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
(i) A person 65 years of age or older; or
(ii) A person, 18 years of age or older, who is “vulnerable” as defined in N.H. Rev. Stat. § 161-F:43, VII.
(b) “Financial exploitation” shall mean:
(i) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of an eligible adult; or
(ii) Any act or ommission by a person whether direct or through the use of a power of attorney, guardianship, or conservatorship of an eligible adult, intended to:
(A) Obtain control over the eligible adult’s money, assets, or property through deception, intimidation, or undue influence, in order to deprive the eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or property; or
(B) Convert money, assets, or property of the eligible adult to deprive such eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or property.
(c) “Qualified individual” means any agent, employee, or person who serves in a supervisory, compliance, or legal capacity for a financial institution.
II. If a financial institution or qualified individual reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, the financial institution or qualified individual may promptly notify:
(a) The commissioner, provided nothing in this section shall affect the reporting requirements of RSA 161-F; and
(b) Any third party previously designated by the eligible adult, provided that disclosure shall not be made to any designated third party that is suspected of financial exploitation or other abuse of the eligible adult.
III. A qualified individual that, in good faith and exercising reasonable care, makes a disclosure of information pursuant to N.H. Rev. Stat. § 383-A:5-511-a, II shall be immune from administrative or civil liability that might otherwise arise from such disclosure or for any failure to notify the customer of the disclosure.
IV. A financial institution may delay a disbursement from an account of an eligible adult or an account on which an eligible adult is a beneficiary if the financial institution or qualified individual of the financial institution, reasonably believes, after initiating an internal review of the requested disbursement and the suspected financial exploitation, that the requested disbursement may result in financial exploitation of an eligible adult, and the financial institution or qualified individual:
(a) Provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account not more than 2 business days after the requested disbursement, unless any such party is reasonably believed to have engaged in suspected or attempted financial exploitation of the eligible adult;
(b) Provides notification of such delay to the department of health and human services with a copy of such notice to the commissioner, not more than 2 business days after the requested disbursement; and
(c) Continues its internal review of the suspected or attempted financial exploitation of the eligible adult, as necessary, and reports the investigation’s results to the commissioner within 7 business days after the day the financial institution or qualified individual first delayed disbursement of the funds.
V. No delay of a disbursement shall continue past the earlier of either:
(a) The time required by the financial institution or qualified individual to make a determination that the disbursement will not result in financial exploitation of the eligible adult; or
(b) Fifteen business days after the date on which the financial institution or qualified individual first delayed disbursement of the funds.
VI. A court of competent jurisdiction may enter an order extending the delay of the disbursement of funds or may order other protective relief upon the petition of the financial institution, or the qualified individual that initiated the delay under N.H. Rev. Stat. § 383-A:5-511-a, IV, or other interested party.
VII. A financial institution or qualified individual that, in good faith and exercising reasonable care, complies with N.H. Rev. Stat. § 383-A:5-511-a, IV and V shall be immune from any administrative or civil liability that might otherwise arise from such delay in a disbursement in accordance with this section.
VIII. A financial institution or qualified individual shall provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of an eligible adult to law enforcement, either as part of a referral to law enforcement, or upon request of law enforcement pursuant to an investigation. The records may include historical records as well as records relating to the most recent transaction that may comprise financial exploitation of an eligible adult. Any records made available to law enforcement under this section shall not be considered a “governmental record” as defined in RSA 91-A. Nothing in this provision shall limit or otherwise impede the authority of the commissioner to access or examine the books and records of financial institutions as otherwise provided by law.