(a) Notwithstanding any other law, a dealer or investment adviser:
(1) may place a hold on any transaction that involves an account of a vulnerable adult if the dealer or investment adviser:
(A) submits a report of suspected financial exploitation of the vulnerable adult to the commissioner and the department under § 4004.352(b); and
(B) has cause to believe the transaction is related to the suspected financial exploitation alleged in the report; and
(2) must place a hold on any transaction involving an account of a vulnerable adult if the hold is requested by the commissioner, the department, or a law enforcement agency.
(b) Subject to Subsection (c), a hold placed on any transaction under Subsection (a) expires on the 10th business day after the date the hold is placed.

(c) A dealer or investment adviser may extend a hold placed on any transaction under Subsection (a) for a period not to exceed 30 business days after the expiration of the period prescribed by Subsection (b) if requested by a state or federal agency or a law enforcement agency investigating the suspected financial exploitation. The dealer or investment adviser may also petition a court to extend a hold placed on any transaction under Subsection (a) beyond the period prescribed by Subsection (b). A court may enter an order extending or shortening a hold or providing other relief.
(d) Each dealer and investment adviser shall adopt internal policies, programs, plans, or procedures for placing a hold on a transaction involving an account of a vulnerable adult under Subsection (a).