South Carolina Code 35-1-800. Definitions
(1) "Agencies" means the Adult Protective Services Program in the Department of Social Services and the Securities Division of the Office of the Attorney General.
Terms Used In South Carolina Code 35-1-800
- Agent: means an individual, other than a broker- dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities, or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities. See South Carolina Code 35-1-102
- 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.
- Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See South Carolina Code 35-1-102
- Eligible adult: means :
(a) a person fifty-five years of age or older; or
(b) a vulnerable adult subject to § 43-35-10(11). See South Carolina Code 35-1-800 - Investment adviser: means a person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See South Carolina Code 35-1-102
- Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity. See South Carolina Code 35-1-102
- 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
- Qualified individual: means any agent, broker-dealer, investment adviser representative, investment adviser, or person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser. See South Carolina Code 35-1-800
(2) "Eligible adult" means:
(a) a person fifty-five years of age or older; or
(b) a vulnerable adult subject to § 43-35-10(11).
(3) "Financial exploitation" means:
(a) the wrongful or unauthorized taking, withholding, appropriation, or use of the money, assets, or property of an eligible adult; or
(b) any act or omission taken by a person, including through the use of a power of attorney, guardianship, or conservatorship of an eligible adult, to:
(i) obtain the control, use, or benefit, through deception, intimidation, or undue influence, or by the use of any scheme, device, or artifice to defraud, of the eligible adult’s money, assets, or property to deprive the eligible adult of the ownership, use, benefit, or possession of his money, assets, or property; or
(ii) convert the money, assets, or property of the eligible adult to deprive the eligible adult of the ownership, use, benefit, or possession of his money, assets, or property.
(4) "Qualified individual" means any agent, broker-dealer, investment adviser representative, investment adviser, or person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser.
(5) "Reasonably associated individual" means any person known to a qualified individual to be reasonably associated with an eligible adult or his account.