104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB1389 Introduced 1/29/2025, by Sen. Mike Simmons SYNOPSIS AS INTRODUCED: 320 ILCS 20/2 from Ch. 23, par. 6602320 ILCS 20/2.5 new Amends the Adult Protective Services Act. Expands the list of mandated reporters under the Act to include broker-dealers and officers, managers, and employees of financial institutions. Provides that financial exploitation of an adult with disabilities or a person aged 60 or older occurs when a person or entity (i) takes, secretes, appropriates, obtains, or retains real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; (ii) assists in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; (iii) knowingly aids and abets in the taking, secreting, appropriating, obtaining, or retaining of real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; or (iv) takes, secretes, appropriates, obtains, or retains, or assists in taking, secreting, appropriating, obtaining, or retaining, real or personal property of an eligible adult by undue influence. Sets forth when a financial institution or an officer, manager, or employee of a financial institution, a broker-dealer, or an investment adviser is deemed to have assisted in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult. Sets forth when all other mandated reporters are deemed to have assisted in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult. Exempts from liability nonsupervisory employees of a financial institution. Contains other provisions. LRB104 10854 KTG 20936 b A BILL FOR 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB1389 Introduced 1/29/2025, by Sen. Mike Simmons SYNOPSIS AS INTRODUCED: 320 ILCS 20/2 from Ch. 23, par. 6602320 ILCS 20/2.5 new 320 ILCS 20/2 from Ch. 23, par. 6602 320 ILCS 20/2.5 new Amends the Adult Protective Services Act. Expands the list of mandated reporters under the Act to include broker-dealers and officers, managers, and employees of financial institutions. Provides that financial exploitation of an adult with disabilities or a person aged 60 or older occurs when a person or entity (i) takes, secretes, appropriates, obtains, or retains real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; (ii) assists in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; (iii) knowingly aids and abets in the taking, secreting, appropriating, obtaining, or retaining of real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; or (iv) takes, secretes, appropriates, obtains, or retains, or assists in taking, secreting, appropriating, obtaining, or retaining, real or personal property of an eligible adult by undue influence. Sets forth when a financial institution or an officer, manager, or employee of a financial institution, a broker-dealer, or an investment adviser is deemed to have assisted in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult. Sets forth when all other mandated reporters are deemed to have assisted in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult. Exempts from liability nonsupervisory employees of a financial institution. Contains other provisions. LRB104 10854 KTG 20936 b LRB104 10854 KTG 20936 b A BILL FOR
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB1389 Introduced 1/29/2025, by Sen. Mike Simmons SYNOPSIS AS INTRODUCED:
320 ILCS 20/2 from Ch. 23, par. 6602320 ILCS 20/2.5 new 320 ILCS 20/2 from Ch. 23, par. 6602 320 ILCS 20/2.5 new
320 ILCS 20/2 from Ch. 23, par. 6602
320 ILCS 20/2.5 new
Amends the Adult Protective Services Act. Expands the list of mandated reporters under the Act to include broker-dealers and officers, managers, and employees of financial institutions. Provides that financial exploitation of an adult with disabilities or a person aged 60 or older occurs when a person or entity (i) takes, secretes, appropriates, obtains, or retains real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; (ii) assists in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; (iii) knowingly aids and abets in the taking, secreting, appropriating, obtaining, or retaining of real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; or (iv) takes, secretes, appropriates, obtains, or retains, or assists in taking, secreting, appropriating, obtaining, or retaining, real or personal property of an eligible adult by undue influence. Sets forth when a financial institution or an officer, manager, or employee of a financial institution, a broker-dealer, or an investment adviser is deemed to have assisted in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult. Sets forth when all other mandated reporters are deemed to have assisted in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult. Exempts from liability nonsupervisory employees of a financial institution. Contains other provisions.
LRB104 10854 KTG 20936 b LRB104 10854 KTG 20936 b
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A BILL FOR
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1 AN ACT concerning aging.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Adult Protective Services Act is amended by
5 changing Section 2 and by adding Section 2.5 as follows:
6 (320 ILCS 20/2) (from Ch. 23, par. 6602)
7 Sec. 2. Definitions. As used in this Act, unless the
8 context requires otherwise:
9 (a) "Abandonment" means the desertion or willful forsaking
10 of an eligible adult by an individual responsible for the care
11 and custody of that eligible adult under circumstances in
12 which a reasonable person would continue to provide care and
13 custody. Nothing in this Act shall be construed to mean that an
14 eligible adult is a victim of abandonment because of health
15 care services provided or not provided by licensed health care
16 professionals.
17 (a-1) "Abuse" means causing any physical, mental or sexual
18 injury to an eligible adult, including exploitation of such
19 adult's financial resources, and abandonment or subjecting an
20 eligible adult to an environment which creates a likelihood of
21 harm to the eligible adult's health, physical and emotional
22 well-being, or welfare.
23 Nothing in this Act shall be construed to mean that an
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB1389 Introduced 1/29/2025, by Sen. Mike Simmons SYNOPSIS AS INTRODUCED:
320 ILCS 20/2 from Ch. 23, par. 6602320 ILCS 20/2.5 new 320 ILCS 20/2 from Ch. 23, par. 6602 320 ILCS 20/2.5 new
320 ILCS 20/2 from Ch. 23, par. 6602
320 ILCS 20/2.5 new
Amends the Adult Protective Services Act. Expands the list of mandated reporters under the Act to include broker-dealers and officers, managers, and employees of financial institutions. Provides that financial exploitation of an adult with disabilities or a person aged 60 or older occurs when a person or entity (i) takes, secretes, appropriates, obtains, or retains real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; (ii) assists in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; (iii) knowingly aids and abets in the taking, secreting, appropriating, obtaining, or retaining of real or personal property of an eligible adult for a wrongful use or with intent to defraud, or both; or (iv) takes, secretes, appropriates, obtains, or retains, or assists in taking, secreting, appropriating, obtaining, or retaining, real or personal property of an eligible adult by undue influence. Sets forth when a financial institution or an officer, manager, or employee of a financial institution, a broker-dealer, or an investment adviser is deemed to have assisted in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult. Sets forth when all other mandated reporters are deemed to have assisted in taking, secreting, appropriating, obtaining, or retaining real or personal property of an eligible adult. Exempts from liability nonsupervisory employees of a financial institution. Contains other provisions.
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A BILL FOR
320 ILCS 20/2 from Ch. 23, par. 6602
320 ILCS 20/2.5 new
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1 eligible adult is a victim of abuse, abandonment, neglect, or
2 self-neglect for the sole reason that he or she is being
3 furnished with or relies upon treatment by spiritual means
4 through prayer alone, in accordance with the tenets and
5 practices of a recognized church or religious denomination.
6 Nothing in this Act shall be construed to mean that an
7 eligible adult is a victim of abuse because of health care
8 services provided or not provided by licensed health care
9 professionals.
10 Nothing in this Act shall be construed to mean that an
11 eligible adult is a victim of abuse in cases of criminal
12 activity by strangers, telemarketing scams, consumer fraud,
13 internet fraud, home repair disputes, complaints against a
14 homeowners' association, or complaints between landlords and
15 tenants.
16 (a-5) "Abuser" means a person who is a family member,
17 caregiver, or another person who has a continuing relationship
18 with the eligible adult and abuses, abandons, neglects, or
19 financially exploits an eligible adult.
20 (a-6) "Adult with disabilities" means a person aged 18
21 through 59 who resides in a domestic living situation and
22 whose disability as defined in subsection (c-5) impairs his or
23 her ability to seek or obtain protection from abuse,
24 abandonment, neglect, or exploitation.
25 (a-7) "Broker-dealer" means any person engaged in the
26 business of effecting transactions in securities in this State
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1 for the account of others or for that person's own account and
2 who is registered with the United States Securities and
3 Exchange Commission.
4 (a-10) (a-7) "Caregiver" means a person who either as a
5 result of a family relationship, voluntarily, or in exchange
6 for compensation has assumed responsibility for all or a
7 portion of the care of an eligible adult who needs assistance
8 with activities of daily living or instrumental activities of
9 daily living.
10 (b) "Department" means the Department on Aging of the
11 State of Illinois.
12 (c) "Director" means the Director of the Department.
13 (c-5) "Disability" means a physical or mental disability,
14 including, but not limited to, a developmental disability, an
15 intellectual disability, a mental illness as defined under the
16 Mental Health and Developmental Disabilities Code, or dementia
17 as defined under the Alzheimer's Disease Assistance Act.
18 (d) "Domestic living situation" means a residence where
19 the eligible adult at the time of the report lives alone or
20 with his or her family or a caregiver, or others, or other
21 community-based unlicensed facility, but is not:
22 (1) A licensed facility as defined in Section 1-113 of
23 the Nursing Home Care Act;
24 (1.5) A facility licensed under the ID/DD Community
25 Care Act;
26 (1.6) A facility licensed under the MC/DD Act;
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1 (1.7) A facility licensed under the Specialized Mental
2 Health Rehabilitation Act of 2013;
3 (2) A "life care facility" as defined in the Life Care
4 Facilities Act;
5 (3) A home, institution, or other place operated by
6 the federal government or agency thereof or by the State
7 of Illinois;
8 (4) A hospital, sanitarium, or other institution, the
9 principal activity or business of which is the diagnosis,
10 care, and treatment of human illness through the
11 maintenance and operation of organized facilities
12 therefor, which is required to be licensed under the
13 Hospital Licensing Act;
14 (5) A "community living facility" as defined in the
15 Community Living Facilities Licensing Act;
16 (6) (Blank);
17 (7) A "community-integrated living arrangement" as
18 defined in the Community-Integrated Living Arrangements
19 Licensure and Certification Act or a "community
20 residential alternative" as licensed under that Act;
21 (8) An assisted living or shared housing establishment
22 as defined in the Assisted Living and Shared Housing Act;
23 or
24 (9) A supportive living facility as described in
25 Section 5-5.01a of the Illinois Public Aid Code.
26 (e) "Eligible adult" means either an adult with
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1 disabilities aged 18 through 59 or a person aged 60 or older
2 who resides in a domestic living situation and is, or is
3 alleged to be, abused, abandoned, neglected, or financially
4 exploited by another individual or who neglects himself or
5 herself. "Eligible adult" also includes an adult who resides
6 in any of the facilities that are excluded from the definition
7 of "domestic living situation" under paragraphs (1) through
8 (9) of subsection (d), if either: (i) the alleged abuse,
9 abandonment, or neglect occurs outside of the facility and not
10 under facility supervision and the alleged abuser is a family
11 member, caregiver, or another person who has a continuing
12 relationship with the adult; or (ii) the alleged financial
13 exploitation is perpetrated by a family member, caregiver, or
14 another person who has a continuing relationship with the
15 adult, but who is not an employee of the facility where the
16 adult resides.
17 (f) "Emergency" means a situation in which an eligible
18 adult is living in conditions presenting a risk of death or
19 physical, mental or sexual injury and the provider agency has
20 reason to believe the eligible adult is unable to consent to
21 services which would alleviate that risk.
22 (f-1) "Financial exploitation" means the use of an
23 eligible adult's resources by another to the disadvantage of
24 that adult or the profit or advantage of a person other than
25 that adult.
26 (f-3) "Investment advisor" means any person required to
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1 register as an investment adviser or investment adviser
2 representative under Section 8 of the Illinois Securities Law
3 of 1953, which for purposes of this Act excludes any bank,
4 trust company, savings bank, or credit union, or their
5 respective employees.
6 (f-5) "Mandated reporter" means any of the following
7 persons while engaged in carrying out their professional
8 duties:
9 (1) a professional or professional's delegate while
10 engaged in: (i) social services, (ii) law enforcement,
11 (iii) education, (iv) the care of an eligible adult or
12 eligible adults, or (v) any of the occupations required to
13 be licensed under the Behavior Analyst Licensing Act, the
14 Clinical Psychologist Licensing Act, the Clinical Social
15 Work and Social Work Practice Act, the Illinois Dental
16 Practice Act, the Dietitian Nutritionist Practice Act, the
17 Marriage and Family Therapy Licensing Act, the Medical
18 Practice Act of 1987, the Naprapathic Practice Act, the
19 Nurse Practice Act, the Nursing Home Administrators
20 Licensing and Disciplinary Act, the Illinois Occupational
21 Therapy Practice Act, the Illinois Optometric Practice Act
22 of 1987, the Pharmacy Practice Act, the Illinois Physical
23 Therapy Act, the Physician Assistant Practice Act of 1987,
24 the Podiatric Medical Practice Act of 1987, the
25 Respiratory Care Practice Act, the Professional Counselor
26 and Clinical Professional Counselor Licensing and Practice
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1 Act, the Illinois Speech-Language Pathology and Audiology
2 Practice Act, the Veterinary Medicine and Surgery Practice
3 Act of 2004, and the Illinois Public Accounting Act;
4 (1.5) an employee of an entity providing developmental
5 disabilities services or service coordination funded by
6 the Department of Human Services;
7 (2) an employee of a vocational rehabilitation
8 facility prescribed or supervised by the Department of
9 Human Services;
10 (3) an administrator, employee, or person providing
11 services in or through an unlicensed community based
12 facility;
13 (4) any religious practitioner who provides treatment
14 by prayer or spiritual means alone in accordance with the
15 tenets and practices of a recognized church or religious
16 denomination, except as to information received in any
17 confession or sacred communication enjoined by the
18 discipline of the religious denomination to be held
19 confidential;
20 (5) field personnel of the Department of Healthcare
21 and Family Services, Department of Public Health, and
22 Department of Human Services, and any county or municipal
23 health department;
24 (6) personnel of the Department of Human Services, the
25 Guardianship and Advocacy Commission, the State Fire
26 Marshal, local fire departments, the Department on Aging
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1 and its subsidiary Area Agencies on Aging and provider
2 agencies, except the State Long Term Care Ombudsman and
3 any of his or her representatives or volunteers where
4 prohibited from making such a report pursuant to 45 CFR
5 1324.11(e)(3)(iv);
6 (7) any employee of the State of Illinois not
7 otherwise specified herein who is involved in providing
8 services to eligible adults, including professionals
9 providing medical or rehabilitation services and all other
10 persons having direct contact with eligible adults;
11 (8) a person who performs the duties of a coroner or
12 medical examiner;
13 (9) a person who performs the duties of a paramedic or
14 an emergency medical technician; or
15 (10) a person who performs the duties of an investment
16 advisor; .
17 (11) a person who performs the duties of a
18 broker-advisor; or
19 (12) an officer, manager, or employee of a financial
20 institution.
21 (g) "Neglect" means another individual's failure to
22 provide an eligible adult with or willful withholding from an
23 eligible adult the necessities of life including, but not
24 limited to, food, clothing, shelter or health care. This
25 subsection does not create any new affirmative duty to provide
26 support to eligible adults. Nothing in this Act shall be
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1 construed to mean that an eligible adult is a victim of neglect
2 because of health care services provided or not provided by
3 licensed health care professionals.
4 (h) "Provider agency" means any public or nonprofit agency
5 in a planning and service area that is selected by the
6 Department or appointed by the regional administrative agency
7 with prior approval by the Department on Aging to receive and
8 assess reports of alleged or suspected abuse, abandonment,
9 neglect, or financial exploitation. A provider agency is also
10 referenced as a "designated agency" in this Act.
11 (i) "Regional administrative agency" means any public or
12 nonprofit agency in a planning and service area that provides
13 regional oversight and performs functions as set forth in
14 subsection (b) of Section 3 of this Act. The Department shall
15 designate an Area Agency on Aging as the regional
16 administrative agency or, in the event the Area Agency on
17 Aging in that planning and service area is deemed by the
18 Department to be unwilling or unable to provide those
19 functions, the Department may serve as the regional
20 administrative agency or designate another qualified entity to
21 serve as the regional administrative agency; any such
22 designation shall be subject to terms set forth by the
23 Department.
24 (i-5) "Self-neglect" means a condition that is the result
25 of an eligible adult's inability, due to physical or mental
26 impairments, or both, or a diminished capacity, to perform
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1 essential self-care tasks that substantially threaten his or
2 her own health, including: providing essential food, clothing,
3 shelter, and health care; and obtaining goods and services
4 necessary to maintain physical health, mental health,
5 emotional well-being, and general safety. The term includes
6 compulsive hoarding, which is characterized by the acquisition
7 and retention of large quantities of items and materials that
8 produce an extensively cluttered living space, which
9 significantly impairs the performance of essential self-care
10 tasks or otherwise substantially threatens life or safety.
11 (j) "Substantiated case" means a reported case of alleged
12 or suspected abuse, abandonment, neglect, financial
13 exploitation, or self-neglect in which a provider agency,
14 after assessment, determines that there is reason to believe
15 abuse, abandonment, neglect, or financial exploitation has
16 occurred.
17 (k) "Verified" means a determination that there is "clear
18 and convincing evidence" that the specific injury or harm
19 alleged was the result of abuse, abandonment, neglect, or
20 financial exploitation.
21 (Source: P.A. 102-244, eff. 1-1-22; 102-953, eff. 5-27-22;
22 103-329, eff. 1-1-24; 103-626, eff. 1-1-25.)
23 (320 ILCS 20/2.5 new)
24 Sec. 2.5. Financial exploitation.
25 (a) As used in this Section, unless the context requires
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1 otherwise:
2 "Financial institution" means any of the following:
3 (1) A depository institution, as defined in Section
4 3(c) of the Federal Deposit Insurance Act (12 U.S.C.
5 1813(c)).
6 (2) An institution-affiliated party, as defined in
7 Section 3(u) of the Federal Deposit Insurance Act (12
8 U.S.C. 1813(u)).
9 (3) A federal credit union or state credit union, as
10 defined in Section 101 of the Federal Credit Union Act (12
11 U.S.C. 1752), including, but not limited to, an
12 institution-affiliated party of a credit union, as defined
13 in Section 206(r) of the Federal Credit Union Act (12
14 U.S.C. 1786(r)).
15 "Representative" means a person or entity that is either
16 of the following:
17 (1) A conservator, trustee, or other representative of
18 the estate of an eligible adult.
19 (2) An attorney-in-fact of an eligible adult who acts
20 within the authority of the power of attorney.
21 (b) Financial exploitation of an eligible adult occurs
22 when a person or entity does any of the following:
23 (1) Takes, secretes, appropriates, obtains, or retains
24 real or personal property of an eligible adult for a
25 wrongful use or with intent to defraud, or both.
26 (2) Assists in taking, secreting, appropriating,
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1 obtaining, or retaining real or personal property of an
2 eligible adult for a wrongful use or with intent to
3 defraud, or both.
4 (3) Knowingly aids and abets in the taking, secreting,
5 appropriating, obtaining, or retaining of real or personal
6 property of an eligible adult for a wrongful use or with
7 intent to defraud, or both.
8 (4) Takes, secretes, appropriates, obtains, or
9 retains, or assists in taking, secreting, appropriating,
10 obtaining, or retaining, real or personal property of an
11 eligible adult by undue influence.
12 (c) A person or entity is deemed to have taken, secreted,
13 appropriated, obtained, or retained property for a wrongful
14 use or assisted in taking, secreting, appropriating,
15 obtaining, or retaining property for a wrongful use, if, among
16 other things, the person or entity takes, secretes,
17 appropriates, obtains, or retains the property or assists in
18 taking, secreting, appropriating, obtaining, or retaining the
19 property and the person or entity knew or should have known
20 that this conduct is likely to be harmful to the eligible
21 adult.
22 (d) A person or entity takes, secretes, appropriates,
23 obtains, or retains real or personal property when an eligible
24 adult is deprived of any property right, including by means of
25 an agreement, donative transfer, or testamentary bequest,
26 regardless of whether the property is held directly or by a
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1 representative of an eligible adult.
2 (e) Assisting in the financial exploitation of an eligible
3 adult occurs when a person or entity does either of the
4 following:
5 (1) For a financial institution or an officer,
6 manager, or employee of a financial institution, a
7 broker-dealer, or an investment advisor, executing a
8 transaction with or processing a transaction on behalf of
9 an eligible adult for which both of the following apply:
10 (A) The eligible adult interacts with one or more
11 officers, managers, or employees of the financial
12 institution or with the broker-dealer or investment
13 advisor in the process of requesting, initiating, or
14 completing the transaction.
15 (B) The financial institution or the officer,
16 manager, or employee of the financial institution, the
17 broker-dealer, or the investment advisor fails to act
18 as a reasonable person or entity in a like position
19 would, considering the surrounding facts and
20 circumstances, including the transaction history of
21 the eligible adult, whether the transaction is aligned
22 with prevailing business practices, and whether the
23 eligible adult exhibits multiple red flags, in
24 executing the transaction with or processing the
25 transaction on behalf of the eligible adult. As used
26 in this subparagraph, "red flags" refers to the
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1 behavioral and financial red flags enumerated in Elder
2 Financial Exploitation Advisory in FinCEN Advisory
3 FIN-2022-A002 by the United States Department of the
4 Treasury.
5 (2) For any other mandated reporter not listed in
6 paragraph (1), failing to act as a reasonable person in a
7 like position would, considering the surrounding facts and
8 circumstances, including, but not limited to, any of the
9 following:
10 (A) The vulnerability of the eligible adult.
11 (B) The extent to which the eligible adult relied
12 on the mandated reporter to handle the eligible
13 adult's finances or for financial advice or financial
14 decisions.
15 (C) Any information the eligible adult provided to
16 the mandated reporter about the situation.
17 (D) The mandated reporter's past interactions with
18 the eligible adult and whether the eligible adult's
19 behavior was markedly different than in the eligible
20 adult's prior interactions with the mandated reporter.
21 (E) Whether the mandated reporter has a fiduciary
22 duty to the eligible adult.
23 (F) Any instructions or information the mandated
24 reporter has been given about the eligible adult's
25 capacity or ability to make decisions.
26 (G) Any trainings the mandated reporter has taken
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1 or should have taken, or information the mandated
2 reporter has received or should have received, on the
3 subjects of elder abuse and financial exploitation.
4 (f)(1) For purposes of paragraph (1) of subsection (e), a
5 financial institution or an officer, manager, or employee of a
6 financial institution, a broker-dealer, or an investment
7 advisor shall be deemed to have acted reasonably if the person
8 or entity proves that, at the time that the transaction was
9 requested, the person or entity gave the eligible adult an
10 explanation and warning, verbally and in writing, regarding
11 the person's or entity's knowledge of, or suspicion of,
12 financial exploitation occurring with respect to that
13 transaction, and if either of the following is met:
14 (A) If the eligible adult has designated a trusted
15 contact person to receive notification of any known or
16 suspected financial exploitation, or there is a joint
17 holder on the account for which the transaction is
18 requested, the person or entity contacted the trusted
19 contact person or joint account holder and obtained
20 consent for the transaction.
21 (B)(i) If the financial institution or an officer,
22 manager, or employee of the financial institution, the
23 broker-dealer, or the investment advisor was unable to
24 communicate with and obtain the consent of a secondary
25 authorized account holder or trusted contact person, or
26 there was no joint account holder or designated trusted
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1 contact person, the person or entity refused the
2 transaction, or notified the appropriate provider agency
3 and law enforcement and held the transaction for 15
4 business days or until the provider agency or law
5 enforcement informed the person or entity that the
6 transaction should be completed. If, at any time during
7 the 15-day period, the eligible adult informs the person
8 or entity that the eligible adult does not wish to
9 complete the transaction, the person or entity does not
10 act reasonably if they complete the transaction anyway.
11 (ii) Notwithstanding any other law to the contrary,
12 for the purposes of item (i), a financial institution or
13 an officer, manager, or employee of a financial
14 institution, a broker-dealer, or an investment advisor is
15 authorized to delay or refuse a requested transaction if
16 the person or entity notified the provider agency and law
17 enforcement.
18 (2) For the purposes of paragraph (1) of subsection (e), a
19 nonsupervisory employee of a financial institution may not be
20 held personally liable in his or her individual capacity for
21 violations of this Section. However, this Section does not
22 affect the liability of the financial institution for its own
23 acts or under the theory of respondeat superior.
24 (g) Nothing in this Section shall in any way affect or
25 contravene any other reporting requirements under this Act.
26 (h) Nothing in this Section shall apply to criminal
SB1389 - 16 - LRB104 10854 KTG 20936 b
SB1389- 17 -LRB104 10854 KTG 20936 b SB1389 - 17 - LRB104 10854 KTG 20936 b
SB1389 - 17 - LRB104 10854 KTG 20936 b
SB1389 - 17 - LRB104 10854 KTG 20936 b