(a)For purposes of this section:
(1)“Eligible adult” has the same meaning as provided in subsection (f) of section 36b-14 ;
(2)“Financial institution” means any (A) Connecticut bank or Connecticut credit union, as those terms are defined in section 36a-2 , (B) institution that engages in the business of banking or a credit union that is chartered out of state, as that term is defined in section 36a-2 , (C) subsidiary or affiliate of any such bank, credit union or institution described in subparagraphs (A) and (B) of this subdivision, and (D) national banking association, federal savings bank, federal savings and loan association, or institution chartered or organized as a federal credit union under the laws of the United States;
(3)“Financial hold” means the refusal of a financial inst
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(a) For purposes of this section: (1) “Eligible adult” has the same meaning as provided in subsection (f) of section 36b-14 ; (2) “Financial institution” means any (A) Connecticut bank or Connecticut credit union, as those terms are defined in section 36a-2 , (B) institution that engages in the business of banking or a credit union that is chartered out of state, as that term is defined in section 36a-2 , (C) subsidiary or affiliate of any such bank, credit union or institution described in subparagraphs (A) and (B) of this subdivision, and (D) national banking association, federal savings bank, federal savings and loan association, or institution chartered or organized as a federal credit union under the laws of the United States; (3) “Financial hold” means the refusal of a financial institution to (A) complete any transaction, including, but not limited to, a transaction as defined in section 36a-253 , or (B) disburse the proceeds of any transaction upon a deposit account, funds, safe deposit box, securities or other property in the custody of the financial institution; and (4) “Hold by a broker-dealer or investment advisor” means the temporary hold on a disbursement of funds or securities or a transaction in securities from the account of an eligible adult, including, but not limited to, an account of which an eligible adult is a beneficiary, as provided in subsection (f) of section 36b-14 , by a broker-dealer or investment advisor. (b) An eligible adult, or the authorized legal representative of the eligible adult, may petition the Probate Court to remove a financial hold imposed by a financial institution under section 36a-253 or a hold by a broker-dealer or investment advisor. The petition shall be filed in the Probate Court for the probate district in which the eligible adult resides, is domiciled or is located at the time such petition is filed, or where the financial institution has an office, except that, if the eligible adult is under conservatorship, the petition shall be filed in the Probate Court for the probate district in which such conservatorship is pending. The petition shall state: (1) The name, date of birth and address of the eligible adult; (2) the name and address of the eligible adult's spouse, if any; (3) the name and address of the eligible adult's conservator, if any; (4) the name and address of the petitioner, if the petitioner is not the eligible adult; (5) the name and address of the financial institution, broker-dealer or investment advisor imposing the financial hold or the hold by a broker-dealer or investment advisor; (6) whether the Department of Social Services is known to be investigating the welfare of the eligible adult; (7) whether a petition to appoint a conservator is pending in any Probate Court, and if such a petition is pending, a description of the Probate Court in which such petition is pending; (8) a description of the transaction that is the subject of the financial hold or the hold by a broker-dealer or investment advisor; and (9) a statement as to why the transaction will not result in financial exploitation of the eligible adult. (c) The Probate Court shall set a time and place for a hearing on such petition to be held not later than ten days after the date on which the petition is filed, unless continued by the Probate Court for cause shown, and shall give such notice of the hearing as it may direct to each person and institution identified in subdivisions (1) to (5), inclusive, of subsection (b) of this section and to the Commissioner of Social Services. (d) If the Probate Court determines that there is no reasonable cause to conclude that the transaction or disbursement that is the subject of the hold may involve, facilitate, result in or contribute to the financial exploitation of the eligible adult, or finds that the eligible adult is not a resident of the state, the Probate Court shall order the release of the financial hold or the hold by a broker-dealer or investment advisor. If the Probate Court determines that there is such reasonable cause, the Probate Court may order that the financial hold be modified or continued for a period not to exceed thirty days from the date of the order or until the appointment of a conservator for the eligible adult, whichever occurs first. (e) Upon disposition of a petition under this section, the Probate Court may order that the petitioner be reimbursed for the fee to file the petition set forth in subsection (b) of section 45a-106a , as the Probate Court deems equitable, except that no financial agent shall be responsible for such reimbursement and a financial institution shall be liable for such reimbursement only if the Probate Court finds that the financial institution did not have reasonable cause to believe that a transaction or disbursement involving an account of an eligible adult may have involved, facilitated, resulted in or contributed to the financial exploitation of such eligible adult. (f) Nothing in this section shall be construed to limit any immunities, causes of action or remedies provided under the Connecticut Uniform Power of Attorney Act, sections 1-350 to 1-353b , inclusive.