§ 67-2763 — PROTECTION OF CERTAIN ADULTS FROM FINANCIAL EXPLOITATION

Idaho § 67-2763

• Jurisdiction: Idaho
• Title 67: STATE GOVERNMENT AND STATE AFFAIRS
• Ch. 27: DEPARTMENT OF FINANCE

Text

(1) In this section, unless the context otherwise requires:
(a) "Authorized agencies" means the Idaho commission on aging and the department of finance.
(b) "Financial exploitation" means:
(i) The wrongful or unauthorized taking, withholding, appropriation, or use of a specified adult’s funds or securities; or
(ii) Any act or omission by a person, including through the use of a power of attorney, guardianship, or any other authority regarding a specified adult, to:
1. Obtain control through deception, intimidation, or undue influence over a specified adult’s money, assets, or property; or
2. Convert a specified adult’s money, assets, or property.
(c) "Financial institution" means any:
(i) State or federally chartered bank, savings bank, savings and loan association, thrift institution, holding company, credit union, or credit union service organization;
(ii) Regulated lender subject to the provisions of the Idaho credit code, title 28, Idaho Code;
(iii) Collection agency, credit counselor, debt counselor, or credit repair organization subject to the provisions of the Idaho collection agency act, chapter 22, title 26, Idaho Code;
(iv) Mortgage lender, mortgage broker, or loan originator subject to the provisions of the Idaho residential mortgage practices act, chapter 31, title 26, Idaho Code;
(v) Money transmitters subject to the Idaho money transmitters act, chapter 29, title 26, Idaho Code;
(vi) Escrow agency subject to the provisions of the Idaho escrow act, chapter 9, title 30, Idaho Code; or
(vii) Broker-dealer or investment adviser subject to the provisions of the Idaho uniform securities act (2004), chapter 14, title 30, Idaho Code, or person licensed or registered as a broker-dealer or investment adviser pursuant to federal law or the laws of another state and doing business in Idaho.
(d) "Reporting person" means:
(i) A broker-dealer as defined in section 30-14-102, Idaho Code;
(ii) An investment adviser as defined in section 30-14-102, Idaho Code; or
(iii) A financial institution.
(e) "Specified adult" means:
(i) A natural person sixty-five (65) years of age or older; or
(ii) A natural person eighteen (18) years of age or older who a reporting person reasonably believes has a mental or physical impairment that renders such natural person unable to protect his own interests. A reporting person’s reasonable belief may be based on facts and circumstances observed in the reporting person’s business relationship with the natural person.
(2)(a) If a reporting person reasonably believes that financial exploitation of a specified adult has occurred, is occurring, has been attempted, or will be attempted, the reporting person may notify the following:
(i) Either of the authorized agencies; and
(ii) Any third party that is:
1. Reasonably associated with the specified adult; or
2. Otherwise permitted by law.
(b) Any report or disclosure made to authorized agencies pursuant to this subsection shall be confidential and is subject to the confidentiality requirements of section 30-14-607, Idaho Code. The name of the reporting person shall not be revealed to any person outside of the authorized agencies without the permission of the reporting person.
(3)(a) A reporting person may place a temporary hold on a transaction in or disbursement from an account of a specified adult or an account on which a specified adult is a beneficiary if:
(i) The reporting person fulfills any reporting obligations the reporting person may have regarding the status of a transaction or disbursement pursuant to applicable state or federal law or regulation;
(ii) The reporting person reasonably believes that financial exploitation of a specified adult has occurred, is occurring, has been attempted, or will be attempted; and
(iii) No later than two (2) business days after the date the temporary hold was first placed, oral or written notification, which may be electronic, of the temporary hold and the reason for the temporary hold is made to:
1. All parties authorized to transact business on the account; and
2. Any person eighteen (18) years of age or older authorized by the specified adult or such specified adult’s legal representative, in writing, to be contacted about the specified adult’s account.
(b)(i) Unless otherwise provided in subparagraph (ii) of this paragraph, any temporary hold authorized by this subsection shall expire upon the sooner of:
1. A determination by the reporting person that the disbursement or transaction will not result in financial exploitation of the specified adult; or
2. No later than fifteen (15) business days after the date the reporting person first placed the temporary hold, unless the reporting person’s internal review of the facts and circumstances supports such person’s reasonable belief that financial exploitation of the specified adult has occurred, is occurring, has been attempted, or will be attempted, in which case the reporting person may extend the expiration to no later than thirty (30) business days after the date the reporting person first placed the temporary hold.
(ii) At any time, an agency of competent jurisdiction, including but not limited to either of the authorized agencies or a court of competent jurisdiction, may terminate or extend a temporary hold authorized by this subsection.
(4) Notwithstanding the provisions of subsections (2) and (3) of this section, a notification permitted or required by this section shall not be made to any person who is reasonably suspected of financial exploitation or other abuse of the specified adult.
(5)(a) A reporting person shall provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of a specified adult to either of the authorized agencies or to any other agency charged with administering state adult protective services laws and to law enforcement.
(b) The records may include historical records as well as records relating to the most recent disbursement or disbursements that may compromise financial exploitation of a specified adult.
(6) Notwithstanding any provision of law to the contrary, either of the authorized agencies may disclose to any reporting person the general status or final disposition of any investigation that arose from a report made by the reporting person.
(7) A reporting person that exercises good faith in making disclosures, releasing a temporary hold, or providing access to records pursuant to the provisions of this section shall be immune from any administrative or civil liability that might otherwise arise from such activities except when it is proven, by clear and convincing evidence, that the reporting person acted in bad faith with the specific intent to harm the specified adult. For the purposes of this subsection, "bad faith" means a dishonest belief or purpose, untrustworthy performance of duties, or a fraudulent intent.

Legislative History

[67-2763, added 2025, ch. 156, sec. 1, p. 765.]