§ 39-14-902 — Part definitions

As used in this part, unless the context otherwise requires: (1) "Attorney general" means the district attorneys general and their assistants; (2) "Financial transaction" means a purchase, sale, loan, pledge, contract, gift, payment, and also includes a withdrawal, transmission of funds, transfer between accounts or deposit, of monetary or negotiable instruments, funds or an exchange of any other property, including, but not limited to, currency, precious metals, stones or jewelry, tickets, stamps or credit in a financial institution. "Financial transaction" does not include: (A) Any transaction conducted, or attempted, at the request of or in cooperation with any local, state or federal law enforcement official with regard to any person acting at the request of or cooperating with the official when the person knows that the official is making an official request; (B) Any transaction conducted by a person, corporation or financial institution, in the ordinary course of business, with a duty to comply with any state or federal currency transaction reporting or recording requirements, unless the person, corporation or financial institution shall intentionally violate or circumvent the state or federal currency transaction reporting or recording requirements, but only as to that person, corporation or financial institution; (C) Any transaction conducted, or attempted, by a person, corporation or financial institution, in the ordinary course of business, which is deemed by the person, corporation or financial institution to be a suspicious transaction or transactions, whether reportable or not under any state or federal currency transaction reporting or recording requirements, where: (i) The person or corporation reports the suspicious transaction, or a similar transaction conducted previously, to any local, state or federal law enforcement official and the report would not violate any attorney-client privilege; or (ii) In the case of a financial institution, the financial institution reported the transaction, or a related transaction conducted previously, to the institution's primary regulator or to another regulator or law enforcement official pursuant to the directions of the institution's primary regulator; but only with regard to the person, corporation or financial institution making the report; or (D) Bona fide legal fees received by a licensed attorney; (3) "Knowingly uses or attempts to use proceeds derived directly or indirectly from a specified unlawful activity" means that any person or party to the transaction or act knew that the property or proceeds involved in the transaction or act represented or constituted, either in whole or in part, proceeds from some form, though not necessarily which form, of any criminal offense under the laws of this state, or any other jurisdiction. A person, corporation or financial institution receiving funds or property in the ordinary course of business shall not have "knowledge" that the funds or property so received represented proceeds of any specified unlawful activity solely because of: (A) The identity or reputation of the transferor of the funds or property; or (B) The identity or reputation of an associate of the transferor; (4) "Proceeds" includes gross profits from the commission of any specified unlawful activity, including property, real, personal or intangible of any kind, acquired or derived, directly or indirectly, from, produced through, realized through or caused by an act or omission; (5) "Property" means anything of value, and includes any interest in property, including any benefit, privilege, claim or right with respect to anything of value, whether real or personal, tangible or intangible; (6) (A) "Specified unlawful activity" means any act, including any preparatory or completed offense, committed for financial gain that is punishable as a felony under the laws of this state, or if the act occurred outside this state, would be punishable by confinement for more than one (1) year under the laws of the state in which it occurred; and (B) "Specified unlawful activity" does not mean an act, including any preparatory or completed offense, committed for financial gain that is punishable under chapter 17, part 5 of this title, or similar provisions of law in another state; and (7) "Use" and "conduct" means to initiate, conclude, participate, negotiate, transport, conceal, or to aid or abet in such acts.

Legislative History

Acts 1996, ch. 1012, § 1; 2009, ch. 386, § 1; 2012, ch. 851, § 1.