Nationwide Reporting Chart
For Suspected Exploitation Of Seniors And/Or Vulnerable Persons
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La. Rev. Stat. Ann. § 51:732(3), (7).
La. Rev. Stat. Ann. § 51:733(A)(1)-(2).
La. Rev. Stat. Ann. § 15:1503(3).
La. Rev. Stat. Ann. § 6:1372(2), (3).
La. Rev. Stat. Ann. § 6:1373(A).
La. Rev. Stat. Ann. § 6:1376(A)(1)-(3).
La. Rev. Stat. Ann. § 51:735(A)(B)(1)-(2), (D).
La. Rev. Stat. Ann. § 6:1374(E)(1)-(2), (F)(1)-(2).
(Mandated? Permissive?)
Any person. (Mandated)
Any salesman, investment advisor representative, or person who serves in a supervisory, compliance, or other legal capacity for a dealer or investment advisor. (Permissive)
A covered financial institution. (Permissive)
(Y/N)
Yes, a dealer, investment advisor, qualified individual, or covered financial institution may delay. La. Rev. Stat. Ann. § 51:735(A).
Unless a court or the commissioner enters an order extending the refusal of disbursement or providing any other applicable protective relief, any delay of a disbursement as authorized by this Section will expire upon the sooner of the following: (1) A determination by the dealer or investment advisor that the disbursement will not result in financial exploitation of the eligible adult. (2) Fifteen business days after the date on which the dealer or investment advisor first delayed disbursement of the funds, unless either an adult protection agency or the commissioner of securities requests that the dealer or investment advisor extend the delay to no more than twenty-five business days after the date on which the dealer or investment advisor first delayed disbursement of the funds, unless sooner termination by the dealer or investment advisor or an order by a court of competent jurisdiction. La. Rev. Stat. Ann. § 51:735(B)(1)-(2).
Except as provided in Subsection F of this Section, any delay of a financial transaction as authorized pursuant to this Section shall expire or be terminated when the earliest of any of the following circumstances occur: (1) The covered financial institution reasonably determines that the financial transaction will not result in financial exploitation of the eligible adult. (2) Fifteen business days pass from the date on which the covered financial institution first initiated the delay of the financial transaction and F. (1) A covered financial institution may extend the delay provided for in Subsection E of this Section upon receiving a request to extend the delay from any covered agency, in which case the delay shall expire or be terminated no later than twenty-five business days from the date on which the covered financial institution first initiated the delay of the financial transaction. (2) A court of competent jurisdiction may enter an order extending or shortening a delay, or providing other relief, based on the petition of the covered financial institution, any covered agency, or other interested party. La. Rev. Stat. Ann. § 6:1374(E)(1)-(2), (F)(1)-(2).
Any person, including but not limited to a health, mental health, and social service practitioner, having cause to believe that an adult’s physical or mental health or welfare has been or may be further adversely affected by abuse, neglect, or exploitation. La. Rev. Stat. Ann. § 15:1504(A).
If a qualified individual reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, the qualified individual may notify the appropriate adult protection agency and the commissioner of securities. La. Rev. Stat. Ann. § 51:733(A)(1).
Qualified Individual: Any salesman, investment advisor representative, or person who serves in a supervisory, compliance, or other legal capacity for a dealer or investment advisor. La. Rev. Stat. Ann. § 51:732(7).
A covered financial institution may notify any covered agency if the covered financial institution believes that the financial exploitation of an eligible adult is occurring, has or may have occurred, or is being attempted, or has been, or may have been attempted. La. Rev. Stat. Ann. § 6:1373(A).
Covered Financial Institution: Means any bank, credit union, savings bank, savings and loan association, or trust company operating in Louisiana. La. Rev. Stat. Ann. § 6:1372(3).
Covered Agency: Any federal, state, or local law enforcement agency and an adult protection agency. La. Rev. Stat. Ann. § 6:1372(2).
Adult: An individual eighteen years of age or older, or an emancipated minor who, due to a physical, mental, or developmental disability or the infirmities of aging, is unable to manage his own resources, carry out the activities of daily living, or protect himself from abuse, neglect, or exploitation. La. Rev. Stat. Ann. § 15:1503(3).
Eligible Adult: A person sixty years of age or older. A person subject to the Adult Protective Services Act. La. Rev. Stat. Ann. § 51:732(3).
Yes.
No cause of action shall exist against any person who in good faith makes a report, cooperates in an investigation by an adult protective agency, or participates in judicial proceedings authorized under the provisions of this Chapter. La. Rev. Stat. Ann. § 15:1504(B).
A qualified individual who, in good faith and exercising reasonable care, makes a disclosure of information pursuant to this Section shall be immune from administrative or civil liability that might otherwise arise from such disclosure or for any failure to notify the customer of the disclosure. La. Rev. Stat. Ann. § 51:733(A)(2).
A covered financial institution, or any of its directors, officers, employees, attorneys, accountants, or other agents, is immune from all criminal, civil, and administrative liability for any act or failure to act pursuant to this chapter, and nothing in this chapter shall be construed to create any duty, obligation or mandate for a covered financial institution, or any of its directors, officers, employees, attorneys, accountants, or other agents. La. Rev. Stat. Ann. § 6:1376(A).
A dealer, investment advisor, or qualified individual who, in good faith and exercising reasonable care, complies with this Section shall be immune from any administrative or civil liability that might otherwise arise from such delay in a disbursement. La. Rev. Stat. Ann. § 51:735(D).
A covered financial institution and its directors, officers, employees, attorneys, accountants, agents, and other representatives shall have no duty to act pursuant to this Chapter or otherwise to protect an eligible adult from financial exploitation by a third person. (2) A covered financial institution and its directors, officers, employees, attorneys, accountants, agents, and other representatives shall be immune from all criminal, civil, and administrative liability for not taking action pursuant to this Chapter. (3) A covered financial institution and its directors, officers, employees, attorneys, accountants, agents, or other representatives who choose to act pursuant to the authority granted in this Chapter shall be immune from all criminal, civil, and administrative liability for any act taken pursuant to this Chapter, unless such act of the financial institution or its representatives was grossly negligent and caused pecuniary loss to the eligible adult who was suspected of being a victim of financial exploitation. La. Rev. Stat. Ann. § 6:1376(A)(1)-(3).
** See Senior Safe Act
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