Nationwide Reporting Chart
For Suspected Exploitation Of Seniors And/Or Vulnerable Persons
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Mont. Code Ann. § 52-3-803(8), (9).
Mont. Code Ann. § 53-20-102(9).
Mont. Code Ann. § 30-10-103(12), (13), (19), (22), (27).
Mont. Code Ann. § 30-10-340(1), (2).
Mont. Code Ann. § 30-10-342(1), (2), (3), (4).
(Mandated? Permissive?)
A qualified individual, investment adviser, investment adviser representative, or salesperson. (Permissive)
Any other persons or entities. (Permissive)
(Y/N)
Yes, a broker-dealer or investment advisor may delay. Mont. Code Ann. § 30-10-342(1).
A delay of a disbursement authorized under this section expires upon the sooner of: (a) a determination by the broker-dealer or investment adviser that the disbursement will not result in financial exploitation of the vulnerable person; or (b) 15 business days after the date on which the broker-dealer or investment adviser first delayed the disbursement, unless the commissioner requests that the broker-dealer or investment adviser extend the delay. If extended, the delay expires no more than 25 business days after the date on which the broker-dealer or investment adviser first delayed the disbursement, unless the delay is terminated sooner by the commissioner or by an order of a court of competent jurisdiction. (3) A court of competent jurisdiction may enter an order extending the delay of the disbursement beyond the timeframe provided in subsection (2) or may order other protective relief based on a petition of the commissioner, the broker-dealer or investment adviser who initiated the delay under this section, or an interested party. Mont. Code Ann. § 30-10-342(2)-(3).
A physician, resident, intern, professional or practical nurse, physician assistant, or member of a hospital staff engaged in the admission, examination, care, or treatment of persons; an osteopath, dentist, denturist, chiropractor, optometrist, podiatrist, medical examiner, coroner, or any other health or mental health professional; an ambulance attendant; a social worker or other employee of the state, a county, or a municipality assisting an older person or a person with a developmental disability in the application for or receipt of public assistance payments or services; a person who maintains or is employed by a roominghouse, retirement home or complex, nursing home, group home, adult foster care home, adult day-care center, or assisted living facility or an agency or individual that provides home health services or personal care in the home; an attorney, unless the attorney acquired knowledge of the facts required to be reported from a client and the attorney-client privilege applies; a peace officer or other law enforcement official; a person providing services to an older person or a person with a developmental disability pursuant to a contract with a state or federal agency; and an employee of the department while in the conduct of the employee’s duties. Mont. Code Ann. § 52-3-811(3).
Any other persons or entities may, but are not required to, submit a report in accordance with subsection (1). Mont. Code Ann. § 52-3-811(4).
If a qualified individual, investment adviser, investment adviser representative, or salesperson reasonably believes that financial exploitation of a vulnerable person may have occurred, may have been attempted, or is being attempted, the qualified individual, investment adviser, investment adviser representative, or salesperson may promptly report the suspected exploitation to the commissioner in the manner outlined in the broker-dealer’s or investment adviser’s policies and procedures for reporting suspected exploitation. If the policies and procedures do not have a manner outlined, the qualified individual, investment adviser, investment adviser representative, or salesperson may report the suspected exploitation directly to the commissioner. Mont. Code Ann. § 30-10-340(1).
Qualified Individual: A person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser. Mont. Code Ann. § 30-10-103(19).
Investment Adviser: A person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. Mont. Code Ann. § 30-10-103(12).
Investment Adviser Respresentative: Any partner of, officer of, director of, or a person occupying a similar status or performing similar functions, or other individual, except clerical or ministerial personnel, employed by or associated with an investment adviser. Mont. Code Ann. § 30-10-103(13).
Salesperson: An individual other than a broker-dealer who represents a broker-dealer or issuer in effecting or attempting to effect sales of securities. A partner, officer, or director of a broker-dealer or issuer is a salesperson only if the person otherwise comes within this definition. Mont. Code Ann. § 30-10-103(22).
Older Person: A person who is at least 60 years of age. Mont. Code Ann. § 52-3-803(8).
Person with a Developmental Disability: A person 18 years or older who has a developmental disability. Mont. Code Ann. § 52-3-803(9).
Developmental Disability: A disability that is attributable to intellectual disability, cerebral palsy, epilepsy, autism, or any other neurologically disabling condition closely related to mental retardation; requires treatment similar to that required by mentally retarded individuals; originated before the individual attained age 18; has continued or can be expected to continue indefinitely; and results in the person having a substantial disability. Mont. Code Ann. § 53-20-102(9).
Vulnerable Person: A person who is at least 60 years of age;
(b) a person who suffers from mental impairment because of frailties or dependencies typically related to advanced age, such as dementia or memory loss;
(c) a person who has a developmental disability as defined in 53-20-102; or
(d) a person with a mental disorder. For the purposes of this subsection (27)(d), “mental disorder” means any organic, mental, or emotional impairment that has substantial adverse effects on an individual’s cognitive or volitional functions. The term does not include:
(i) addiction to drugs or alcohol;
(ii) drug or alcohol intoxication;
(iii) intellectual disability; or
(iv) epilepsy.
Mont. Code Ann. § 30-10-103(27).
Yes.
A qualified individual, investment adviser, investment adviser representative, or salesperson who, in good faith and exercising reasonable care, makes a disclosure of information under this section is immune from administrative or civil liability that might otherwise arise from the disclosure or from any failure to notify the vulnerable person or the person’s agent of the disclosure. Mont. Code Ann. § 30-10-340(2).
A broker-dealer or investment adviser who, in good faith and exercising reasonable care, complies with this section is immune from administrative or civil liability that might otherwise arise from the delay in a disbursement in accordance with this section. Mont. Code Ann. § 30-10-342(4).
** See Senior Safe Act
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