Nationwide Reporting Chart

For Suspected Exploitation Of Seniors And/Or Vulnerable Persons

 

Click the state on the interactive map below or use the drop-down list

AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC
Statute
Tenn. Code Ann. § 71-6-103(b)(1).
Tenn. Code Ann. § 48-1-127(a)(1), (b)(1)(A)-(B). (b)(3)(A)-(B), (b)(4), (c).
Tenn. Code Ann. § 48-1-102(9), (18).
Tenn. Code Ann. § 45-2-1203(c)(1)–(2).
Tenn. Code Ann. § 45-2-1202(5)(A)–(K).
Tenn. Code Ann. § 71-6-102(2), (8).
Tenn. Code Ann. § 71-6-105.

Financial Services Professionals
(Mandated? Permissive?)

Any person, if the exploitation involves the improper use by a caretaker of funds that have been paid by a governmental agency to an adult or to the caretaker for the use or care of the adult. (Mandated)

Any agent, investment adviser representative, or person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser. (Permissive)

State Report & Hold
(Y/N)

Yes, a broker-dealer or investment adviser may delay. Tenn. Code Ann. § 48-1-127(b)(1)(A)-(B).

Any delay of a disbursement as authorized by this section shall expire 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 designated adult; or (B) Fifteen (15) business days after the date on which the broker-dealer or investment adviser first delayed disbursement of the funds, unless the commissioner requests that the broker-dealer or investment adviser extends the delay, in which case the delay shall expire no more than twenty-five (25) business days after the date on which the broker-dealer or investment adviser first delayed disbursement of the funds unless otherwise terminated or extended by the commissioner or an order of a court of competent jurisdiction. (4) A court of competent jurisdiction may enter an order extending the delay of the disbursement of funds or an order granting other protective relief based on the petition of the commissioner, the broker-dealer or investment adviser that initiated the delay under this section, or any other interested party. Tenn. Code Ann. § 48-1-127(b)(3)(A)-(B),(b)(4).

Reporters

Any person, including, but not limited to, a physician, nurse, social worker, department personnel, coroner, medical examiner, alternate care facility employee, or caretaker, having reasonable cause to suspect that an adult has suffered abuse, neglect, or exploitation shall report or cause reports to be made. Tenn. Code Ann. § 71-6-103(b)(1).

Exploitation: The improper use by a caretaker of funds that have been paid by a governmental agency to an adult or to the caretaker for the use or care of the adult. Tenn. Code Ann. § 71-6-102(8).

If a qualified individual reasonably believes that financial exploitation of a designated adult has occurred, has been attempted or may have been attempted, or is being attempted, the qualified individual, in cooperation with the qualified individual’s broker-dealer or investment adviser, may notify the commissioner. Tenn. Code Ann. § 48-1-127(a)(1).

Qualified Individual: Any agent, investment adviser representative, or person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser. Tenn. Code Ann. § 48-1-102(18).

A financial service provider that refuses a financial transaction or holds a financial transaction based on reasonable cause to suspect that financial exploitation may have occurred, may have been attempted, or is being attempted. Tenn. Code Ann. § 45-2-1203(c)(1)–(2).

Financial Services Provider: A state or national bank or trust company; a state or federal savings and loan association; a state or federal credit union; an industrial loan and thrift company, regulated by chapter 5 of this title; a money transmitter, regulated by chapter 7, part 2 of this title; a check casher, regulated by chapter 18 of this title; a mortgage loan lender, mortgage loan broker, mortgage loan originator, or mortgage loan servicer, regulated by chapter 13 of this title; a title pledge lender, regulated by chapter 15 of this title; a deferred presentment services provider, regulated by chapter 17 of this title; a flex loan provider, regulated by chapter 12 of this title; or a home equity conversion mortgage lender, regulated by title 47, chapter 30.  Tenn. Code Ann. § 45-2-1202(5).

Protected Individuals

Adult: A person eighteen (18) years of age or older who because of mental or physical dysfunctioning or advanced age is unable to manage such person’s own resources, carry out the activities of daily living, or protect such person from neglect, hazardous or abusive situations without assistance from others and who has no available, willing, and responsibly able person for assistance and who may be in need of protective services; provided, however, that a person eighteen (18) years of age or older who is mentally impaired but still competent shall be deemed to be a person with mental dysfunction for the purposes of this chapter. Tenn. Code Ann. § 71-6-102(2).

Designated Adult: An individual sixty-five (65) years of age or older; or an individual who is eighteen (18) years of age or older and who, because of mental or physical dysfunction, is unable to manage such person’s own resources, carry out activities of daily living, or protect against neglect or hazardous or abusive situations, without assistance from others. Tenn. Code Ann. § 48-1-102(9).

Financial Institutions-Immunity (Y/N)

Yes.

Any person making any report or investigation pursuant to this part, including representatives of the department in the reasonable performance of their duties and within the scope of their authority, shall be presumed to be acting in good faith and shall thereby be immune from any liability, civil or criminal, that might otherwise be incurred or imposed. Any such participant shall have the same immunity with respect to participation in any judicial proceeding resulting from such report or investigation. Tenn. Code Ann. § 71-6-105.

A broker-dealer, investment adviser, or qualified individual that, in good faith and exercising reasonable care, complies with subsections (a) and (b) is immune from liability for such conduct. Tenn. Code Ann. § 48-1-127(c).

** See Senior Safe Act

* Although care has been taken to ensure the accuracy and completeness of the information provided, EverSafe assumes no responsibility therefore and urges users of the information to check sources before use. Information is updated regularly and subject to change.
** On May 24, 2018, the Senior Safe Act was signed into law on a federal level as part of Economic Growth, Regulatory Relief, and Consumer Protection Act (Pub. Law No: 115-174). The Act is now codified at 12 USC § 3423. It extends immunity from liability to covered financial institutions who disclose suspected financial exploitation of adults 65 years and older to regulatory or law-enforcement agencies.
*** On February 5, 2018, FINRA Rule 2165 was adopted. Rule 2165 allows members to place temporary holds on disbursements of funds or securities from the accounts of a person 1) age 65 or older or 2) 18 years or older who the member reasonably believes has a mental or physical impairment that renders the individual unable to protect his or her own interests, if the member reasonably believes that financial exploitation of the person has occurred, is occurring, has been attempted, or will be attempted.