Financial Exploitation of an Elderly Person or

Individual with a Disability: Defined. A person is guilty of financial exploitation of an elderly person or individual with a disability if he or she:

(a)knowingly obtains or uses, or endeavors to obtain or use, an elderly person’s or individual with a disability’s funds, assets, or property with the intent to temporarily or permanently deprive the elderly person or individual with a disability of the use, benefit, or possession of the funds, assets, or property, or to benefit someone other than the elderly person or individual with a disability, by a person who:

(1)stands in a position of trust and confidence with the elderly person or individual with a disability; or COL1/24/2020 CH. 32 FINANCIAL EXPLOITATION OF THE ELDERLY AND INDIVIDUALS WITH DISABILITIES

(2)has a business relationship with the elderly person or individual with a disability;

(b)obtains or uses, endeavors to obtain or use, or conspires with another to obtain or use an elderly person’s or individual with a disability’s funds, assets, or property with the intent to temporarily or permanently deprive the elderly person or individual with a disability of the use, benefit, or possession of the funds, assets, or property, or to benefit someone other than the elderly person or individual with a disability, by a person who knows or reasonably should know that the elderly person or individual with a disability lacks the capacity to consent;

(c)is a guardian, a trustee who is an individual, or an agent under a power of attorney who breaches a fiduciary duty to the elderly person or individual with a disability which results in an unauthorized appropriation, sale, or transfer of property. An unauthorized appropriation, sale, or transfer of property, under this Subsection occurs when the elderly person or individual with a disability does not receive the reasonably equivalent financial value in goods or services, or when the fiduciary violates any of these duties:

(1)for appointed agents:

(A)committing fraud in obtaining their appointments;

(B)abusing their powers;

(C)embezzling or intentionally mismanaging the assets of the principal or beneficiary; or

(D)acting contrary to the principal’s sole benefit or best interest;

(2)for guardians and trustees:

(A)committing fraud in obtaining their appointments;

(B)abusing their powers; or COL1/24/2020 CH. 32 FINANCIAL EXPLOITATION OF THE ELDERLY AND INDIVIDUALS WITH DISABILITIES

(C)embezzling or intentionally mismanaging the assets of the principal or beneficiary;

(d)misappropriates, misuses, or transfers without authorization, money belonging to an elderly person or individual with a disability from an account in which the elderly person or individual with a disability placed the funds, owned the funds, and was the sole contributor or payee of the funds before the misappropriation, misuse, or unauthorized transfer occurred. This Subsection only applies to the following types of accounts:

(1)personal accounts;

(2)joint accounts created with the intent that only the elderly person or individual with a disability enjoys all rights, interests, and claims to moneys deposited into such account; or

(3)convenience accounts;

(e)is a caregiver or a person who stands in a position of trust and confidence with the elderly person or individual with a disability who intentionally or negligently fails to effectively use an elderly person’s or individual with a disability’s income and assets for the necessities required for that person’s support and maintenance.