Permissive Presumption of Exploitation

Any inter vivos transfer of money or property valued in excess of Ten Thousand Dollars ($10,000) at the time of the transfer, whether in a single transaction or multiple transactions, by a person fifty-five

(55)years of age or older to a nonrelative whom the transferor knew for fewer than two

(2)years before the first

(1st)transfer and for which the transferor did not receive the reasonably equivalent financial value in goods or services creates a permissive presumption that the transfer was the result of exploitation.

(a)This Section applies regardless of whether the transfer or transfers are denoted by the parties as a gift or loan, except that it does not apply to a valid loan evidenced COL1/24/2020 CH. 32 FINANCIAL EXPLOITATION OF THE ELDERLY AND INDIVIDUALS WITH DISABILITIES in writing that includes definite repayment dates. However, if repayment of any such loan is in default, in whole or in part, for more than sixty-five

(65)days, the presumption of this Section applies.

(b)This Section does not apply to:

(1)persons who are in the business of making loans; and

(2)bona fide charitable donations to nonprofit organizations that qualify for tax exempt status.

(c)In a criminal case to which this Section applies, if the trial is by jury, jurors shall be instructed that they may, but are not required to, draw an inference of exploitation upon proof beyond a reasonable doubt of the facts listed in this Section. The presumption of this Section imposes no burden of proof on the defendant.