2023 Tennessee Code › Title 45 - BANKS AND FINANCIAL INSTITUTIONS (§§ 45-1-101 — 45-20-111) › Chapter 2 - BANKING INSTITUTIONS (§§ 45-2-101 — 45-2-2204) › Part 12 - ELDERLY AND VULNERABLE ADULT FINANCIAL EXPLOITATION PREVENTION ACT (§§ 45-2-1201 — 45-2-1206) › Section 45-2-1202 - [Repealed] Part definitions

As used in this part, unless the context otherwise requires:
(1)
"Account" means funds or assets held by a financial service provider, including, but not limited to, a deposit account, savings account, share account, certificate of deposit, trust account, IRA, guardianship or conservatorship account, investment or securities account, retirement account, or loan or extension of credit;
(2)
"Department" means the department of financial institutions unless otherwise designated in this part;
(3)
"Elderly adult" means a person sixty-five (65) years of age or older;
(4)
"Financial exploitation" means the unlawful appropriation or use of an elderly or vulnerable adult's property, as defined in §
39-11-106(a)
, for one's own benefit or that of a third party;
(5)
"Financial service provider" means any of the following engaged in or transacting business in this state:
(A)
A state or national bank or trust company;
(B)
A state or federal savings and loan association;
(C)
A state or federal credit union;
(D)
An industrial loan and thrift company, regulated by chapter 5 of this title;
(E)
A money transmitter, regulated by chapter 7, part 2 of this title;
(F)
A check casher, regulated by chapter 18 of this title;
(G)
A mortgage loan lender, mortgage loan broker, mortgage loan originator, or mortgage loan servicer, regulated by chapter 13 of this title;
(H)
A title pledge lender, regulated by chapter 15 of this title;
(I)
A deferred presentment services provider, regulated by chapter 17 of this title;
(J)
A flex loan provider, regulated by chapter 12 of this title; or
(K)
A home equity conversion mortgage lender, regulated by title 47, chapter 30;
(6)
"Financial transaction" means any of the following as applicable to the business or services provided by a financial service provider:
(A)
A transfer or request to transfer or disburse funds or assets in an account;
(B)
A request to initiate a wire transfer, initiate an automated clearing house (ACH) transfer, or issue a money order, cashier's check, or official check;
(C)
A request to negotiate a check or other negotiable instrument;
(D)
A request to change the ownership of an account;
(E)
A request to sell or transfer securities or other assets if the person selling or transferring the securities or assets is not required to register pursuant to title 48, chapter 1, part 1;
(F)
A request for a loan, extension of credit, or draw on a line of credit; or
(G)
A request to transfer the title to any real property, or the title of any motor vehicle or mobile home, or to encumber such real property, motor vehicle, or mobile home;
(7)
"Law enforcement agency" means a district attorney general, municipal police department, county sheriff, the Tennessee bureau of investigation, United States attorney, FBI, secret service, or other federal law enforcement agency; and
(8)
"Vulnerable adult" means a person eighteen (18) years of age or older who, because of mental or physical dysfunction, is unable to fully manage the person's own resources, carry out all or a portion of the activities of daily living, or is unable to fully protect against neglect, exploitation, or hazardous or abusive situations without assistance from others.
Repealed by 2017 Tenn. Acts, ch. 264, s 7, eff. 6/30/2022.
Added by 2017 Tenn. Acts, ch. 264, s 1, eff. 7/1/2017.