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 45-2-1204 - [Effective 10/1/2024]

(a)
A financial service provider may offer to an elderly or vulnerable adult the opportunity to submit and periodically update a list of persons that the elderly or vulnerable adult authorizes the financial service provider to contact when the financial service provider has reasonable cause to suspect that the adult is a victim or a target of financial exploitation.
(b)
Notwithstanding subsection (a), a financial service provider, or an officer or employee of the financial service provider, that has reasonable cause to suspect that an elderly or vulnerable adult is the victim or target of financial exploitation may convey the suspicion to one (1) or more of the following, provided that the person is not the suspected perpetrator:
(1)
Persons on the list described in subsection (a), if a list has been provided by the elderly or vulnerable adult;
(2)
A co-owner, additional authorized signatory, or beneficiary on the elderly or vulnerable adult's account; or
(3)
A person known by the financial service provider to be a family member, including a parent, adult child, or sibling.
(4)
The Tennessee bureau of investigation's elder financial reporting mechanism pursuant to Section 4.
(c)
(1)
When providing information under this section, the financial service provider may limit the information and disclose only that the financial service provider has reasonable cause to suspect that the elderly or vulnerable adult may be a victim or target of financial exploitation without disclosing any other details or confidential personal information regarding the financial affairs of the elderly or vulnerable adult.
(2)
Notwithstanding subdivision (c)(1), the financial service provider shall provide information to aid in the investigation of suspected elder financial exploitation pursuant to Section 3.
(d)
The financial service provider may choose not to contact one (1) or more persons on the list provided pursuant to subsection (a) if the financial service provider suspects that the person or persons are engaged in financial exploitation.
(e)
The financial service provider may rely on information provided by the customer in compiling a list of contact persons.
(f)
A financial service provider, or an employee of a financial service provider, is immune from all criminal, civil, and administrative liability for contacting a person or electing not to contact a person under this section and for actions taken in furtherance of that determination if the determination was made based on reasonable belief.
(g)
Contact with any person, and any information provided under this section, is exempt from the customer consent and customer notice provisions in §§
45-10-105
and
45-10-106
.
Amended by 2024 Tenn. Acts, ch. 972,s 2, eff. 10/1/2024.
Amended by 2024 Tenn. Acts, ch. 972,s 1, eff. 10/1/2024.
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.
This section is set out more than once due to postponed, multiple, or conflicting amendments.