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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-26-401, 2020

Covered financial institutions and specified representatives have no duty to act under this chapter to protect a vulnerable adult from financial exploitation, and they are generally immune from liability for not taking…

Source excerpt

financial exploitationfinancial institutionsimmunityinstitutional immunityvulnerable adult protectionvulnerable adults
Jurisdiction
United States — Utah
Status
In force
Official identity
Year 2020
Dates
Enacted 2020
More statute details
Dates
Enacted 2020
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01

Purpose and legislative effect

“Covered financial institutions and specified representatives have no duty to act under this chapter to protect a vulnerable adult from financial exploitation, and they are generally immune from liability for not taking permissive action.”

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    Enacted 2020. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Immunity.

Covered financial institutions and specified representatives have no duty to act under this chapter to protect a vulnerable adult from financial exploitation, and they are generally immune from liability for not taking permissive action.

Section 7-26-401

Subsection 7-26-401(1)(a)

No duty exists under this chapter to protect a vulnerable adult from financial exploitation by a third person.

Section 7-26-401(1)(a)

Subsection 7-26-401(2)(a)

A person or entity covered by this subsection is immune from criminal, civil, and administrative liability for the act unless the act is done in bad faith.

Section 7-26-401(2)(a)

Subsection 7-26-401(3)

The section’s immunity does not apply to a principal, conspirator, or accessory after the fact to a criminal offense involving financial exploitation of a vulnerable adult.

Section 7-26-401(3)

04

Source and current-law status

In force source record

Source record from le.utah.gov · Enacted 2020

In force

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Showing 10 of 10 provisions

Provision 10

Part 7-26-4

part 7-26-4 Immunity

§ 7-26-401Immunity.Provision

Source excerpt

Covered financial institutions and specified representatives have no duty to act under this chapter to protect a vulnerable adult from financial exploitation, and they are generally immune from liability for not taking permissive action.

Immunity. A covered financial institution or a director, officer, employee, attorney, accountant, agent, or other representative of the covered financial institution: has no duty to act under this chapter to protect a vulnerable adult from financial exploitation by a third person; and is immune from all criminal, civil, and administrative liability for not taking a permissive action under this chapter. A covered financial institution or a director, officer, employee, attorney, accountant, agent, or other representative of the covered financial institution who chooses to act as described in: Subsection 7-26-201(2) , is immune from all criminal, civil, and administrative liability for the act, unless the act is done in bad faith; and Section 7-26-301 or 7-26-302 , is immune from all criminal, civil, and administrative liability for the act, unless the act: is done in bad faith; and causes pecuniary loss to a vulnerable adult suspected of being a victim of financial exploitation. The immunity described in this section does not extend to an individual that is a principal, a conspirator, or an accessory after the fact to a criminal offense involving the financial exploitation of a vulnerable adult.
Section 7-26-401Verify source
§ 7-26-401(1)Subsection 7-26-401(1)Provision

Source excerpt

A covered financial institution and its listed representatives have no duty under this chapter to protect a vulnerable adult from financial exploitation by a third person, and they are immune from criminal, civil, and administrative liability for not taking a permissive action under this chapter.

A covered financial institution or a director, officer, employee, attorney, accountant, agent, or other representative of the covered financial institution: has no duty to act under this chapter to protect a vulnerable adult from financial exploitation by a third person; and is immune from all criminal, civil, and administrative liability for not taking a permissive action under this chapter.
Section 7-26-401(1)Verify source
§ 7-26-401(1)(a)Subsection 7-26-401(1)(a)Provision

Source excerpt

No duty exists under this chapter to protect a vulnerable adult from financial exploitation by a third person.

has no duty to act under this chapter to protect a vulnerable adult from financial exploitation by a third person; and
Section 7-26-401(1)(a)Verify source
§ 7-26-401(1)(b)Subsection 7-26-401(1)(b)Provision

Source excerpt

A person is immune from criminal, civil, and administrative liability for not taking a permissive action under this chapter.

is immune from all criminal, civil, and administrative liability for not taking a permissive action under this chapter.
Section 7-26-401(1)(b)Verify source
§ 7-26-401(2)Subsection 7-26-401(2)Provision

Source excerpt

A covered financial institution, and certain representatives acting under specified cross-referenced subsections, are immune from criminal, civil, and administrative liability for the act unless the act is done in bad faith.

A covered financial institution or a director, officer, employee, attorney, accountant, agent, or other representative of the covered financial institution who chooses to act as described in: Subsection 7-26-201(2) , is immune from all criminal, civil, and administrative liability for the act, unless the act is done in bad faith; and Section 7-26-301 or 7-26-302 , is immune from all criminal, civil, and administrative liability for the act, unless the act: is done in bad faith; and causes pecuniary loss to a vulnerable adult suspected of being a victim of financial exploitation.
Section 7-26-401(2)Verify source
§ 7-26-401(2)(a)Subsection 7-26-401(2)(a)Provision

Source excerpt

A person or entity covered by this subsection is immune from criminal, civil, and administrative liability for the act unless the act is done in bad faith.

Subsection 7-26-201(2) , is immune from all criminal, civil, and administrative liability for the act, unless the act is done in bad faith; and
Section 7-26-401(2)(a)Verify source
§ 7-26-401(2)(b)Subsection 7-26-401(2)(b)Provision

Source excerpt

A person covered by Sections 7-26-301 or 7-26-302 is immune from criminal, civil, and administrative liability for the act, unless the act is done in bad faith and causes pecuniary loss to a vulnerable adult suspected of financial exploitation.

Section 7-26-301 or 7-26-302 , is immune from all criminal, civil, and administrative liability for the act, unless the act: is done in bad faith; and causes pecuniary loss to a vulnerable adult suspected of being a victim of financial exploitation.
Section 7-26-401(2)(b)Verify source
§ 7-26-401(2)(b)(i)Subsection 7-26-401(2)(b)(i)Provision

Source excerpt

is done in bad faith; and

is done in bad faith; and
Section 7-26-401(2)(b)(i)Verify source
§ 7-26-401(2)(b)(ii)Subsection 7-26-401(2)(b)(ii)Provision

Source excerpt

Causing pecuniary loss to a vulnerable adult suspected of financial exploitation is described here.

causes pecuniary loss to a vulnerable adult suspected of being a victim of financial exploitation.
Section 7-26-401(2)(b)(ii)Verify source
§ 7-26-401(3)Subsection 7-26-401(3)Provision

Source excerpt

The section’s immunity does not apply to a principal, conspirator, or accessory after the fact to a criminal offense involving financial exploitation of a vulnerable adult.

The immunity described in this section does not extend to an individual that is a principal, a conspirator, or an accessory after the fact to a criminal offense involving the financial exploitation of a vulnerable adult.
Section 7-26-401(3)Verify source

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