This bill amends the Uniform Securities Act in Idaho by adding a new section, 30-14-511, which establishes provisions aimed at protecting certain adults from financial exploitation. The bill defines key terms such as "financial exploitation," "authorized agencies," "financial institution," "reporting person," and "specified adult." It allows reporting persons, which include broker-dealers, investment advisers, and financial institutions, to notify authorized agencies if they reasonably believe that financial exploitation of a specified adult has occurred or is likely to occur. The reporting process is designed to maintain confidentiality, ensuring that the identity of the reporting person is protected.

Additionally, the bill permits reporting persons to place a temporary hold on transactions or disbursements from accounts belonging to specified adults if they suspect financial exploitation. This hold can last up to 15 business days, with the possibility of extension under certain conditions. The bill also outlines the responsibilities of reporting persons in providing access to relevant records and grants them immunity from liability when acting in good faith. The act is set to take effect on July 1, 2025, due to an emergency declaration.