APPROVED CHAPTER
JUNE 9, 2025 215
BY GOVERNOR PUBLIC LAW
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
_____
S.P. 586 - L.D. 1445
An Act to Prevent Financial Exploitation of Vulnerable Adults
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 9-B MRSA §162, sub-§5, as amended by PL 2009, c. 213, Pt. AAAA, §3,
is further amended to read:
5. Disclosure to the Department of Health and Human Services upon suspicion of
financial exploitation. The financial records are disclosed to the Department of Health
and Human Services pursuant to Title 22, section 3479 because a financial institution
authorized to do business in this State or its affiliate or a credit union authorized to do
business in this State or its affiliate has reasonable cause to suspect that an incapacitated or
dependent adult has been or is at substantial risk of abuse, neglect or exploitation; or
Sec. 2. 9-B MRSA §162, sub-§5-A is enacted to read:
5-A. Disclosure upon suspicion of financial exploitation. The financial records are
disclosed to the Office of the Attorney General or a law enforcement agency pursuant to
section 245 because a financial institution authorized to do business in this State or its
affiliate or a credit union authorized to do business in this State or its affiliate has reasonable
cause to believe that a disbursement requested by an individual 62 years of age or older
may result in financial exploitation of that person;
Sec. 3. 9-B MRSA §162, sub-§6, as enacted by PL 2009, c. 213, Pt. AAAA, §4, is
amended to read:
6. Disclosure in response to a request by the Department of Administrative and
Financial Services, Bureau of Revenue Services. The financial records are disclosed in
response to a request for information by the Department of Administrative and Financial
Services, Bureau of Revenue Services for purposes related to establishing, modifying or
enforcing tax debts.; or
Sec. 4. 9-B MRSA §245 is enacted to read:
§245. Protection of eligible adults from financial exploitation
1. Definitions. For purposes of this section, unless the context otherwise indicates,
the following terms have the following meanings.
Page 1 - 132LR1104(03)
 A. "Eligible adult" means:
(1) An individual 65 years of age or older; or
(2) An individual protected under the Adult Protective Services Act.
B. "Financial exploitation" means:
(1) The wrongful or unauthorized taking, withholding, appropriation or use of
money, assets or property of an eligible adult;
(2) Any act or omission by a person to obtain control, through deception,
intimidation or undue influence, over the eligible adult's money, assets or property
to deprive the eligible adult of the ownership, use, benefit or possession of the
eligible adult's money, assets or property; or
(3) Any act or omission by a person to obtain or exercise unauthorized control
over the eligible adult's property with the intent to deprive the eligible adult of the
property.
C. "Trusted contact person" means an individual whom an account holder identifies
and authorizes a financial institution or credit union to contact and disclose information
to about the account holder's account to address possible financial exploitation or to
confirm the specifics of the account holder's current contact information or health status
or the identity of any conservator, executor, trustee or holder of a power of attorney.
2. Designation of trusted contact person. A financial institution authorized to do
business in this State or a credit union authorized to do business in this State may develop
a written policy permitting a customer of the financial institution or member or the credit
union to designate, upon each account wholly or partly owned by the customer or member:
A. At least one trusted contact person other than a co-owner, beneficiary or fiduciary
on the account; and
B. Its procedure for communicating with the trusted contact person if the financial
institution or credit union reasonably believes that financial exploitation of an eligible
adult may have occurred, may have been attempted or is being attempted.
The financial institution or credit union shall provide a copy of any written policy
developed in accordance with this subsection to the customer or member.
3. Delay of account transactions. A financial institution authorized to do business in
this State or a credit union authorized to do business in this State may delay a disbursement
from an account of an eligible adult if the financial institution or credit union reasonably
believes that the requested disbursement may result in financial exploitation of an eligible
adult and the financial institution or credit union:
A. Not more than 2 business days after the requested disbursement, provides
notification of the delay, the reason for the delay and the name of the primary employee
of the financial institution or credit union that should be contacted regarding the delay
to the customer or member and all parties authorized to transact business on the
account, unless any such party is reasonably believed to have engaged in suspected or
attempted financial exploitation;
B. Provides notification of the delay to the Office of the Attorney General not more
than 2 business days after the requested disbursement; and
Page 2 - 132LR1104(03)
 C. Continues its internal review of the suspected or attempted financial exploitation of
the eligible adult, as necessary, and reports the results of the review to the Office of the
Attorney General within 7 business days after the day the financial institution or credit
union first delayed disbursement of the funds.
In any communication regarding a delay under this subsection, the financial institution or
credit union shall use any method of communication that may be consistent with other time-
sensitive communications and that is reasonably calculated to ensure that the recipient is
effectively alerted to the nature of the information.
A delay of a disbursement in accordance with this subsection may not continue past the
time required by the financial institution or credit union to determine that the disbursement
will not result in financial exploitation or 15 business days after the date on which the
financial institution or credit union first delayed disbursement of the funds, whichever
occurs earlier. A court of competent jurisdiction may enter an order extending the delay of
the disbursement of funds or may order other protective relief upon the petition of the
financial institution or credit union or another interested party.
4. Immunity. A financial institution authorized to do business in this State or a credit
union authorized to do business in this State that, in good faith, takes any action pursuant
to this section is immune from administrative or civil liability that might otherwise arise
from such an action or for any failure to take such an action.
5. Report to law enforcement. In addition to notifying the Office of the Attorney
General, a financial institution authorized to do business in this State or a credit union
authorized to do business in this State may make a referral to law enforcement agencies
upon imposition of a delay pursuant to subsection 3. A financial institution or credit union
may provide access to or copies of records that are relevant to the suspected or attempted
financial exploitation of an eligible adult to a law enforcement agency, either as part of a
referral to law enforcement or upon request of a law enforcement agency pursuant to an
investigation. The records may include historical records as well as records relating to the
most recent transaction that may constitute financial exploitation of an eligible adult. Any
records made available to a law enforcement agency under this section are confidential.
Page 3 - 132LR1104(03)


Statutes affected:
Bill Text ACTPUB , Chapter 215: 9-B.162