The bill amends section 6-08.1-03 of the North Dakota Century Code, which pertains to the duty of confidentiality for financial institutions regarding customer information. It specifies that financial institutions are prohibited from disclosing customer information to any person, governmental agency, or law enforcement agency unless certain conditions are met, such as obtaining customer consent or complying with valid legal processes.

Notably, the bill introduces new provisions allowing financial institutions to report suspected financial exploitation of eligible adults to the protection and advocacy project, as well as to law enforcement agencies and the department of health and human services. This amendment clarifies that financial institutions are not obligated to investigate or report suspected exploitation, thereby providing them with a degree of protection while still enabling necessary disclosures to relevant authorities.

Statutes affected:
INTRODUCED: 6-08.1-03
Prepared by the Legislative Council staff for Senator Hogan: 6-08.1-03
FIRST ENGROSSMENT: 6-08.1-03