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 establishes 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 the department of health and human services. This addition clarifies that financial institutions are not obligated to investigate or report suspected exploitation, thereby ensuring that their responsibilities are clearly defined. The language also removes the previous mention of law enforcement agencies in this context, streamlining the reporting process for suspected financial exploitation.

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
Enrollment: 6-08.1-03