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 while financial institutions can report such suspicions, they are not obligated to investigate or report to the protection and advocacy project, law enforcement, or the department of health and human services. The language also removes the previous requirement to report solely to law enforcement or the department of health and human services.

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