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. These conditions include obtaining customer consent, complying with valid legal processes, reporting suspected violations of the law, and notifying the agriculture commissioner about mediation services.

A significant addition to the bill is the inclusion of provisions that allow 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. The language clarifies that financial institutions are not obligated to investigate or report suspected exploitation, thereby protecting them from potential liability. The bill also removes the previous requirement to report solely to law enforcement agencies, expanding the scope of reporting entities.

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