1Amending the act of November 6, 1987 (P.L.381, No.79), entitled
2"An act relating to the protection of the abused, neglected,
3exploited or abandoned elderly; establishing a uniform
4Statewide reporting and investigative system for suspected
5abuse, neglect, exploitation or abandonment of the elderly;
6providing protective services; providing for funding; and
7making repeals," providing for immunity for financial
8advisors, for private right of action and for a financial
9crimes surcharge; establishing the Older Adult Financial
10Exploitation Trust Fund; and conferring powers and imposing
11duties on the Department of Aging.

12The General Assembly of the Commonwealth of Pennsylvania
13hereby enacts as follows:

14Section 1. The act of November 6, 1987 (P.L.381, No.79),
15known as the Older Adults Protective Services Act, is amended by
16adding a chapter to read:

17CHAPTER 9

18FINANCIAL EXPLOITATION

19Section 901. Definitions.

20Section 902. Immunity for financial advisors.

21Section 903. Private right of action.

1Section 904. Financial crimes surcharge.

2Section 905. Older Adult Financial Exploitation Trust Fund.

3Section 901. Definitions.

4The following words and phrases when used in this chapter
5shall have the meanings given to them in this section unless the
6context clearly indicates otherwise:

7"Financial crimes." Any of the offenses under the following
8provisions of 18 Pa.C.S. (relating to crimes and offenses):

9(1) Section 3921 (relating to theft by unlawful taking
10or disposition).

11(2) Section 3922 (relating to theft by deception).

12(3) Section 3923 (relating to theft by extortion).

13(4) Section 3924 (relating to theft of property lost,
14mislaid, or delivered by mistake).

15(5) Section 3925 (relating to receiving stolen
16property).

17(6) Section 3926 (relating to theft of services).

18(7) Section 3927 (relating to theft by failure to make
19required disposition of funds received).

20(8) Section 3928 (relating to unauthorized use of
21automobiles and other vehicles).

22(9) Section 3934 (relating to theft from a motor
23vehicle).

24(10) Section 4101 (relating to forgery).

25(11) Section 4105 (relating to bad checks).

26(12) Section 4106 (relating to access device fraud).

27(13) Section 4107 (relating to deceptive or fraudulent
28business practices).

29(14) Section 4117 (relating to insurance fraud).

30(15) Section 4120 (relating to identity theft).

1"Fund." The Older Adult Financial Exploitation Trust Fund
2established under section 905.

3Section 902. Immunity for financial advisors.

4(a) General rule.--A financial advisor who has reasonable
5cause to believe an older adult is being financially exploited
6may report to a law enforcement agency or government agency
7information pertaining to any of the following:

8(1) The possible financial exploitation.

9(2) Fiduciary abuse.

10(3) Fraud.

11(b) Immunity.--A financial advisor making a report under
12subsection (a) in good faith shall not be civilly or criminally
13liable for the financial advisor's action in making the report.

14Section 903. Private right of action.

15(a) General rule.--Any older adult who is injured by an act
16of financial exploitation or any person authorized to act on
17behalf of the older adult may institute an action, in the court
18of common pleas, or any other court of competent jurisdiction,
19for damages sustained by the older adult.

20(b) Award.--The following shall apply:

21(1) If it is proven by a preponderance of the evidence
22that a person has engaged in financial exploitation, the
23court shall award reasonable attorney fees and costs to the
24older adult, in addition to compensatory damages and all
25other remedies otherwise provided by law.

26(2) In addition to the relief provided under paragraph
27(1), if it is proven by clear and convincing evidence that
28the financial exploitation was done willfully, wantonly or
29maliciously or was characterized by aggravating
30circumstances, the court may also award punitive damages to

1the older adult.

2(c) Nonexclusivity.--The remedies provided in this section
3shall not be considered exclusive and shall not preclude any
4other criminal, civil or administrative remedy.

5Section 904. Financial crimes surcharge.

6In addition to sentencing a person who has committed a
7financial crime against an older adult, the court of competent
8jurisdiction shall assess a surcharge of $100 against the
9person. The surcharge shall be collected and transferred to the
10Department of Revenue for deposit into the fund established
11under section 905.

12Section 905. Older Adult Financial Exploitation Trust Fund.

13(a) Establishment.--The Older Adult Financial Exploitation
14Trust Fund is established as a separate fund in the State
15Treasury.

16(b) Sources.--The following are the sources of the fund:

17(1) Surcharges collected under section 904.

18(2) Return on the money in the fund.

19(c) Purpose.--The department shall use moneys in the fund
20for the purpose of assisting older adults who are the victims of
21financial exploitation to recover their income.

22(d) Regulations.--The department shall promulgate
23regulations to administer this section.

24Section 2. This act shall take effect in 60 days.