A01432
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
1430
Session of
2021
INTRODUCED BY DAY, MASSER, SCHLEGEL CULVER, KLUNK, PICKETT,
RYAN, DAVANZO, HILL-EVANS, LEWIS DELROSSO, BROOKS, R. BROWN,
THOMAS, MILLARD, HEFFLEY AND FEE, MAY 17, 2021
REFERRED TO COMMITTEE ON AGING AND OLDER ADULT SERVICES,
MAY 17, 2021
AN ACT
Amending the act of November 6, 1987 (P.L.381, No.79), entitled
"An act relating to the protection of the abused, neglected,
exploited or abandoned elderly; establishing a uniform
Statewide reporting and investigative system for suspected
abuse, neglect, exploitation or abandonment of the elderly;
providing protective services; providing for funding; and
making repeals," providing for immunity for financial
advisors, for private right of action and for financial
crimes surcharge; establishing the Older Adult Financial
Exploitation Trust Fund; and conferring powers and imposing
duties on the Department of Aging. providing for private
right of action relating to financial exploitation and for
financial crimes surcharge.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of November 6, 1987 (P.L.381, No.79),
known as the Older Adults Protective Services Act, is amended by
adding a chapter to read:
CHAPTER 9
FINANCIAL EXPLOITATION
Section 901. Definitions.
The following words and phrases when used in this chapter
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shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Financial crimes." Any of the offenses under the following
provisions of 18 Pa.C.S. (relating to crimes and offenses):
(1) Section 3921 (relating to theft by unlawful taking
or disposition).
(2) Section 3922 (relating to theft by deception).
(3) Section 3923 (relating to theft by extortion).
(4) Section 3924 (relating to theft of property lost,
mislaid, or delivered by mistake).
(5) Section 3925 (relating to receiving stolen
property).
(6) Section 3926 (relating to theft of services).
(7) Section 3927 (relating to theft by failure to make
required disposition of funds received).
(8) Section 3928 (relating to unauthorized use of
automobiles and other vehicles).
(9) Section 3934 (relating to theft from a motor
vehicle).
(10) Section 4101 (relating to forgery).
(11) Section 4105 (relating to bad checks).
(12) Section 4106 (relating to access device fraud).
(13) Section 4107 (relating to deceptive or fraudulent
business practices).
(14) Section 4117 (relating to insurance fraud).
(15) Section 4120 (relating to identity theft).
"Financial exploitation." The wrongful or unauthorized
taking or attempt to take by withholding, appropriating,
concealing or using the money, assets or property of an older
adult through:
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(1) the use of a power of attorney, guardianship or
custodial, representative or conservator relationship; or
(2) a business transaction that involves deception,
intimidation, undue influence or conversion and that deprives
the older adult of the lawful ownership, use or benefit of
the money, assets or property. , including any act or omission
taken by a person, including through the use of a power of
attorney, guardian, custodian, trustee, personal
representative or conservator of an older adult or by an
individual who stands in a position of trust and confidence
with an older adult, including business transactions to:
(1) obtain or attempt to obtain control, through
deception, intimidation or undue influence, over the older
adult's money, assets or property to deprive the older adult
of the ownership, use, benefit or possession of the older
adult's money, assets or property; or
(2) convert or attempt to convert money, assets or
property of the older adult to deprive the older adult of the
ownership, use, benefit or possession of the older adult's
money, assets or property.
"Fund." The Older Adult Financial Exploitation Trust Fund
established under section 905.
Section 902. Immunity for financial advisors.
(a) General rule.--A financial advisor who has reasonable
cause to believe an older adult is being financially exploited
may report to a law enforcement agency or government agency
information pertaining to any of the following:
(1) The possible financial exploitation.
(2) Fiduciary abuse.
(3) Fraud.
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(b) Immunity.--A financial advisor making a report under
subsection (a) in good faith shall not be civilly or criminally
liable for the financial advisor's action in making the report.
Section 903 902 . Private right of action.
(a) General rule.--Any older adult who is injured by an act
of financial exploitation or by any person authorized to act in
a fiduciary capacity on behalf of the older adult may institute
an action, in the court of common pleas or any other court of
competent jurisdiction, for damages sustained by the older
adult.
(b) Award.--The following shall apply:
(1) If it is proven by a preponderance of the evidence
that a person has engaged in financial exploitation, the
court shall award reasonable attorney fees and costs to the
older adult, in addition to compensatory damages and all
other remedies otherwise provided by law.
(2) In addition to the relief provided under paragraph
(1), if it is proven by clear and convincing evidence that
the financial exploitation was done willfully, wantonly or
maliciously or was characterized by aggravating
circumstances, the court may also award punitive damages to
the older adult.
(c) Nonexclusivity.--The remedies provided in this section
shall not be considered exclusive and shall not preclude any
other criminal, civil or administrative remedy.
Section 904 903 . Financial crimes surcharge.
In addition to sentencing a person who has committed a
financial crime against an older adult, the court of competent
jurisdiction shall assess a surcharge of $100 against the
person. The surcharge shall be collected and transferred to the
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Department of Revenue for deposit into the fund established
under section 905.
Section 905. Older Adult Financial Exploitation Trust Fund.
(a) Establishment.--The Older Adult Financial Exploitation
Trust Fund is established in the State Treasury.
(b) Contents.--The fund shall consist of:
(1) Surcharges collected under section 904.
(2) Return on the money in the fund.
(c) Purpose.--The fund shall be used to assist older adults
who are the victims of financial exploitation to recover their
income.
(d) Regulations.--The department shall promulgate
regulations to administer this section. by the Administrative
Office of Pennsylvania Courts for deposit into the State Lottery
Fund.
Section 2. This act shall take effect in 60 days.
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