§ 1-306. Abuse report requirements
West's Annotated Code of MarylandFinancial InstitutionsEffective: October 1, 2022
Effective: October 1, 2022
MD Code, Financial Institutions, § 1-306
§ 1-306. Abuse report requirements
(b) Notwithstanding any other provision of law, a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution may disclose financial records and any other information relating to a customer of the fiduciary institution if the fiduciary institution or its officer, employee, agent, or director:
(c) A report of financial exploitation filed under this section by a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution shall be deemed to protect against or prevent actual or potential fraud, unauthorized transactions, or other liability.
(d)(1) Notwithstanding any other law limiting or prohibiting disclosure, a fiduciary institution shall make an abuse report as provided in this subsection if an employee of the fiduciary institution, while acting within the scope of the employee's employment:
(ii) Prohibit the disclosure by a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution of an abuse report made under this subsection or a record relevant to the abuse report if the disclosure would be required by another State law, federal law, or court order.
(i) Assist employees in recognizing signs of potential financial abuse of an elder adult, such as unusual activity in an elder adult's deposit accounts, automated teller machine (ATM) withdrawals by an elder adult who previously never used an ATM or debit card, and suspicious signatures on checks; and
(e)(1) Except as provided in paragraph (2) of this subsection, a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution may decline to provide to any person information that would disclose or indicate whether a report of financial exploitation or an abuse report has or has not been filed under this section.
(2) A fiduciary institution or an officer, employee, agent, or director of a fiduciary institution may not decline to provide information requested by a person identified in subsection (d)(4)(i) of this section in connection with an investigation of suspected financial abuse or financial exploitation.
(f) Except as provided in § 1-305(c) of this subtitle, there shall be no liability on the part of and no cause of action of any nature shall arise against, and there shall be immunity from any civil and criminal liability that would otherwise result for, a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution for an action or omission involved with:
(g) Except as required under subsection (d) of this section, this section does not create and may not be construed as creating, on the part of a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution, a duty to make a disclosure to an adult protective services program or file a report of financial exploitation under this section.
(h) Notwithstanding any other provision of law, at the request of the fiduciary institution, an adult protective services agency or a law enforcement agency may, and is encouraged to, disclose the status or final disposition of an investigation of suspected financial abuse or financial exploitation to a fiduciary institution that made the report of suspected financial abuse or financial exploitation.
Credits
Added by Acts 2000, c. 407, § 1, eff. Oct. 1, 2000. Amended by Acts 2012, c. 324, § 1, eff. Oct. 1, 2012; Acts 2012, c. 325, § 1, eff. Oct. 1, 2012; Acts 2014, c. 421, § 1, eff. Oct. 1, 2014; Acts 2022, c. 227, § 1, eff. Oct. 1, 2022.
MD Code, Financial Institutions, § 1-306, MD FIN INST § 1-306
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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