Section 10-5-103 - Delayed disbursement if financial exploitation suspected; expiration; judicial extension of delay(a) A broker-dealer or investment adviser may delay a disbursement from, or a transaction in connection with, an account of an eligible adult or an account on which an eligible adult is a beneficiary if the broker-dealer, investment adviser, or qualified individual has reasonable cause to believe that, after initiating an internal review of the requested disbursement or transaction and the suspected financial exploitation, the requested disbursement or transaction may result in the financial exploitation of the eligible adult.(b) If a broker-dealer or investment adviser delays a disbursement or transaction under subsection (a) of this Code section, the broker-dealer, investment adviser, or qualified individual shall: (1) Immediately, and in no event more than two business days after the requested disbursement or transaction was delayed, provide written notification of the delay and the reason for the delay to all parties authorized to transact business on the account, unless there is reasonable cause to believe such party engaged in the suspected or attempted financial exploitation of the eligible adult;(2) Immediately, and in no event more than two business days after the requested disbursement or transaction was delayed, notify the Commissioner pursuant to Code Section 10-5-101; and(3) Continue an internal review of the suspected or attempted financial exploitation of the eligible adult, as necessary, and report the investigation's results to the Commissioner within seven business days of the requested disbursement or transaction.(c) The authorization of any delay of a disbursement or transaction pursuant to this Code section shall expire upon the sooner of:(1) A determination by the broker-dealer or investment adviser that the disbursement or transaction will not result in the financial exploitation of the eligible adult; or(2) Fifteen business days after the date on which the broker-dealer or investment adviser first delayed the requested disbursement or transaction, unless the Commissioner requests that the broker-dealer or investment adviser extend the delay, in which case the delay shall expire no more than 25 business days after the date on which the broker-dealer or investment adviser first delayed the disbursement or transaction, unless sooner terminated by either the Commissioner or an order of a court of competent jurisdiction.(d) A court of competent jurisdiction may enter an order extending the delay of a disbursement or transaction under this Code section, or may order other protective relief, upon the petition of the Commissioner; adult protective agency of competent jurisdiction; a broker-dealer or investment adviser that initiated the delay under this Code section; or another interested party.Amended by 2024 Ga. Laws 701,§ 2, eff. 7/1/2024.Added by 2023 Ga. Laws 269,§ 1, eff. 7/1/2023.