Section 6-08.5-01 - DefinitionsAs used in this chapter:
1. "Account" means funds or assets held by a financial service provider, including a deposit account, savings account, share account, certificate of deposit, trust account, individual retirement account, guardianship or conservatorship account, investment or securities account, retirement account, loan, extension of credit, or safe deposit box.2. "Eligible adult" means an individual who is at least sixty-five years of age or a vulnerable adult as defined in section 50-25.2-01.3. "Financial exploitation" means the wrongful or unauthorized taking, withholding, appropriation, or use of an eligible adult's money, assets, or property for one's own benefit or the benefit of a third party. The term includes defrauding an eligible adult.4. "Financial service provider" means a financial institution, credit union, savings and loan association, or trust company.5. "Financial transaction" means any of the following as applicable to the business or services provided by a financial service provider: a. A transfer or request to transfer or disburse funds or assets in an account;b. A request to initiate a wire transfer, initiate an automated clearing house transfer, or issue a money order, cashier's check, or official check;c. A request to negotiate a check or other negotiable instrument;d. A request to change the ownership of an account;e. A request for a loan, extension of credit, or draw on a line of credit; or f. A request to designate or change the designation of a beneficiary to receive any property, benefit, or contract right for an eligible adult.6. "Law enforcement agency" means an agency authorized by law to enforce the law and to conduct or engage in investigations or prosecutions for violations of the law.Added by S.L. 2019, ch. 80 (SB 2179),§ 2, eff. 8/1/2019.