44-1548. Terms, defined.

356 words·~2 min read·/ne/chapter-44/44-1548

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

For purposes of the Nebraska Protection of Seniors from Insurance Exploitation Act, unless the context otherwise requires:

(1)Director means the Director of Insurance;

(2)Disbursement means any attempt to withdraw money or access a benefit from a life insurance policy or an annuity irrespective of whether the request is classified as a surrender, loan, withdrawal, partial withdrawal, accelerated benefit, or otherwise;

(3)Eligible adult means:

(a)A senior adult as defined in section 28-366.01 ; or

(b)A vulnerable adult as defined in section 28-371 ;

(4)Financial exploitation means:

(a)The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or other property of an eligible adult by any person; or

(b)Any act or omission taken by a person, including through the use of a power of attorney, guardianship, or conservatorship of an eligible adult, to:

(i)Obtain control, through deception, intimidation, or undue influence, over the eligible adult's money, assets, or other property to deprive the eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or other property; or

(ii)Convert money, assets, or other property of the eligible adult to deprive such eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or other property;

(5)Insurer means any insurance company as defined in section 44-103 regulated under laws administered by the Director of Insurance;

(6)Permissible third party means any individual previously designated by the eligible adult who may be contacted about the eligible adult's insurance policy, contract, or account, or a person otherwise permitted to be contacted by any state or federal law, rule, or regulation; and

(7)Trained individual means any of the following:

(a)An insurance producer who has taken at least two hours of continuing education focused on how to identify the suspected or attempted financial exploitation of an eligible adult, which included identifying common signs indicating the financial exploitation of an eligible adult and how to provide notification regarding the suspected or attempted financial exploitation of an eligible adult; or

(b)A person who has received training pursuant to section 44-1553 .