8-2901. Terms, defined.
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/ne/chapter-8/8-2901A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of sections 8-2901 to 8-2903 :
(1)Account means a contract of deposit of funds between the depositor and a financial institution and:
(a)The account is owned by a vulnerable adult or senior adult, whether individually or with one or more other persons; or
(b)A vulnerable adult or senior adult is a beneficiary of the account, including a formal or informal trust account, a payable on death account, a conservatorship account, or a guardianship account;
(2)Authorized contact means an adult person designated by a vulnerable adult or senior adult to be contacted by a financial institution in the event of an emergency, a loss of contact with the customer, or suspected financial exploitation;
(3)Department means the Department of Health and Human Services;
(4)Financial exploitation means:
(a)The wrongful or unauthorized taking, withholding, appropriation, or use of the money, assets, or other property or the identifying information of a vulnerable adult or senior adult by any person; or
(b)An act or omission by a person, including through the use of a power of attorney on behalf of, or as the conservator or guardian of, a vulnerable adult or senior adult, to:
(i)Obtain control, through deception, intimidation, fraud, or undue influence, over the vulnerable adult's or senior adult's money, assets, or other property to deprive the vulnerable adult or senior adult of the ownership, use, benefit, or possession of the property; or
(ii)Convert the money, assets, or other property of a vulnerable adult or senior adult to deprive a vulnerable adult or senior adult of the ownership, use, benefit, or possession of the property;
(5)Financial institution means a bank, savings bank, building and loan association, savings and loan association, or credit union, whether chartered by the Department of Banking and Finance, the United States, or a foreign state agency; any other similar organization which is covered by federal deposit insurance; a subsidiary or affiliate of any such entity; or a trust company as defined in section 8-230 ;
(6)Law enforcement agency has the same meaning as in section 28-359 ;
(7)Senior adult has the same meaning as in section 28-366.01 ;
(8)Transaction means any of the following as applicable to services provided by a financial institution:
(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 clearinghouse 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, or access to, an account;
(e)A request for a loan, guarantee of a loan, extension of credit, or draw on a line of credit;
(f)A request to encumber any movable or immovable property, including real property, personal property, or fixtures; and
(g)A request to designate or change the designation of beneficiaries to receive any property, benefit, or contract right for a vulnerable adult or senior adult at death; and
(9)Vulnerable adult has the same meaning as in section 28-371 .