2019 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 13D - Protecting Vulnerable Adults from Financial Exploitation
Section 58-13D-3 - Third-party and agency disclosure.
A. If a broker-dealer, investment adviser or qualified individual reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted or is being attempted, a broker-dealer, investment adviser or qualified individual:
(1) shall promptly notify the agencies;
(2) shall attempt to notify a third-party previously designated by the eligible adult; and
(3) may attempt to notify a third-party that is not designated but is reasonably associated with the eligible adult.
B. Disclosure shall not be made to a designated third-party that is at the time of disclosure suspected of financial exploitation or other abuse of the eligible adult.
History: Laws 2017, ch. 106, § 3.
ANNOTATIONSEffective dates. — Laws 2017, ch. 106, § 9 made Laws 2017, ch. 106, § 3 effective July 1, 2017.
