In this article, unless the context otherwise requires, the following words and terms shall have the following meanings:
(1) AGENT. The same meaning as in subdivision (2) of Section 8-6-2.
(2) BROKER-DEALER. The same meaning as in subdivision (3) of Section 8-6-2.
(3) COMMISSION. The Alabama Securities Commission.
(4) DEPARTMENT. The Department of Human Resources.
(5) FINANCIAL EXPLOITATION. Any of the following:
a. The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of a vulnerable adult.
b. Any act or omission taken by a person, including through the use of a power of attorney, guardianship, or conservatorship of a vulnerable adult, to either of the following:
1. Obtain control through deception, intimidation, or undue influence over the vulnerable adult's money, assets, or property to deprive the vulnerable adult of the ownership, use, benefit, or possession of his or her money, assets, or property.
2. Convert money, assets, or property of the vulnerable adult to deprive the vulnerable adult of the ownership, use, benefit, or possession of his or her money, assets, or property.
(6) INVESTMENT ADVISER. The same meaning as in subdivision (18) of Section 8-6-2.
(7) INVESTMENT ADVISER REPRESENTATIVE. The same meaning as in subdivision (19) of Section 8-6-2.
(8) QUALIFIED INDIVIDUAL. Any agent, investment adviser representative, or person who serves in a supervisory, compliance, legal, or associated member capacity of a broker-dealer or investment adviser.
(9) REASONABLY ASSOCIATED INDIVIDUAL or ASSOCIATED MEMBER. An individual known to the investment adviser representative, broker-dealer, or firm who is reasonably associated with the account.
(10) VULNERABLE ADULT. Any of the following:
a. A person 65 years of age or older.
b. A protected person included and defined in Chapter 9 of Title 38.
Structure Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.
Section 8-6-170 - Short Title.
Section 8-6-171 - Definitions.
Section 8-6-172 - Notification of Department and Commission - Disclosure of Information.
Section 8-6-173 - Notification of Department and Commission - Liability.
Section 8-6-174 - Notification of Certain Third Parties - Disclosure of Information.
Section 8-6-175 - Notification of Certain Third Parties - Liability.
Section 8-6-176 - Delay of Disbursement - Authorized.
Section 8-6-177 - Delay of Disbursement - Liability.