(1) After responding to an incident involving alleged physical abuse of a vulnerable adult or elder adult, a peace officer may also investigate for financial neglect, abuse, or harm.

  (2) As used in this section:

  (a) “Elder adult” means an adult who is 65 years of age or older.

  (b) “Vulnerable adult” means that term as defined in section 145m of the Michigan penal code, 1931 PA 328, MCL 750.145m.