As used in this article, unless the context requires otherwise, the following terms have the following meanings:

(1) ACCOUNT. Funds or assets held by a financial service provider, including, but not limited to, a deposit account, checking account, money market account, savings account, share account, certificate of deposit, trust account, individual retirement account or other type of retirement account, guardianship or conservatorship account, investment or securities account, loan, credit card, or any extension of credit, including a home equity line of credit.

Terms Used In Alabama Code 8-6-192

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • following: means next after. See Alabama Code 1-1-1
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • property: includes both real and personal property. See Alabama Code 1-1-1
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • real property: includes lands, tenements and hereditaments. See Alabama Code 1-1-1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(2) ELDERLY ADULT. An individual 65 years of age or older.
(3) FINANCIAL EXPLOITATION. Any of the following:

a. The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of an elderly or vulnerable adult, including incurring debt in the name of an elderly or vulnerable adult for the benefit of a third party.
b. Any act or omission taken by a person, including through the use of a power of attorney, guardianship, or conservatorship of an elderly or vulnerable adult, to either of the following:

1. Obtain control through deception, intimidation, or undue influence over the elderly or vulnerable adult’s money, assets, or property to deprive the elderly or 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 elderly or vulnerable adult to deprive the elderly or vulnerable adult of the ownership, use, benefit, or possession of his or her money, assets, or property.
(4) FINANCIAL SERVICE PROVIDER. Any entity, including its employees and officers, regulated by the Alabama Credit Union Administration or the State Banking Department, or similar federal regulatory agency, engaged in or transacting business in this state, including, but not limited to, a state or national bank or trust company; a state or federal savings and loan association; a state or federal credit union; an industrial loan and thrift company; a mortgage loan lender, broker, originator, or servicer; a title pledge lender; a deferred presentment services provider; a pawnbroker; or a small loan lender.
(5) FINANCIAL TRANSACTION. Any of the following:

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 clearing house 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 an account.
e. A request for a loan, extension of credit, or draw on a line of credit.
f. A request to transfer the title to any real property or the title of any motor vehicle or mobile home, or to encumber such real property, motor vehicle, or mobile home.
(6) LAW ENFORCEMENT AGENCY. Any municipal, county, state, or federal agency the personnel of which have the power to arrest and to perform law enforcement functions, including prosecutorial entities.
(7) VULNERABLE ADULT. An individual 18 years of age or older who, because of mental or physical impairment, is unable to fully manage his or her own resources, carry out all or a portion of the activities of daily living, or is unable to fully protect against neglect, exploitation, or hazardous or abusive situations without assistance from others.
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