Indiana Code 30-5-5-6.5. Definitions
(1) “Account” means any account that a specified adult may access or use to transact business.
Terms Used In Indiana Code 30-5-5-6.5
- 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
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- 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 personal and real property. See Indiana Code 1-1-4-5
(3) “Financial exploitation” means:
(A) the unlawful or unauthorized taking, withholding, appropriation, or use of a specified adult’s funds or securities; or
(B) any:
(i) act;
(ii) omission;
(iii) use of a power of attorney;
(iv) use of a guardianship; or
(v) use of any other legal authority concerning a specified adult;
to obtain control over the specified adult’s money, assets, or property or to convert the specified adult’s money, assets, or property through use of deception, intimidation, or undue influence.
(4) “Specified adult” means:
(A) a person not less than sixty-five (65) years of age; or
(B) a person who:
(i) is at least eighteen (18) years of age; and
(ii) has a mental or physical impairment that prohibits the person from protecting the person’s interests.
(5) “Trusted contact person” means a person who may be contacted about matters concerning a specified adult’s account.
(b) Language conferring general authority concerning financial exploitation authorizes the attorney in fact to do one (1) or more of the following:
(1) Serve as the trusted contact person for the principal.
(2) Designate or change the trusted contact person for a specified adult.
(3) Authorize a person described in subdivision (1) or (2) to:
(A) receive notice of financial exploitation; or
(B) act on behalf of a specified adult in response to financial exploitation.
(4) Act to prevent, stop, correct, or remediate account losses incurred as a result of financial exploitation.
(c) A power of attorney that:
(1) is executed before July 1, 2019; and
(2) confers general authority with respect to all other matters;
also confers general authority to address any issues concerning the financial exploitation of an account.
As added by P.L.231-2019, SEC.38.