8-2905. Terms, defined.

For purposes of the Nebraska Protection of Vulnerable Adults from Financial Exploitation Act, unless the context otherwise requires:

(1) Agencies means:

(a) The Adult Protective Services Division of the Department of Health and Human Services; and

(b) The Department of Banking and Finance;

(2) Agent has the same meaning as in section 8-1101;

(3) Broker-dealer has the same meaning as in section 8-1101;

(4) Eligible adult means:

(a) A senior adult as defined in section 28-366.01; or

(b) A vulnerable adult as defined in section 28-371;

(5) Financial exploitation means:

(a) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or other property of an eligible adult; or

(b) Any act or omission taken by a person, including through the use of a power of attorney, guardianship, or conservatorship of an eligible adult, to:

(i) Obtain control, through deception, intimidation, or undue influence, over the eligible adult's money, assets, or other property to deprive the eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or other property; or

(ii) Convert money, assets, or other property of the eligible adult to deprive such eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or other property;

(6) Investment adviser has the same meaning as in section 8-1101;

(7) Investment adviser representative has the same meaning as in section 8-1101; and

(8) Qualified person means any broker-dealer, investment adviser, agent, investment adviser representative, or person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser.

Source:Laws 2021, LB297, ยง 2.
Effective Date: August 28, 2021