SB 510

This bill creates a civil cause of action for financial exploitation of a vulnerable

person. The bill defines the term “vulnerable person" to include persons who are

elderly, financially incapable, incapacitated, or those with a disability who are

susceptible to force, threat, duress, coercion, persuasion, or physical or emotional

injury because of a physical or mental impairment. Under the bill, an action for

injury or damages suffered by reason of financial exploitation may be brought

against a person who has caused the financial exploitation or allowed another person

to engage in the financial exploitation by 1) the vulnerable person who suffered the

alleged financial exploitation; 2) a guardian or conservator for the vulnerable person;

3) a personal representative for the estate of a decedent who was the vulnerable

person when the cause of action arose; or 4) a trustee for a trust on behalf of either

a trustor who is the vulnerable person or the spouse of a trustor who is the vulnerable

person.

The bill provides that an action may be brought if a person wrongfully takes or

appropriates money or property of a vulnerable person, without regard to whether

the person taking or appropriating the money or property has a fiduciary

relationship with the vulnerable person. An action may also be brought under the

bill in certain circumstances if a vulnerable person requests the transfer of money

or property that is held in trust and the other person, without good cause, either

continues to hold the money or property or fails to take reasonable steps to make the

money or property readily available to the vulnerable person. The bill also allows

for an action against a person for permitting another person to engage in financial

exploitation if the person knowingly acts or fails to act under circumstances in which

a reasonable person should have known of the financial exploitation.

Under the bill, a court must award a person who brings a successful action

enhanced damages, attorney fees, and reasonable fees for any necessary services of

a conservator or guardian ad litem.