NASAA Model Legislation or Regulation to Protect Vulnerable Adults from Financial Exploitation | Adopted January 22, 2016

 

Legislative Text & Updated Commentary
for the 2017 Legislative Session


Section 8. Immunity for Delaying Disbursements

A broker-dealer or investment adviser that, in good faith and exercising reasonable care, complies with Section 7 shall be immune from any administrative or civil liability that might otherwise arise from such delay in a disbursement in accordance with this section.


Commentary:

Section 8 is intended to provide immunity to broker-dealers and investment advisers (and any qualifying individuals therein) for delaying disbursements pursuant to Section 7.

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