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Can you summarize Tex. Penal Section 32.55?
OTHER DECEPTIVE PRACTICES > FINANCIAL ABUSE OF ELDERLY INDIVIDUAL.
Short Summary
This section of the Texas Penal Code addresses the financial abuse of elderly individuals. It defines ’elderly individual’ as per Section 22.04 and ‘financial abuse’ as the wrongful taking, appropriation, obtaining, retention, or use of money or other property of another person, including by exerting undue influence. Financial exploitation, which involves coercion, manipulation, threats, intimidation, misrepresentation, or exerting undue influence, is also included in the definition. The section provides examples of financial exploitation, such as the breach of a fiduciary relationship, unauthorized taking of personal assets, misappropriation or unauthorized transfer of money from personal or joint accounts, and failure to effectively use another person’s income and assets for their support and maintenance. It further specifies that a person has a relationship of confidence or trust with another person if they are a parent, spouse, adult child, relative, joint tenant, tenant in common, have a legal or fiduciary relationship, are a financial planner or investment professional, or are a paid or unpaid caregiver. Knowingly engaging in the financial abuse of an elderly individual is an offense, with varying degrees of severity based on the value of the property involved. The section also establishes a rebuttable presumption that any transfer, appropriation, or use of an elderly individual’s money or property by a caregiver is wrongful if it is shown that the elderly individual had been diagnosed with dementia, Alzheimer’s disease, or a related disorder at the time of the offense.
Whom does it apply to?
Any person who engages in the financial abuse of an elderly individual
What does it govern?
Financial abuse of elderly individuals
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Class B misdemeanor for property value less than $100, Class A misdemeanor for property value $100 or more but less than $750, state jail felony for property value $750 or more but less than $2,500, felony of the third degree for property value $2,500 or more but less than $30,000, felony of the second degree for property value $30,000 or more but less than $150,000, felony of the first degree for property value $150,000 or more
Jurisdiction
Texas