§ 7-11.2-2. Definitions. As used in this chapter, the following words and phrases shall have the following meanings unless the context otherwise requires:
(1) "Agent" means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities; provided, that a partner, officer, or director of a broker-dealer or issuer, or an individual having a similar status or performing similar functions, is an agent only if the individual otherwise comes within the term. The term does not include an individual excluded by rule adopted or order issued under this chapter.
(2) "Broker-dealer" means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. The term does not include:
(i) An agent;
(ii) An issuer;
(iii) A bank, a trust company organized or chartered under the laws of this state, or a savings institution, if its activities as a broker-dealer are limited to those specified in the Securities Exchange Act of 1934, as amended (15 U.S.C. Section 78a et seq.) or a bank that satisfies the conditions described in the Securities Exchange Act of 1934, as amended (15 U.S.C. Sections 78a et seq.);
(iv) An international banking institution; or
(v) A person excluded by rule adopted or order issued under this chapter.
(3) "Financial exploitation" means the wrongful or unauthorized taking, withholding, appropriation, or use of money, real property, or personal property of a qualified adult.
(4) "Immediate family member" means a spouse, child, parent, or sibling of a qualified adult.
(5) "Qualified adult" means:
(i) A person sixty (60) years of age or older; or
(ii) A person who:
(A) Has a mental or physical impairment that substantially limits one or more major life activities, whether the impairment is congenital or acquired by accident, injury, or disease, where the impairment is verified by medical findings; and
(B) Is between the ages of eighteen (18) and fifty-nine (59).
(6) "Qualified individual" means a person associated with a broker-dealer who serves in a supervisory, compliance, or legal capacity as part of his or her job.
History of Section. (P.L. 2019, ch. 225, § 1; P.L. 2019, ch. 231, § 1.)
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