C.R.S. § 11-113-105: Delaying disbursements - immunity.

(1) Subject to subsection (2) of this section, a financial institution or qualified individual may delay a disbursement from an account if:

(a) The financial institution or qualified individual reasonably believes that the eligible adult is subject to financial exploitation; and

(b) The financial institution or qualified individual:

(I) As soon as possible but within two business days after the requested disbursement, provides written notification, which may be delivered electronically, of the delay and the specific reason for the delay to all parties authorized to transact business on the account; except that the financial institution or qualified individual need not notify a party who is reasonably believed to have engaged in suspected or attempted financial exploitation of the eligible adult;

(II) Within two business days after the requested disbursement, makes the notification required in section 11-113-103 (1); and

(III) Continues its internal review of the suspected or attempted financial exploitation of the eligible adult, as necessary.

(2) (a) Subject to subsection (2)(b) of this section, a delay of a disbursement authorized by this section may continue until:

(I) The financial institution or qualified individual reasonably believes that the eligible adult is not subject to financial exploitation;

(II) Local law enforcement or the county agency handling adult protective services, depending on which agency is conducting the investigation, concludes its investigation; or

(III) A court orders that the delay be removed.

(b) The financial institution or qualified individual shall make the determination described in subsection (2)(a)(I) of this section within ninety days after beginning the delay; except that the financial institution or qualified individual may delay the disbursement for an additional ninety days after the initial delay if the financial institution or qualified individual has made the notification required in section 11-113-103 (1) and the disbursement is pending the conclusion of an investigation of local law enforcement or the county agency handling adult protective services, as applicable.

(c) A court may enter an order extending the delay of a disbursement or may order other protective relief based on a petition of an agency providing protective services for eligible adults, a financial institution or qualified individual that initiated the delay under this section, or another interested party.

(3) (a) A financial institution or qualified individual shall reasonably release the disbursement authorized by this section if the financial institution, a qualified individual, local law enforcement, a county agency handling adult protective services, or a court determines that the eligible adult is not subject to financial exploitation.

(b) A financial institution or qualified individual may refuse the disbursement authorized by this section upon a finding of financial exploitation by local law enforcement, a county agency handling adult protective services, or a court or upon the expiration of the one-hundred-eighty-day period described in subsection (2)(b) of this section if local law enforcement or a county agency handling adult protective services has not notified the financial institution or qualified individual of the findings of the investigation.

(4) A financial institution or qualified individual that, in good faith and exercising reasonable care, complies with this section is immune from administrative or civil liability that might otherwise arise from a delay of a disbursement in accordance with this section.