NV SB369

Financial institutions, credit unions, savings banks, and thrift companies must require prospective holders of "covered accounts" (accounts of older or vulnerable persons) to either designate an emergency financial contact or formally decline to do so before opening the account.

For "covered transactions" exceeding $5,000 on accounts with a designated emergency contact, financial institutions must attempt to contact that person within 24 hours to assess whether the transaction may result from exploitation, and cannot proceed until 24 hours after the contact attempt or expiration of any temporary delay.

Designated reporters at financial institutions who know or suspect exploitation must temporarily delay covered transactions and report to the Aging and Disability Services Division, law enforcement, or county protective services within 2 business days; delays expire after 15 business days but can be extended to 25 days upon agency request.

Financial institutions and their employees receive immunity from civil, criminal, and administrative liability for good-faith reporting of suspected exploitation or delaying transactions, but face treble damages liability if they violate the emergency contact notification requirements and that violation results in exploitation of the account holder.

Account holders with accounts opened before October 1, 2025 may voluntarily designate an emergency financial contact, and financial institutions may notify existing customers about this option.