Tex.
Gov't Code Section 4004.356
Immunity
(a)
A securities professional or person serving in a legal capacity for a dealer or investment adviser who makes a notification under Section 4004.352 (Reporting Suspected Financial Exploitation of Vulnerable Adults)(a), a dealer or investment adviser that submits a report under Section 4004.352 (Reporting Suspected Financial Exploitation of Vulnerable Adults)(b) or makes a notification to a third party under Section 4004.354 (Notifying Third Parties of Suspected Financial Exploitation of Vulnerable Adults), or a securities professional or person serving in a legal capacity who or dealer or investment adviser that testifies or otherwise participates in a judicial proceeding arising from a notification or report is immune from any civil or criminal liability arising from the notification, report, testimony, or participation in the judicial proceeding, unless the securities professional, person serving in a legal capacity for the dealer or investment adviser, or dealer or investment adviser acted in bad faith or with a malicious purpose.(b)
A dealer or investment adviser that in good faith and with the exercise of reasonable care places or does not place a hold on any transaction under Section 4004.355 (Temporary Hold on Transactions in Certain Cases of Suspected Financial Exploitation of Vulnerable Adults)(a)(1) is immune from civil or criminal liability or disciplinary action resulting from the action or failure to act.
Source:
Section 4004.356 — Immunity, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.4004.htm#4004.356 (accessed May 18, 2024).
