Utah § 61-1-204 - Delaying disbursements or transactions.

Full text of Utah Utah Code § 61-1-204 — Delaying disbursements or transactions., with citation guidance and answers to common questions.

§ 61-1-204. Delaying disbursements or transactions.

Effective 5/8/2018
61-1-204.  Delaying disbursements or transactions.
(1) A broker-dealer or an investment adviser may delay a disbursement or transaction from an eligible adult's account or from an account on which the eligible adult is a beneficiary, if the broker-dealer or investment adviser:
(a) suspects that the disbursement or transaction may result in the financial exploitation of an eligible adult;
(b) initiates an internal review of the disbursement or transaction and the suspected financial exploitation of an eligible adult;
(c) after initiating the internal review, reasonably believes that the disbursement or transaction may result in the financial exploitation of an eligible adult;
(d) within two business days after the day on which the disbursement or transaction is delayed, provides written notification of the delay and the reason for the delay to:
(i) each party authorized to transact business on the account, unless the party is reasonably believed to have engaged in suspected or attempted financial exploitation of the eligible adult;
(ii) the division; and
(iii) Adult Protective Services;
(e) continues the broker-dealer's or investment adviser's internal review of the suspected or attempted financial exploitation of the eligible adult, as necessary; and
(f) upon request, provides a timely report on the status and results of the internal review to the division or Adult Protective Services.
(2) Except as provided in Subsection (3), a delay of a disbursement or transaction under Subsection (1) expires the earlier of:
(a) the day on which the broker-dealer or investment adviser determines that the disbursement or transaction will not result in the financial exploitation of an eligible adult; or
(b) 15 business days after the day on which the broker-dealer or investment adviser initially delayed the disbursement or transaction.
(3) If an internal review described in Subsection (1) supports a reasonable belief that a person has engaged in or attempted to engage in the financial exploitation of an eligible adult, the division or Adult Protective Services may extend the delay of the disbursement or transaction under Subsection (1) as reasonably necessary.
(4) A court of competent jurisdiction may enter an order terminating or extending a delay under this section or granting other protective relief.


Enacted by Chapter 159, 2018 General Session

Source: official Utah text · Last verified 2026-08-27

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Frequently Asked Questions About Utah § 61-1-204

What does Utah Code § 61-1-204 cover?

Section 61-1-204 ("Delaying disbursements or transactions.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Utah § 61-1-204?

A common citation format is "Utah Code § 61-1-204" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Utah law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.

How does Utah § 61-1-204 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Utah.