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SB 385 (2022)

Add procedures, protections for banks that suspect financial exploitation of a vulnerable adult

Summary:

Establishes procedures and legal protections for a financial institution that suspects a vulnerable adult is being financially exploited. For example, a financial institution could delay a disbursement from an account pending an investigation into financial exploitation. A "vulnerable adult" would include anyone over age 65 as well as any adult without the physical, mental, or emotional ability to manage financial affairs in his or her own best interest.

Bill Sponsor:
Bill Became Law?:
Yes
Status:
SIGNED BY GOVERNOR
Status Detail:
Signed by Governor
Public Hearing Date:
04/07/2022 01:45 pm
Public Hearing Location:
LOB Room 302-304
House Voting Date:
05/04/2022
Senate Voting Date:
02/16/2022
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