Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 24, 2014 |
referred to aging |
Senate Bill S6451
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Aging Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2013-S6451 (ACTIVE) - Details
- Current Committee:
- Senate Aging
- Law Section:
- Social Services Law
- Laws Affected:
- Amd §473, Soc Serv L; amd §4, Bank L
2013-S6451 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6451 TITLE OF BILL: An act to amend the social services law and the banking law, in relation to authorizing banking institutions to refuse to disburse moneys in circumstances of the financial exploitation of a vulnerable adult PURPOSE: This legislation would authorize a banking organization, upon the reasonable belief of the organization, a social services organiza- tion, or a law enforcement agency, that the financial exploitation of a vulnerable adult has occurred or may occur, to refuse to conduct any transaction that requires the dispersal of moneys in the account of a vulnerable adult or moneys held for the benefit of such adult. This legislation also authorizes a banking organization to provide access to or copies of historical records or recent transactions relevant to suspected financial exploitation of a vulnerable adult to law enforce- ment agencies and social service officials responsible for administering the provisions of this article. The term financial exploitation of an adult is as defined in Social Services Law section 473. SUMMARY OF PROVISIONS: Section 1: Amends the Social Services Law 473, relating to the provision of Adult Protective Services. This bill adds a new subdivision 9 to authorize a banking organization, which reasonably believes that the financial exploitation of a vulnerable adult has occurred, to refuse to
2013-S6451 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6451 I N S E N A T E January 24, 2014 ___________ Introduced by Sen. ZELDIN -- read twice and ordered printed, and when printed to be committed to the Committee on Aging AN ACT to amend the social services law and the banking law, in relation to authorizing banking institutions to refuse to disburse moneys in circumstances of the financial exploitation of a vulnerable adult THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 473 of the social services law is amended by adding a new subdivision 9 to read as follows: 9. (A) AS USED IN THIS SUBDIVISION: (I) "BANKING INSTITUTION" MEANS ANY STATE OR FEDERALLY CHARTERED BANK, TRUST COMPANY, SAVINGS BANK, SAVINGS AND LOAN ASSOCIATION OR, CREDIT UNION. (II) "VULNERABLE ADULT" MEANS AN INDIVIDUAL WHO BECAUSE OF MENTAL AND/OR PHYSICAL IMPAIRMENT, IS UNABLE TO MANAGE HIS OR HER OWN RESOURCES, OR PROTECT HIMSELF OR HERSELF FROM FINANCIAL EXPLOITATION. (B) IF A BANKING INSTITUTION, SOCIAL SERVICES OFFICIAL OR LAW ENFORCE- MENT AGENCY REASONABLY BELIEVES THAT FINANCIAL EXPLOITATION OF A VULNER- ABLE ADULT HAS OCCURRED OR MAY OCCUR, THE BANKING INSTITUTION MAY, BUT SHALL NOT BE REQUIRED TO, REFUSE ANY TRANSACTION REQUIRING THE DISBURSAL OF MONEYS IN THE ACCOUNT OF: (I) A VULNERABLE ADULT; (II) WHICH A VULNERABLE ADULT IS A BENEFICIARY, INCLUDING TRUST AND GUARDIANSHIP ACCOUNTS; AND (III) A PERSON WHO IS SUSPECTED OF ENGAGING IN THE FINANCIAL EXPLOITA- TION OF A VULNERABLE ADULT. (C) A BANKING INSTITUTION MAY ALSO REFUSE TO DISBURSE MONEYS PURSUANT TO THIS SUBDIVISION IF A SOCIAL SERVICES OFFICIAL OR LAW ENFORCEMENT AGENCY PROVIDES INFORMATION TO SUCH INSTITUTION DEMONSTRATING THAT IT IS REASONABLE TO BELIEVE THAT FINANCIAL EXPLOITATION OF A VULNERABLE ADULT HAS OCCURRED OR MAY OCCUR. (D) A BANKING INSTITUTION SHALL NOT BE REQUIRED TO REFUSE TO DISBURSE FUNDS PURSUANT TO THIS SECTION. SUCH A REFUSAL SHALL BE IN THE BANKING EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11512-03-4
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