senate Bill S2162

2013-2014 Legislative Session

Relates to reporting of financial exploitation; and establishes a financial exploitation, outreach, education and training program and fund

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to banks
Jan 14, 2013 referred to banks

Co-Sponsors

S2162 - Details

See Assembly Version of this Bill:
A5604
Current Committee:
Law Section:
Banking Law
Laws Affected:
Add §9-v, Bank L; amd §202, add §219-a, Eld L; add §99-u, St Fin L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S6756, A4541A
2009-2010: A3886

S2162 - Summary

Relates to reporting of financial exploitation; establishes a financial exploitation, outreach, education and training program and fund.

S2162 - Sponsor Memo

S2162 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2162

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 14, 2013
                               ___________

Introduced  by  Sen. VALESKY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Banks

AN ACT to amend the banking law and the elder law, in relation to finan-
  cial exploitation; and to amend the state finance law, in relation  to
  establishing  the  financial  exploitation,  outreach,  education  and
  training fund

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The banking law is amended by adding a new section 9-v to
read as follows:
  S 9-V. REPORTING OF SUSPECTED FINANCIAL EXPLOITATION. 1.  AS  USED  IN
THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  (A) "FINANCIAL INSTITUTION" SHALL MEAN ANY OF THE FOLLOWING:
  (1) A DEPOSITORY INSTITUTION, AS DEFINED IN SECTION 3(C) OF THE FEDER-
AL DEPOSIT INSURANCE ACT (12 U.S.C. SEC. 1813(C)).
  (2) AN INSTITUTION-AFFILIATED PARTY, AS DEFINED IN SECTION 3(U) OF THE
FEDERAL DEPOSIT INSURANCE ACT (12 U.S.C. SEC. 1813(U)).
  (3)  A  FEDERAL  CREDIT  UNION  OR  STATE  CREDIT UNION, AS DEFINED IN
SECTION 101 OF THE FEDERAL CREDIT  UNION  ACT  (12  U.S.C.  SEC.  1752),
INCLUDING,  BUT  NOT  LIMITED  TO,  AN INSTITUTION-AFFILIATED PARTY OF A
CREDIT UNION, AS DEFINED IN SECTION 206(R) OF THE FEDERAL  CREDIT  UNION
ACT (12 U.S.C.  SEC. 1786(R)).
  (B) "ELDERLY PERSON" SHALL MEAN A PERSON SIXTY YEARS OF AGE OR OLDER.
  (C)  "FINANCIAL  EXPLOITATION"  SHALL  MEAN IMPROPER USE OF AN ELDERLY
PERSON'S FUNDS, PROPERTY OR RESOURCES BY ANOTHER  INDIVIDUAL,  INCLUDING
BUT  NOT LIMITED TO FRAUD, FALSE PRETENSES, MISREPRESENTATION, EMBEZZLE-
MENT, CONSPIRACY, FORGERY, FALSIFYING RECORDS, COERCED  PROPERTY  TRANS-
FERS OR DENIAL OF ACCESS TO ASSETS.
  2. ANY CERTIFIED PUBLIC ACCOUNTANT OR ATTORNEY LICENSED IN THIS STATE,
ANY  PREPARER  OF  TAXES  OPERATING  IN  THIS  STATE, AND ANY OFFICER OR
EMPLOYEE OF A FINANCIAL  INSTITUTION  LOCATED  WITHIN  THIS  STATE,  WHO

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04824-01-3

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