Assembly Actions - Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 12, 2014 | referred to banks delivered to assembly passed senate |
May 19, 2014 | advanced to third reading |
May 14, 2014 | 2nd report cal. |
May 13, 2014 | 1st report cal.639 |
Jan 08, 2014 | referred to aging |
senate Bill S6221
Sponsored By
David J. Valesky
(D, IP) 0 Senate District
Archive: Last Bill Status - Passed Senate
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Your Voice
Actions
Votes
Co-Sponsors
David Carlucci
(D) 38th Senate District
Patrick M. Gallivan
(R, C, IP, RFM) 59th Senate District
Martin J. Golden
(R, C, IP) 0 Senate District
Malcolm A. Smith
(D, WF) 0 Senate District
S6221 (ACTIVE) - Details
S6221 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6221 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, social services official, or law enforcement agency that reasonably believes that the financial exploitation of a vulnerable adult has occurred or may occur, then a banking organization may 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 enforcement 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 that relates to the provision of Adult. Protective Services. This bill adds a new subdivision 8 to authorize that if a banking organization, social
S6221 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6221 I N S E N A T E (PREFILED) January 8, 2014 ___________ Introduced by Sen. VALESKY -- 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
Comments
Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.
By contributing or voting you agree to the Terms of Participation and verify you are over 13.