assembly Bill A5336A

2015-2016 Legislative Session

Authorizes banks to refuse payment of moneys when there is reason to believe that a vulnerable adult is being financially exploited

download bill text pdf

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Archive: Last Bill Status - In Assembly 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 (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2016 referred to aging
Feb 27, 2015 print number 5336a
Feb 27, 2015 amend and recommit to aging
Feb 18, 2015 referred to aging

Co-Sponsors

Multi-Sponsors

A5336 - Details

See Senate Version of this Bill:
S639
Current Committee:
Assembly Aging
Law Section:
Social Services Law
Laws Affected:
Amd §473, Soc Serv L; amd §4, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7892, S6221
2017-2018: A6099, S1093

A5336 - Summary

Authorizes banks to refuse payment of moneys when there is reason to believe that a vulnerable adult is being financially exploited.

A5336 - Bill Text download pdf

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

                                  5336

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 18, 2015
                               ___________

Introduced by M. of A. CYMBROWITZ, WEPRIN -- Multi-Sponsored by -- M. of
  A. SEPULVEDA -- read once and referred to the Committee on Aging

AN ACT to amend the social services law and the banking law, in relation
  to  authorizing  banking organizations 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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09166-01-5

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

view additional multi-sponsors

A5336A (ACTIVE) - Details

See Senate Version of this Bill:
S639
Current Committee:
Assembly Aging
Law Section:
Social Services Law
Laws Affected:
Amd §473, Soc Serv L; amd §4, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7892, S6221
2017-2018: A6099, S1093

A5336A (ACTIVE) - Summary

Authorizes banks to refuse payment of moneys when there is reason to believe that a vulnerable adult is being financially exploited.

A5336A (ACTIVE) - Bill Text download pdf

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

                                 5336--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 18, 2015
                               ___________

Introduced  by  M. of A. CYMBROWITZ, WEPRIN, MORELLE, SCHIMMINGER, SCAR-
  BOROUGH, MILLER -- Multi-Sponsored by -- M. of A. HEVESI, SEPULVEDA --
  read once  and  referred  to  the  Committee  on  Aging  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN ACT to amend the social services law and the banking law, in relation
  to  authorizing  banking organizations 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09166-02-5

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