senate Bill S639

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 - Passed Senate


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

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Actions

view actions (16)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 22, 2016 referred to aging
delivered to assembly
passed senate
Feb 02, 2016 advanced to third reading
Feb 01, 2016 2nd report cal.
Jan 26, 2016 1st report cal.71
Jan 06, 2016 referred to aging
returned to senate
died in assembly
Jun 15, 2015 referred to aging
delivered to assembly
passed senate
Mar 09, 2015 advanced to third reading
Mar 04, 2015 2nd report cal.
Mar 03, 2015 1st report cal.174
Jan 07, 2015 referred to aging

Votes

view votes

Jan 26, 2016 - Aging committee Vote

S639
11
0
committee
11
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Aging committee vote details

Aging Committee Vote: Jan 26, 2016

Mar 3, 2015 - Aging committee Vote

S639
10
0
committee
10
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Aging committee vote details

Aging Committee Vote: Mar 3, 2015

aye wr (1)

Co-Sponsors

view additional co-sponsors

S639 (ACTIVE) - Details

See Assembly Version of this Bill:
A5336
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: S6221, A7892
2017-2018: S1093, A6099

S639 (ACTIVE) - Summary

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

S639 (ACTIVE) - Sponsor Memo

S639 (ACTIVE) - Bill Text download pdf

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

                                   639

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01974-01-5

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