assembly Bill A6099A

2017-2018 Legislative Session

Relates to the role of banking institutions in protecting vulnerable elderly persons from financial exploitation

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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 03, 2018 referred to aging
Jun 16, 2017 print number 6099a
Jun 16, 2017 amend (t) and recommit to aging
Feb 23, 2017 referred to aging

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

A6099 - Details

See Senate Version of this Bill:
S6736
Current Committee:
Assembly Aging
Law Section:
Social Services Law
Laws Affected:
Amd §473, Soc Serv L; amd §4, add §4-d, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7892
2015-2016: A5336

A6099 - Summary

Authorizes banking institutions to temporarily refuse or delay disbursement from the account of a vulnerable elderly person if certain criteria are met.

A6099 - Bill Text download pdf


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

                                  6099

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            February 23, 2017
                               ___________

Introduced  by M. of A. LUPARDO -- read once and referred to the Commit-
  tee 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.

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

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

A6099A (ACTIVE) - Details

See Senate Version of this Bill:
S6736
Current Committee:
Assembly Aging
Law Section:
Social Services Law
Laws Affected:
Amd §473, Soc Serv L; amd §4, add §4-d, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7892
2015-2016: A5336

A6099A (ACTIVE) - Summary

Authorizes banking institutions to temporarily refuse or delay disbursement from the account of a vulnerable elderly person if certain criteria are met.

A6099A (ACTIVE) - Bill Text download pdf


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

                                 6099--A

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            February 23, 2017
                               ___________

Introduced  by  M.  of A. LUPARDO, D'URSO, BRINDISI, WALLACE, SEPULVEDA,
  McDONOUGH, RAIA, BARRON, JEAN-PIERRE, BLAKE, HUNTER -- Multi-Sponsored
  by -- M. of A.  LENTOL -- 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 the role of banking institutions in protecting  vulnerable  elderly
  persons from financial exploitation

  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) WHEN USED IN THIS SUBDIVISION: (I) "BANKING INSTITUTION"  MEANS
ANY  BANK, TRUST COMPANY, SAVINGS BANK, SAVINGS AND LOAN ASSOCIATION, OR
CREDIT UNION, WHICH IS CHARTERED, ORGANIZED, OR LICENSED UNDER THE  LAWS
OF  THIS  STATE, AND IN THE COURSE OF BUSINESS TAKES DEPOSIT ACCOUNTS IN
THIS STATE, BUT SHALL NOT INCLUDE  A  PRIVATE  BANKER,  A  SAFE  DEPOSIT
COMPANY, OR AN INVESTMENT COMPANY.
  (II)  "VULNERABLE  ELDERLY  PERSON"  SHALL  HAVE  THE  SAME MEANING AS
SECTION 260.31 OF THE PENAL LAW.
  (III) "FINANCIAL EXPLOITATION" MEANS (A) A SERIES OF IMPROPER TAKINGS,
WITHHOLDINGS, APPROPRIATIONS, OR USES OF  A  VULNERABLE  ADULT'S  MONEY,
ASSETS,  OR PROPERTY OR (B) A SERIES OF ACTS OR OMISSIONS TO: (1) OBTAIN
CONTROL, THROUGH DECEPTION,  INTIMIDATION,  OR  MALICIOUS  INFLUENCE,  A
VULNERABLE ADULT'S MONEY, ASSETS, OR PROPERTY OR (2) CONVERT THE VULNER-
ABLE ADULT'S MONEY, ASSETS, OR PROPERTY.
  (IV)  "QUALIFIED  INDIVIDUAL"  MEANS  AN  INDIVIDUAL ASSOCIATED WITH A
BANKING INSTITUTION WHO SERVES IN A SUPERVISORY,  COMPLIANCE,  OR  LEGAL
CAPACITY AS PART OF THE INDIVIDUAL'S JOB.
  (B)  IF  A  BANKING  INSTITUTION,  SOCIAL  SERVICES  OFFICIAL,  OR LAW
ENFORCEMENT AGENCY REASONABLY BELIEVES THAT FINANCIAL EXPLOITATION OF  A

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

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