|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 20, 2018||committed to rules|
|Mar 15, 2018||advanced to third reading|
|Mar 14, 2018||2nd report cal.|
|Mar 13, 2018||1st report cal.640|
|Jan 03, 2018||referred to aging|
|Jun 15, 2017||referred to rules|
senate Bill S6736
Archive: Last Bill Status - In Senate Committee Rules Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6736 (ACTIVE) - Details
S6736 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6736 TITLE OF BILL : 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 PURPOSE : This bill permits banking institutions to freeze single financial transactions where there is a belief that an elderly persons has been the victim of financial elder abuse. This legislation also provides training to banking officials. SUMMARY OF PROVISIONS : Amends section 473 of the social services law by adding a new subdivision 9. Defines "banking institution' to include many forms of financial institutions in New York. Defines "vulnerable elderly adult" by cross-referencing section 260.31 of the penal law. Defines "financial exploitation" to include a series of commissions or omissions with the intent to obtain control through deception, intimidation, or malicious influence, a vulnerable elderly person's assets. Defines "qualified individual" to include a person of supervisory authority at a banking institution.
S6736 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6736 2017-2018 Regular Sessions I N S E N A T E June 15, 2017 ___________ Introduced by Sen. VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Rules 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 VULNERABLE ELDERLY PERSON HAS OCCURRED OR MAY OCCUR AGAIN, THE BANKING INSTITUTION MAY, BUT SHALL NOT BE REQUIRED TO, REFUSE OR DELAY ANY EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13191-02-7
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