senate Bill S6736

2017-2018 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules Committee


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (6)
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

Votes

view votes

Mar 13, 2018 - Aging committee Vote

S6736
9
0
committee
9
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Aging committee vote details

Aging Committee Vote: Mar 13, 2018

aye wr (2)

Co-Sponsors

S6736 (ACTIVE) - Details

See Assembly Version of this Bill:
A6099
Current Committee:
Senate Rules
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

S6736 (ACTIVE) - Summary

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

S6736 (ACTIVE) - Sponsor Memo

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

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.