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HB147 Alabama 2021 Session

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In Committee

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1 Bill Summary
2 Bill Actions
3 Bill Calendar
4 Bill Text
5 Bill Votes
6 Bill Documents

Bill Summary

Sponsors

Chris Blackshear

Session

Regular Session 2021

Title

Financial institutions, authorized to refuse to execute or delay execution of certain financial transactions involving account of an elderly or vulnerable adult when financial exploitation may have occurred, may have been attempted, or is being attempted

Description

This bill would allow a financial institution to refuse or delay a financial transaction on an account of an elderly or vulnerable adult, on an account on which an elderly or vulnerable adult is a beneficiary, or on an account of a person suspected of perpetrating financial exploitation when a financial institution has reasonable cause to suspect that financial exploitation may have occurred, may have been attempted, or is being attempted

This bill would also allow a financial institution to offer to an elderly or vulnerable adult the opportunity to submit and periodically update a list of persons that may be contacted when the financial institution has reasonable cause to suspect that financial exploitation may have occurred, may have been attempted, or is being attempted

Relating to the protection of elderly and vulnerable adults; to allow a financial institution to refuse or delay a financial transaction when the financial institution has reasonable cause to suspect that financial exploitation may have occurred, may have been attempted, or is being attempted; to allow a financial institution to offer to an elderly or vulnerable adult the opportunity to submit and periodically update a list of persons that may be contacted when the financial institution has reasonable cause to suspect that financial exploitation may have occurred or been attempted; and to provide immunity to a financial institution or an officer or employee of a financial institution for certain actions taken.

Subjects

Financial Institutions

Bill Actions

Action Date	Chamber	Action
February 25, 2021	H	Blackshear motion to Indefinitely Postpone adopted Voice Vote
February 25, 2021	H	Motion to SB181 Substitute for HB147 adopted Voice Vote
February 25, 2021	H	Third Reading Indefinitely Postponed
February 23, 2021	H	Read for the second time and placed on the calendar
February 2, 2021	H	Read for the first time and referred to the House of Representatives committee on Financial Services