An Act protecting vulnerable adults from financial exploitation
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to protect vulnerable adults, particularly those with disabilities, from financial exploitation. It seeks to establish clearer guidelines and safeguards to prevent individuals with limited capacity from being taken advantage of financially. The legislation intends to strengthen existing protections and improve the state’s response to instances of financial abuse. It also includes a study order to examine related issues.
Key provisions
- Establishes definitions related to financial exploitation and vulnerable adults.
- Requires financial institutions and professionals to report suspected instances of exploitation.
- Creates a process for seeking court intervention to protect vulnerable adults’ assets.
- Mandates training for professionals who interact with vulnerable adults regarding financial exploitation.
- Includes a study order to examine the effectiveness of current protections and identify best practices.
- Addresses the reporting requirements for financial exploitation cases.
Who is affected
- Vulnerable adults with disabilities
- Financial institutions
- Legal professionals
- Social service providers
- Adult Protective Services
Notable changes
- The bill includes a study order to assess the current protections and identify areas for improvement.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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