IL SB2879

Financial institutions may refuse to disburse funds from accounts of eligible adults, beneficiary accounts, or suspected perpetrators' accounts if the institution reasonably believes financial exploitation may have occurred, been attempted, or is being attempted pending investigation.

Financial institutions that refuse to disburse funds must make reasonable efforts to notify all authorized parties and report the incident to the Adult Protective Services Program and local law enforcement.

Any refusal to disburse funds expires within 10 business days for security transactions or 5 business days for non-security transactions, unless a court of competent jurisdiction extends the hold or the institution becomes satisfied the disbursement will not result in exploitation.

A court may enter an order extending the refusal to disburse funds and may order other protective relief based on reasonable belief of financial exploitation.

Financial institutions and their employees are immune from criminal, civil, and administrative liability for refusing or disbursing funds when the decision is made in good faith.