MS SB2559

Amends Mississippi law to allow the Secretary of State access to confidential reports of suspected financial exploitation of vulnerable persons, adding the Secretary of State to the list of officials who can receive such reports from the Department of Human Services

Permits banks and financial institutions to disclose depositor information to the Secretary of State when investigating suspected financial exploitation of a vulnerable person, without violating depositor confidentiality laws

Mandates that various professionals (including attorneys, physicians, nurses, social workers, financial advisors, and bank employees) immediately report known or suspected abuse, neglect, or exploitation of vulnerable persons to the Department of Human Services

Imposes penalties of up to $5,000 fine and/or six months imprisonment for failing to report known or suspected exploitation of a vulnerable person

Effective date of July 1, 2022