MS HB1201

Adds the Secretary of State to the list of agencies authorized to receive reports of suspected financial abuse of vulnerable persons under Mississippi Code Section 43-47-7.

Allows the Secretary of State to access confidential reports made to the Department of Human Services, but only in cases involving financial exploitation.

Authorizes banks and financial institutions to disclose depositor information to the Secretary of State when the Secretary has received a report of suspected financial exploitation of a vulnerable person, as permitted under Section 81-5-55.

Establishes a new disclosure exception in banking confidentiality laws to allow release of financial records to the Secretary of State for determining whether financial exploitation of a vulnerable person has occurred.

Takes effect July 1, 2023.