NY S06221

Banking institutions may refuse to disburse funds from accounts of vulnerable adults, accounts where vulnerable adults are beneficiaries, or accounts of persons suspected of exploiting vulnerable adults if there is reasonable belief that financial exploitation has occurred or may occur.

"Vulnerable adult" is defined as an individual unable to manage their own resources or protect themselves from financial exploitation due to mental and/or physical impairment.

Banks that refuse disbursement must make reasonable efforts to notify all authorized account parties and report the incident to the social services official administering adult protective services.

The refusal to disburse terminates when the bank is satisfied disbursement will not result in exploitation or when a court orders the funds be released.

Banks and their employees are granted immunity from criminal, civil, or administrative liability for refusing or disbursing funds under these provisions when acting in good faith, including for reporting to authorities or providing relevant records.