NY S01093

Banking institutions may refuse to disburse funds from accounts of vulnerable adults, accounts where vulnerable adults are beneficiaries, or accounts of suspected financial exploiters 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 effort to notify authorized account users and report the incident to the responsible social services official for adult protective services.

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

Banking institutions and their employees are granted immunity from criminal, civil, or administrative liability for refusing or disbursing funds, making reports, or sharing records with law enforcement and social services in good faith under this law.