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SC H5162
Bill
Status
Engrossed
2/25/2026
Primary Sponsor
William Herbkersman
Click for details
AI Summary
- Defines "eligible adults" as persons 55 years of age or older, or vulnerable adults under existing state law
- Authorizes financial institutions to decline or place holds on transactions when they reasonably believe financial exploitation of an eligible adult has occurred or may occur
- Holds expire after 30 business days unless extended by an investigative entity or court order, or when the institution determines no exploitation will result
- Allows financial institutions to offer eligible adults the option to maintain an emergency contact list of individuals to be notified if exploitation is suspected
- Grants immunity from criminal, civil, and administrative liability to financial institutions and employees who act in good faith under these provisions
Legislative Description
Protecting Eligible Adults from Financial Exploitation
Last Action
Referred to Committee on Banking and Insurance
2/25/2026
Committee Referrals
Banking and Insurance2/25/2026
Labor, Commerce and Industry2/11/2026
Full Bill Text
No bill text available