Assembly Bill A5604

2013-2014 Legislative Session

Relates to reporting of financial exploitation; and establishes a financial exploitation, outreach, education and training program and fund

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-A5604 (ACTIVE) - Details

See Senate Version of this Bill:
S2162
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Add §9-v, Bank L; amd §202, add §219-a, Eld L; add §99-u, St Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3886
2011-2012: A4541, S6756
2015-2016: A2481, S6243
2017-2018: S2442

2013-A5604 (ACTIVE) - Summary

Relates to reporting of financial exploitation; establishes a financial exploitation, outreach, education and training program and fund.

2013-A5604 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5604

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              March 4, 2013
                               ___________

Introduced  by  M. of A. ENGLEBRIGHT, JACOBS, BENEDETTO, MAISEL, RIVERA,
  LUPARDO, TITUS, MILLMAN, CYMBROWITZ, PEOPLES-STOKES, DINOWITZ,  ROBIN-
  SON, MARKEY, CLARK, GABRYSZAK, HOOPER, ROSENTHAL -- Multi-Sponsored by
  --  M.  of  A.  ABBATE,  BROOK-KRASNY,  FARRELL,  GOTTFRIED, V. LOPEZ,
  MAGNARELLI,  ORTIZ,  PERRY,  SWEENEY,  WEISENBERG  --  read  once  and
  referred to the Committee on Banks

AN ACT to amend the banking law and the elder law, in relation to finan-
  cial  exploitation; and to amend the state finance law, in relation to
  establishing  the  financial  exploitation,  outreach,  education  and
  training fund

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The banking law is amended by adding a new section  9-v  to
read as follows:
  S  9-V.  REPORTING  OF SUSPECTED FINANCIAL EXPLOITATION. 1. AS USED IN
THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  (A) "FINANCIAL INSTITUTION" SHALL MEAN ANY OF THE FOLLOWING:
  (1) A DEPOSITORY INSTITUTION, AS DEFINED IN SECTION 3(C) OF THE FEDER-
AL DEPOSIT INSURANCE ACT (12 U.S.C. SEC. 1813(C)).
  (2) AN INSTITUTION-AFFILIATED PARTY, AS DEFINED IN SECTION 3(U) OF THE
FEDERAL DEPOSIT INSURANCE ACT (12 U.S.C. SEC. 1813(U)).
  (3) A FEDERAL CREDIT UNION  OR  STATE  CREDIT  UNION,  AS  DEFINED  IN
SECTION  101  OF  THE  FEDERAL  CREDIT  UNION ACT (12 U.S.C. SEC. 1752),
INCLUDING, BUT NOT LIMITED TO,  AN  INSTITUTION-AFFILIATED  PARTY  OF  A
CREDIT  UNION,  AS DEFINED IN SECTION 206(R) OF THE FEDERAL CREDIT UNION
ACT (12 U.S.C.  SEC. 1786(R)).
  (B) "ELDERLY PERSON" SHALL MEAN A PERSON SIXTY YEARS OF AGE OR OLDER.
  (C) "FINANCIAL EXPLOITATION" SHALL MEAN IMPROPER  USE  OF  AN  ELDERLY
PERSON'S  FUNDS,  PROPERTY OR RESOURCES BY ANOTHER INDIVIDUAL, INCLUDING
BUT NOT LIMITED TO FRAUD, FALSE PRETENSES, MISREPRESENTATION,  EMBEZZLE-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04824-01-3

              

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