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SB1490

Aged or incapacitated adults; financial exploitation, authority to refuse transactions.

Status:
Enacted

Chief Patron:
Mark Obenshain (R)

Session:
2019 Regular Session

Summary

As Passed Both Chambers. Financial exploitation of aged or incapacitated adults; authority to refuse transactions or disbursements.

Authorizes financial institution staff to refuse to execute a transaction, to delay a transaction, or to refuse to disburse funds, regardless of whether such staff has reported suspected financial exploitation, if the financial institution staff (i) believes in good faith that the transaction or disbursement may involve, facilitate, result in, or contribute to the financial exploitation of an aged or incapacitated adult or (ii) makes, or has actual knowledge that another person has made, a report to the local department of social services or adult protective services hotline stating a good faith belief that the transaction or disbursement may involve, facilitate, result in, or contribute to the financial exploitation of an aged or incapacitated adult. The measure authorizes financial institution staff to continue to refuse to execute a transaction, delay a transaction, or refuse to disburse funds for not more than 30 business days after the date such transaction or disbursement was initially requested on the basis of such a good faith belief, unless otherwise ordered by a court. The measure authorizes such staff, to the extent permitted by law, to report any information or records relevant to an investigation. A financial institution and its staff are immune from civil or criminal liability, absent gross negligence or willful misconduct, for refusing to execute a transaction, delaying a transaction, or refusing to disburse funds pursuant to this measure. This bill incorporates SB 1175 and is identical to HB 1987. (Less)

  • Bill History

  • 01/08/2019 - Senate: Prefiled and ordered printed; offered 01/09/19 19104181D
  • 01/08/2019 - Senate: Referred to Committee on Rehabilitation and Social Services
  • 01/11/2019 - Senate: Impact statement from DPB (SB1490)
  • 01/17/2019 - Senate: Assigned Rehab sub: Subcommittee #2
  • 01/25/2019 - Senate: Reported from Rehabilitation and Social Services with substitute (15-Y 0-N)
  • 01/25/2019 - Senate: Committee substitute printed 19105408D-S1
  • 01/28/2019 - Senate: Incorporates SB1175 (McPike)
  • 01/28/2019 - Senate: Impact statement from DPB (SB1490S1)
  • 01/28/2019 - Senate: Constitutional reading dispensed (37-Y 0-N)
  • 01/29/2019 - Senate: Read second time
  • 01/29/2019 - Senate: Reading of substitute waived
  • 01/29/2019 - Senate: Committee substitute agreed to 19105408D-S1
  • 01/29/2019 - Senate: Engrossed by Senate - committee substitute SB1490S1
  • 01/30/2019 - Senate: Read third time and passed Senate (40-Y 0-N)
  • 02/04/2019 - House: Placed on Calendar
  • 02/04/2019 - House: Read first time
  • 02/04/2019 - House: Referred to Committee on Commerce and Labor
  • 02/12/2019 - House: House committee, floor amendments and substitutes offered
  • 02/12/2019 - House: Reported from Commerce and Labor with substitute (22-Y 0-N)
  • 02/12/2019 - House: Committee substitute printed 19106594D-H1
  • 02/12/2019 - House: Read second time
  • 02/13/2019 - Senate: Impact statement from DPB (SB1490H1)
  • 02/13/2019 - House: Read third time
  • 02/13/2019 - House: Committee substitute agreed to 19106594D-H1
  • 02/13/2019 - House: Engrossed by House - committee substitute SB1490H1
  • 02/13/2019 - House: Passed House with substitute BLOCK VOTE (98-Y 0-N)
  • 02/13/2019 - House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
  • 02/15/2019 - Senate: House substitute rejected by Senate (0-Y 39-N)
  • 02/18/2019 - House: House insisted on substitute
  • 02/18/2019 - House: House requested conference committee
  • 02/19/2019 - Senate: Senate acceded to request (38-Y 0-N)
  • 02/19/2019 - Senate: Conferees appointed by Senate
  • 02/19/2019 - Senate: Senators: Obenshain, McDougle, Spruill
  • 02/20/2019 - House: Conferees appointed by House
  • 02/20/2019 - House: Delegates: Ware, Hugo, Filler-Corn
  • 02/22/2019 - Conference: Amended by conference committee
  • 02/22/2019 - Senate: Conference substitute printed 19107521D-S2
  • 02/22/2019 - House: Conference report agreed to by House (98-Y 0-N)
  • 02/22/2019 - House: VOTE: ADOPTION (98-Y 0-N)
  • 02/22/2019 - Senate: Conference report agreed to by Senate (40-Y 0-N)
  • 02/26/2019 - Senate: Impact statement from DPB (SB1490S2)
  • 03/07/2019 - Senate: Enrolled
  • 03/07/2019 - Senate: Bill text as passed Senate and House (SB1490ER)
  • 03/07/2019 - Senate: Impact statement from DPB (SB1490ER)
  • 03/07/2019 - House: Signed by Speaker
  • 03/09/2019 - Senate: Signed by President
  • 03/11/2019 - Senate: Enrolled Bill Communicated to Governor on March 11, 2019
  • 03/11/2019 - Governor: Governor's Action Deadline Midnight, March 26, 2019
  • 03/18/2019 - Governor: Approved by Governor-Chapter 421 (effective 7/1/19)
  • 03/18/2019 - Governor: Acts of Assembly Chapter text (CHAP0421)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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