Bill Text: IL SB2879 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Adult Protective Services Act. Provides that pending an investigation by the financial institution, the Department on Aging, or law enforcement, if a financial institution reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, the financial institution may, but is not required to, refuse a transaction requiring the disbursement of funds contained in the account: (i) of the eligible adult; (ii) on which the eligible adult is a beneficiary, including a trust or guardianship account; or (iii) of a person suspected of perpetrating financial exploitation of an eligible adult. Requires a financial institution that refuses to disburse funds to report the incident to the Adult Protective Services Program, local law enforcement, and other specified persons. Provides that a financial institution's refusal to disburse funds shall expire within certain timeframes under certain conditions; and that a court of competent jurisdiction may enter an order extending the refusal by the financial institution to disburse funds. Exempts a financial institution and its employees from criminal, civil, and administrative liability for refusing to disburse funds or disbursing funds if the determination of whether or not to disburse funds was made in good faith.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-07-31 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB2879 Detail]

Download: Illinois-2015-SB2879-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 SB2879 Introduced 2/17/2016, by Sen. Michael Connelly SYNOPSIS AS INTRODUCED:
320 ILCS 20/4.3 new
Amends the Adult Protective Services Act. Provides that pending an investigation by the financial institution, the Department on Aging, or law enforcement, if a financial institution reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, the financial institution may, but is not required to, refuse a transaction requiring the disbursement of funds contained in the account: (i) of the eligible adult; (ii) on which the eligible adult is a beneficiary, including a trust or guardianship account; or (iii) of a person suspected of perpetrating financial exploitation of an eligible adult. Requires a financial institution that refuses to disburse funds to report the incident to the Adult Protective Services Program, local law enforcement, and other specified persons. Provides that a financial institution's refusal to disburse funds shall expire within certain timeframes under certain conditions; and that a court of competent jurisdiction may enter an order extending the refusal by the financial institution to disburse funds. Exempts a financial institution and its employees from criminal, civil, and administrative liability for refusing to disburse funds or disbursing funds if the determination of whether or not to disburse funds was made in good faith.
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A BILL FOR
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AN ACT concerning aging.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Adult Protective Services Act is amended by
adding Section 4.3 as follows:
(320 ILCS 20/4.3 new)
Sec. 4.3. Financial exploitation; disbursement of funds.
(a) Pending an investigation by the financial institution,
the Department, or law enforcement, if a financial institution
reasonably believes that financial exploitation of an eligible
adult may have occurred, may have been attempted, or is being
attempted, the financial institution may, but is not required
to, refuse a transaction requiring the disbursement of funds
contained in the account:
(1) of the eligible adult;
(2) on which the eligible adult is a beneficiary,
including a trust or guardianship account; or
(3) of a person suspected of perpetrating financial
exploitation of an eligible adult.
(b) A financial institution may also refuse to disburse
funds under this Section if the Department, law enforcement, or
the prosecuting attorney provides information to the financial
institution demonstrating that it is reasonable to believe that

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financial exploitation of an eligible adult may have occurred,
may have been attempted, or is being attempted.
(c) A financial institution is not required to refuse to
disburse funds when provided with information alleging that
financial exploitation may have occurred, may have been
attempted, or is being attempted, but may use its discretion to
determine whether or not to refuse to disburse funds based on
the information available to the financial institution.
(d) A financial institution that refuses to disburse funds
based on a reasonable belief that financial exploitation of an
eligible adult may have occurred, may have been attempted, or
is being attempted shall:
(1) make a reasonable effort to notify all parties
authorized to transact business on the account orally or in
writing; and
(2) report the incident to the Adult Protective
Services Program and local law enforcement.
(e) Any refusal to disburse funds as authorized by this
Section based on the reasonable belief of a financial
institution that financial exploitation of an eligible adult
may have occurred, may have been attempted, or is being
attempted shall expire upon the sooner of:
(1) 10 business days after the date on which the
financial institution first refused to disburse the funds
if the transaction involved the sale of a security or offer
to sell a security, as defined in Section 2.1 of the

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Illinois Securities Law of 1953, unless sooner terminated
by an order of a court of competent jurisdiction;
(2) 5 business days after the date on which the
financial institution first refused to disburse the funds
if the transaction did not involve the sale of a security
or offer to sell a security, unless sooner terminated by an
order of a court of competent jurisdiction; or
(3) the time when the financial institution is
satisfied that the disbursement will not result in
financial exploitation of the eligible adult.
(f) A court of competent jurisdiction may enter an order
extending the refusal by the financial institution to disburse
funds based on a reasonable belief that financial exploitation
of an eligible adult may have occurred, may have been
attempted, or is being attempted. A court of competent
jurisdiction may also order other protective relief.
(g) A financial institution or an employee of a financial
institution is immune from criminal, civil, and administrative
liability for refusing to disburse funds or disbursing funds
under this Section and for actions taken in furtherance of that
determination if the determination of whether or not to
disburse funds was made in good faith.