Bill Status of SB 2879   99th General Assembly

Short Description:  AGING-FINANCIAL EXPLOITATION

Senate Sponsors
Sen. Michael Connelly

Last Action  View All Actions

DateChamber Action
  1/10/2017SenateSession Sine Die

Statutes Amended In Order of Appearance
320 ILCS 20/4.3 new

Synopsis As Introduced
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.

Senate Committee Amendment No. 1
Defines "financial institution". Requires a financial institution that refuses to disburse funds to report the incident to the Adult Protective Services Program or local law enforcement (instead of to the Adult Protective Services Program and local law enforcement).

Actions 
DateChamber Action
  2/17/2016SenateFiled with Secretary by Sen. Michael Connelly
  2/17/2016SenateFirst Reading
  2/17/2016SenateReferred to Assignments
  3/2/2016SenateAssigned to Financial Institutions
  3/9/2016SenatePostponed - Financial Institutions
  4/1/2016SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Michael Connelly
  4/1/2016SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/5/2016SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  4/6/2016SenateSenate Committee Amendment No. 1 Adopted
  4/6/2016SenateDo Pass as Amended Financial Institutions; 007-000-000
  4/6/2016SenatePlaced on Calendar Order of 2nd Reading April 7, 2016
  4/22/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 13, 2016
  5/27/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2016
  7/31/2016SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  1/10/2017SenateSession Sine Die

Back To Top