Maryland SB753 protects vulnerable adults from financial exploitation by allowing fiduciary institutions to delay or deny disbursements and provide.

Maryland SB753, known as the Vulnerable Adult Banking Protection Act, allows fiduciary institutions to delay or deny disbursements from accounts of vulnerable adults if they reasonably believe the disbursement may result in financial exploitation. The institution must notify relevant parties and provide financial records to the Adult Protective Services Program, law enforcement, or a state's attorney. The institution may extend the delay if no request is received within a specified period. The bill also grants immunity to institutions acting in good faith and exercising reasonable care.

Maryland SB753 protects vulnerable adults from financial exploitation by allowing fiduciary institutions to delay or deny disbursements and provide.

Maryland SB753, known as the Vulnerable Adult Banking Protection Act, allows fiduciary institutions to delay or deny disbursements from accounts of vulnerable adults if they reasonably believe the disbursement may result in financial exploitation. The institution must notify relevant parties and provide financial records to the Adult Protective Services Program, law enforcement, or a state's attorney. The institution may extend the delay if no request is received within a specified period. The bill also grants immunity to institutions acting in good faith and exercising reasonable care.