s_fin_2017a_2017-04-13t11:21:04z3 Hearing Summary

Date: 04/13/2017

Location: SCR 357

12:59 PM -- HB17-1253



Senator Crowder, prime sponsor, presented House Bill 17-1253, which requires certain financial professionals to report to the securities commissioner if they believe an at-risk person is being financially exploited, except that for mandatory reporters, making such a report does not satisfy the current law requirement to report directly to local law enforcement. The commissioner must forward any reports to local law enforcement and the county department of human or social services. The commissioner may access records for purposes of investigations, but may not release them under an open records request. Financial professionals may notify any third party previously designated by or reasonably associated with the covered adult when he or she believes financial exploitation has occurred, except when that designated party is suspected of financial exploitation or other abuse of the covered adult. The bill provides for delayed disbursements of moneys and other protective services under specified circumstances and immunity from administrative or civil liability when a financial professional makes a disclosure when acting in good faith and exercising reasonable care to protect the information.



01:01 PM -- Jerry Rome, representing the Department of Regulatory Agencies (DORA), testified in support of the bill. Committee members received a handout from DORA (Attachment D).



17SenateFin0413AttachD.pdf



01:05 PM -- Dennis Valentine, representing AARP, testified in support of the bill.



01:08 PM -- Mindy Kemp, representing the Department of Human Services, testified in support of the bill.



01:11 PM -- John Bunting, representing himself as a volunteer for the First Judicial District Elder Abuse Unit, testified in support of the bill. Mr. Bunting distributed a copy of his testimony to the committee (Attachment E).



17SenateFin0413AttachE.pdf



01:13 PM -- Kris Tower, representing himself, testified in support of the bill.



01:16 PM -- Ed Shackelford, representing the Senior Lobby, testified in support of the bill. Mr. Tower responded to committee questions.



01:23 PM -- Sean Clifford, representing the Attorney General's office, testified in support of the bill.





01:27 PM



Senator Crowder wrapped up his presentation of HB 17-1253.

BILL:	HB17-1253
TIME:	01:31:37 PM
MOVED:	Hill
MOTION:	Adopt amendment L.004 (Attachment F). The motion passed without objection. 17SenateFin0413AttachF.pdf
SECONDED:
		VOTE
	Court
	Kagan
	Tate
	Hill
	Neville T.
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection