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House Bill 3921 |
House Author: Parker et al. |
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Effective: 9-1-17 |
Senate Sponsor: Hancock et al. |
House Bill 3921 amends the Finance Code and The Securities Act, Vernon's Texas Civil Statutes, to impose certain reporting requirements on financial institution employees and on securities professionals or persons serving in a legal capacity for a dealer or investment adviser who have cause to believe that financial exploitation of a vulnerable adult who is an account holder has occurred, is occurring, or has been attempted. The bill provides for temporary holds on transactions in certain cases of suspected financial exploitation of such vulnerable adults.