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Relating to the financial exploitation of certain vulnerable adults.
No fiscal implication to the State is anticipated.
HB 4477 would modify the definition of vulnerable adult and modify the expiration date of a hold placed on the account of vulnerable adult from 10 days after a report of financial exploitation of a vulnerable adult is submitted to Adult Protective Services, to 10 days after the hold is placed on the account. The bill would also revise procedures for various types of financial institutions to place a hold on a transaction related to the account of a vulnerable adult.
As HB 4477 does not pertain to the liberty principles, Texas Action is neutral on this bill.
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