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WES MOORE, Governor Ch. 511
Chapter 511
(Senate Bill 753)
AN ACT concerning
Fiduciary Institutions – Exploitation of Seniors and Vulnerable Adults –
Protections and Required Referral
(Vulnerable Adult Banking Protection Act)
FOR the purpose of authorizing a fiduciary institution, under certain circumstances, to
delay or deny a disbursement from the account of a certain individual or the account
on which a certain individual is a beneficiary; requiring a fiduciary institution, under
certain circumstances, to provide certain financial records to certain entities;
authorizing a fiduciary institution, under certain circumstances, to contact certain
individuals; providing certain fiduciary institutions immunity from certain liability;
and generally relating to disbursement delays, disbursement denials, and
disclosures of confidential financial records by fiduciary institutions.
BY repealing and reenacting, without amendments,
Article – Family Law
Section 14–101(q)
Annotated Code of Maryland
(2019 Replacement Volume and 2025 Supplement)
BY repealing and reenacting, without amendments,
Article – Financial Institutions
Section 1–301(a) and (b)
Annotated Code of Maryland
(2020 Replacement Volume and 2025 Supplement)
BY adding to
Article – Financial Institutions
Section 1–307
Annotated Code of Maryland
(2020 Replacement Volume and 2025 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That the Laws of Maryland read as follows:
Article – Family Law
14–101.
(q) “Vulnerable adult” means an adult who lacks the physical or mental capacity
to provide for the adult’s daily needs.
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Ch. 511 2026 LAWS OF MARYLAND
Article – Financial Institutions
1–301.
(a) In this subtitle the following words have the meanings indicated.
(b) (1) “Fiduciary institution” means:
(i) A national banking association;
(ii) A State banking institution;
(iii) An other–state bank that maintains a branch in this State;
(iv) A credit union that is organized under the laws of this State or
of the United States;
(v) Any other organization that is organized under the banking laws
of this State and subject to the supervision of the Commissioner; or
(vi) A savings and loan association that is organized under the laws
of this State or of the United States.
(2) “Fiduciary institution” does not include any person licensed by the
Commissioner under Title 11 of this article.
1–307.
(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
(2) “ELIGIBLE ADULT” MEANS AN INDIVIDUAL WHO RESIDES IN THE
STATE AND IS:
(I) AT LEAST 65 YEARS OLD; OR
(II) A VULNERABLE ADULT.
(3) “FINANCIAL EXPLOITATION” MEANS:
(I) THE WRONGFUL OR UNAUTHORIZED TAKING,
WITHHOLDING, APPROPRIATION, OR USE OF MONEY, ASSETS, OR PROPERTY OF AN
ELIGIBLE ADULT; OR
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WES MOORE, Governor Ch. 511
(II) AN ACT OR OMISSION BY A PERSON, INCLUDING THROUGH
THE USE OF A POWER OF ATTORNEY, GUARDIANSHIP, OR CONSERVATORSHIP OF AN
ELIGIBLE ADULT, TO:
1. OBTAIN CONTROL, THROUGH DECEPTION,
INTIMIDATION, OR UNDUE INFLUENCE, OVER THE ELIGIBLE ADULT’S MONEY,
ASSETS, OR PROPERTY IN ORDER TO DEPRIVE THE ELIGIBLE ADULT OF THE
OWNERSHIP, USE, BENEFIT, OR POSSESSION OF THE MONEY, ASSETS, OR PROPERTY;
OR
2. CONVERT MONEY, ASSETS, OR PROPERTY OF THE
ELIGIBLE ADULT IN ORDER TO DEPRIVE THE ELIGIBLE ADULT OF THE OWNERSHIP,
USE, BENEFIT, OR POSSESSION OF THE MONEY, ASSETS, OR PROPERTY.
(4) “LAW ENFORCEMENT AGENCY” MEANS A STATE, COUNTY, OR
MUNICIPAL POLICE DEPARTMENT, BUREAU, OR AGENCY.
(5) “TRUSTED CONTACT” MEANS AN INDIVIDUAL WHO IS:
(I) A MEMBER OF AN ELIGIBLE ADULT’S FAMILY, INCLUDING A
PARENT OR GUARDIAN, A SIBLING, A SPOUSE, OR AN ADULT CHILD OF AN ELIGIBLE
ADULT, WHO A FIDUCIARY INSTITUTION REASONABLY BELIEVES IS CLOSELY
ASSOCIATED WITH THE ELIGIBLE ADULT;
(II) AUTHORIZED TO TRANSACT BUSINESS ON AN ACCOUNT OF
AN ELIGIBLE ADULT OR AN ACCOUNT ON WHICH AN ELIGIBLE ADULT IS A
BENEFICIARY, INCLUDING THROUGH THE USE OF A POWER OF ATTORNEY,
GUARDIANSHIP, OR CONSERVATORSHIP OF AN ELIGIBLE ADULT;
(III) LEGALLY RESPONSIBLE FOR MANAGING THE PROPERTY OR
FINANCIAL AFFAIRS OF AN ELIGIBLE ADULT; OR
(IV) DESIGNATED BY AN ELIGIBLE ADULT AS AN INDIVIDUAL
THAT A FIDUCIARY INSTITUTION MAY CONTACT ABOUT THE ELIGIBLE ADULT.
(6) “VULNERABLE ADULT” HAS THE MEANING STATED IN § 14–101 OF
THE FAMILY LAW ARTICLE.
(B) (1) A FIDUCIARY INSTITUTION MAY DELAY OR DENY A
DISBURSEMENT FROM AN ACCOUNT OF AN ELIGIBLE ADULT OR AN ACCOUNT ON
WHICH AN ELIGIBLE ADULT IS A BENEFICIARY IF:
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Ch. 511 2026 LAWS OF MARYLAND
(I) THE FIDUCIARY INSTITUTION REASONABLY BELIEVES THAT
THE REQUESTED DISBURSEMENT MAY RESULT IN THE FINANCIAL EXPLOITATION OF
THE ELIGIBLE ADULT; AND
(II) WITHIN 4 BUSINESS DAYS AFTER THE DATE ON WHICH THE
DISBURSEMENT IS REQUESTED, THE FIDUCIARY INSTITUTION:
1. SENDS WRITTEN NOTICE OF THE REASON FOR THE
DELAY OR THE DENIAL TO ALL PARTIES AUTHORIZED TO TRANSACT BUSINESS ON
THE ACCOUNT; AND
2. NOTIFIES THE ADULT PROTECTIVE SERVICES
PROGRAM IN A LOCAL DEPARTMENT OF SOCIAL SERVICES, A LAW ENFORCEMENT
AGENCY, OR A STATE’S ATTORNEY.
(2) A FIDUCIARY INSTITUTION:
(I) MAY NOT SEND THE WRITTEN NOTICE REQUIRED UNDER
PARAGRAPH (1) OF THIS SUBSECTION TO A PARTY THE FIDUCIARY INSTITUTION
REASONABLY BELIEVES OR SUSPECTS IS ENGAGING IN OR IS ATTEMPTING TO
ENGAGE IN THE FINANCIAL EXPLOITATION OF THE ELIGIBLE ADULT; AND
(II) ON REQUEST, SHALL PROVIDE A STATUS UPDATE ON ANY
DISBURSEMENT DELAY OR DENIAL TO THE ADULT PROTECTIVE SERVICES PROGRAM
IN A LOCAL DEPARTMENT OF SOCIAL SERVICES, A LAW ENFORCEMENT AGENCY, OR
A STATE’S ATTORNEY.
(C) (1) A DELAY OF A DISBURSEMENT AUTHORIZED UNDER THIS SECTION
SHALL EXPIRE:
(I) ON A DETERMINATION BY THE FIDUCIARY INSTITUTION
THAT THE DISBURSEMENT WILL NOT RESULT IN THE FINANCIAL EXPLOITATION OF
THE ELIGIBLE ADULT; OR
(II) SUBJECT TO PARAGRAPHS (2) AND (3) OF THIS
SUBSECTION, 15 BUSINESS DAYS AFTER THE DATE ON WHICH THE FIDUCIARY
INSTITUTION RECEIVES THE DISBURSEMENT REQUEST.
(2) (I) SUBJECT TO SUBPARAGRAPH (II) OF THIS PARAGRAPH, THE
ADULT PROTECTIVE SERVICES PROGRAM IN A LOCAL DEPARTMENT OF SOCIAL
SERVICES, A LAW ENFORCEMENT AGENCY, OR A STATE’S ATTORNEY MAY REQUEST
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WES MOORE, Governor Ch. 511
THE DELAY OF A DISBURSEMENT FOR UP TO 25 BUSINESS DAYS AFTER THE DATE ON
WHICH THE FIDUCIARY INSTITUTION RECEIVES THE DISBURSEMENT REQUEST.
(II) THE ADULT PROTECTIVE SERVICES PROGRAM IN THE
LOCAL DEPARTMENT OF SOCIAL SERVICES, THE LAW ENFORCEMENT AGENCY, THE
STATE’S ATTORNEY, OR A COURT OF COMPETENT JURISDICTION MAY ISSUE AN
ORDER THAT TERMINATES OR EXTENDS THE DELAY.
(3) IF THE FIDUCIARY INSTITUTION HAS NOT RECEIVED A REQUEST
UNDER PARAGRAPH (2) OF THIS SUBSECTION, THE FIDUCIARY INSTITUTION MAY
EXTEND THE DELAY OF A DISBURSEMENT FOR UP TO 25 BUSINESS DAYS AFTER THE
DATE ON WHICH THE FIDUCIARY INSTITUTION RECEIVES THE DISBURSEMENT
REQUEST.
(D) (1) A FIDUCIARY INSTITUTION SHALL PROVIDE ACCESS TO OR COPIES
OF FINANCIAL RECORDS THAT ARE RELEVANT TO THE SUSPECTED FINANCIAL
EXPLOITATION OF AN ELIGIBLE ADULT:
(I) AS PART OF A REFERRAL TO THE ADULT PROTECTIVE
SERVICES PROGRAM IN A LOCAL DEPARTMENT OF SOCIAL SERVICES, A LAW
ENFORCEMENT AGENCY, OR A STATE’S ATTORNEY UNDER SUBSECTION (B) OF THIS
SECTION; OR
(II) ON REQUEST OF THE ADULT PROTECTIVE SERVICES
PROGRAM IN A LOCAL DEPARTMENT OF SOCIAL SERVICES, A LAW ENFORCEMENT
AGENCY, OR A STATE’S ATTORNEY.
(2) THE FINANCIAL RECORDS UNDER PARAGRAPH (1) OF THIS
SUBSECTION MAY INCLUDE HISTORICAL RECORDS AND RECORDS THAT RELATE TO
THE MOST RECENT TRANSACTIONS THAT MAY DEMONSTRATE THE FINANCIAL
EXPLOITATION OF AN ELIGIBLE ADULT.
(3) A FINANCIAL RECORD MADE AVAILABLE UNDER THIS
SUBSECTION IS NOT A PUBLIC RECORD UNDER TITLE 4 OF THE GENERAL
PROVISIONS ARTICLE.
(E) (1) IN ADDITION TO THE NOTICE REQUIRED UNDER SUBSECTION
(B)(1) OF THIS SECTION, A FIDUCIARY INSTITUTION THAT REASONABLY BELIEVES
THAT A REQUESTED DISBURSEMENT FROM AN ACCOUNT OF AN ELIGIBLE ADULT
MAY RESULT IN THE FINANCIAL EXPLOITATION OF THE ELIGIBLE ADULT MAY
NOTIFY THE ELIGIBLE ADULT’S TRUSTED CONTACT, UNLESS THE FIDUCIARY
INSTITUTION REASONABLY BELIEVES OR SUSPECTS THE TRUSTED CONTACT IS
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Ch. 511 2026 LAWS OF MARYLAND
ENGAGING IN OR IS ATTEMPTING TO ENGAGE IN THE FINANCIAL EXPLOITATION OF
THE ELIGIBLE ADULT.
(2) A FIDUCIARY INSTITUTION MAY LIMIT NOTICE PROVIDED UNDER
PARAGRAPH (1) OF THIS SUBSECTION TO DISCLOSING THE FIDUCIARY
INSTITUTION’S REASONABLE BELIEF THAT THE ELIGIBLE ADULT MAY BE A VICTIM
OR TARGET OF FINANCIAL EXPLOITATION.
(F) A FIDUCIARY INSTITUTION ACTING IN GOOD FAITH AND EXERCISING
REASONABLE CARE SHALL HAVE IMMUNITY FROM ANY ADMINISTRATIVE OR CIVIL
LIABILITY THAT MIGHT OTHERWISE ARISE FROM:
(1) THE PROVISION OF A NOTICE UNDER SUBSECTION (B) OR (E) OF
THIS SECTION; AND
(2) A DELAY OR DENIAL OF A DISBURSEMENT UNDER SUBSECTION (B)
OF THIS SECTION.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2026.
Approved by the Governor, May 12, 2026.
–6–Every fact on this page links to its source, starting with the official bill record.