Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 2067 By: Alvord
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6 AS INTRODUCED
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7 An Act relating to vulnerable adults; creating the
7 Protection of Vulnerable Adults from Financial
8 Exploitation Act; providing short title; defining
8 terms; requiring employees of financial institutions
9 to report financial exploitation; mandating reports
9 by financial institutions to the Department of Human
10 Services; specifying reporting deadlines; providing
10 certain exception; requiring financial institutions
11 to adopt certain policies and procedures; authorizing
11 certain additional reports; requiring cooperation
12 with certain investigations; authorizing and
12 requiring certain transaction holds; providing for
13 expiration and extension of holds; granting certain
13 civil and criminal immunities; authorizing certain
14 access to specified records; limiting disclosures;
14 providing for codification; and providing an
15 effective date.
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18 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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19 SECTION 1. NEW LAW A new section of law to be codified
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20 in the Oklahoma Statutes as Section 14-111 of Title 43A, unless
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21 there is created a duplication in numbering, reads as follows:
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22 This act shall be known and may be cited as the "Protection of
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23 Vulnerable Adults from Financial Exploitation Act".
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1 SECTION 2. NEW LAW A new section of law to be codified
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2 in the Oklahoma Statutes as Section 14-112 of Title 43A, unless
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3 there is created a duplication in numbering, reads as follows:
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4 As used in this act:
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5 1. "Department" means the Department of Human Services;
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6 2. "Financial exploitation" means:
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7 a. the wrongful or unauthorized taking, withholding,
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8 appropriation, or use of the money, assets, or other
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9 property or the identifying information of a person,
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10 or
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11 b. an act or omission by a person, including through the
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12 use of a power of attorney on behalf of, or as the
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13 conservator or guardian of, another person, to:
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14 (1) obtain control, through deception, intimidation,
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15 fraud, or undue influence, over the other
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16 person's money, assets, or other property to
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17 deprive the other person of the ownership, use,
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18 benefit, or possession of the property, or
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19 (2) convert the money, assets, or other property of
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20 the other person to deprive the other person of
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21 the ownership, use, benefit, or possession of the
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22 property;
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23 3. "Financial institution" has the same meaning as provided in
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24 Section 2202 of Title 6 of the Oklahoma Statutes; and
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1 4. "Vulnerable adult" has the same meaning as provided in
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2 Section 10-103 of Title 43A of the Oklahoma Statutes.
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3 SECTION 3. NEW LAW A new section of law to be codified
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4 in the Oklahoma Statutes as Section 14-113 of Title 43A, unless
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5 there is created a duplication in numbering, reads as follows:
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6 A. If an employee of a financial institution has cause to
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7 believe that financial exploitation of a vulnerable adult who is an
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8 account holder with the financial institution has occurred, is
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9 occurring, or has been attempted, the employee shall notify the
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10 financial institution of the suspected financial exploitation.
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11 B. If a financial institution is notified of suspected
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12 financial exploitation under subsection A of this section or
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13 otherwise has cause to believe that financial exploitation of a
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14 vulnerable adult who is an account holder with the financial
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15 institution has occurred, is occurring, or has been attempted, the
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16 financial institution shall assess the suspected financial
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17 exploitation and submit a report to the Department of Human Services
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18 in the same manner as and containing the same information required
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19 to be included in a report under Section 10-104 of Title 43A of the
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20 Oklahoma Statutes. The financial institution shall submit the
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21 report required by this subsection not later than the earlier of:
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22 1. The date the financial institution completes the financial
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23 institution's assessment of the suspected financial exploitation; or
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1 2. The fifth business day after the date the financial
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2 institution is notified of the suspected financial exploitation
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3 under subsection A of this section or otherwise has cause to believe
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4 that the suspected financial exploitation has occurred, is
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5 occurring, or has been attempted.
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6 C. A financial institution that submits a report to the
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7 Department of suspected financial exploitation of a vulnerable adult
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8 under subsection B of this section shall not be required to make an
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9 additional report of suspected abuse, neglect, or exploitation under
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10 Section 10-104 of Title 43A of the Oklahoma Statutes, for the same
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11 conduct constituting the reported suspected financial exploitation.
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12 D. Each financial institution shall adopt internal policies,
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13 programs, plans, or procedures for:
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14 1. The employees of the financial institution to make the
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15 notification required under subsection A of this section; and
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16 2. The financial institution to conduct the assessment and
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17 submit the report required under subsection B of this section.
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18 E. The financial institution may report the suspected financial
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19 exploitation to appropriate agencies and entities other than the
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20 Department including, but not limited to, the Attorney General, the
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21 Federal Trade Commission, and the appropriate law enforcement
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22 agency.
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23 F. If a financial institution submits a report of suspected
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24 financial exploitation of a vulnerable adult to the Department under
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1 subsection B of this section, the financial institution may at the
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2 time the financial institution submits the report also notify a
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3 third party reasonably associated with the vulnerable adult of the
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4 suspected financial exploitation, unless the financial institution
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5 suspects the third party of financial exploitation of the vulnerable
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6 adult.
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7 G. To the extent permitted by state or federal law, a financial
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8 institution shall provide, on request, access to or copies of
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9 records relevant to the suspected financial exploitation of a
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10 vulnerable adult to the Department, a law enforcement agency, or a
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11 prosecuting attorney's office, either as part of a report to the
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12 Department, law enforcement agency, or prosecuting attorney's office
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13 or at the request of the Department, law enforcement agency, or
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14 prosecuting attorney's office in accordance with an investigation.
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15 SECTION 4. NEW LAW A new section of law to be codified
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16 in the Oklahoma Statutes as Section 14-114 of Title 43A, unless
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17 there is created a duplication in numbering, reads as follows:
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18 A. Notwithstanding any other law, a financial institution:
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19 1. May place a hold on any transaction that involves an account
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20 of a vulnerable adult if the financial institution:
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21 a. submits a report of suspected financial exploitation
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22 of the vulnerable adult to the Department of Human
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23 Services under Section 3 of this act, and
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1 b. has cause to believe the transaction is related to the
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2 suspected financial exploitation alleged in the
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3 report; and
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4 2. Shall place a hold on any transaction involving an account
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5 of a vulnerable adult if the hold is requested by the Department or
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6 a law enforcement agency.
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7 B. Subject to subsection C of this section, a hold placed on
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8 any transaction under subsection A of this section expires on the
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9 tenth business day after the date the hold is placed.
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10 C. The financial institution may extend a hold placed on any
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11 transaction under subsection A of this section for a period not to
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12 exceed thirty (30) business days after the expiration of the period
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13 prescribed by subsection B of this section if requested by a state
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14 or federal agency or a law enforcement agency investigating the
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15 suspected financial exploitation. The financial institution may
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16 also petition a court to extend a hold placed on any transaction
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17 under subsection A of this section beyond the period prescribed by
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18 subsection B of this section. A court of competent jurisdiction may
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19 enter an order extending or shortening a hold or providing other
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20 relief.
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21 D. Each financial institution shall adopt internal policies,
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22 programs, plans, or procedures for placing a hold on a transaction
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23 involving an account of a vulnerable adult under this section.
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1 SECTION 5. NEW LAW A new section of law to be codified
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2 in the Oklahoma Statutes as Section 14-115 of Title 43A, unless
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3 there is created a duplication in numbering, reads as follows:
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4 A. An employee of a financial institution who makes a
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5 notification under subsection A of Section 3 of this act, a
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6 financial institution that submits a report under subsection B of
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7 Section 3 of this act or makes a notification to a third party under
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8 subsection F of Section 3 of this act, or an employee or financial
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9 institution that testifies or otherwise participates in a judicial
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10 proceeding arising from a notification or report is immune from any
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11 civil or criminal liability arising from the notification, report,
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12 testimony, or participation in the judicial proceeding, unless the
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13 employee or financial institution acted in bad faith or with a
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14 malicious purpose.
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15 B. A financial institution that in good faith and with the
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16 exercise of reasonable care places or does not place a hold on any
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17 transaction under paragraph 1 of subsection A of Section 4 of this
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18 act is immune from any civil or criminal liability or disciplinary
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19 action resulting from that action or failure to act.
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20 SECTION 6. NEW LAW A new section of law to be codified
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21 in the Oklahoma Statutes as Section 14-116 of Title 43A, unless
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22 there is created a duplication in numbering, reads as follows:
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23 A. Notwithstanding any provision of the Financial Privacy Act,
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24 a financial institution may, in good faith and without the need for
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1 a subpoena or court order, provide access to or copies of records
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2 relevant to the suspected financial exploitation of a vulnerable
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3 adult to the Department of Human Services, a law enforcement agency,
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4 or a district attorney's office.
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5 B. The disclosure shall be limited to information necessary to
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6 support a report made under this act or to further an investigation
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7 of suspected financial exploitation.
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8 C. Any financial institution, and its employees, that acts in
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9 good faith under this section shall be immune from civil or criminal
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10 liability or disciplinary action related to the disclosure of such
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11 records.
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12 SECTION 7. This act shall become effective November 1, 2026.
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14 60-2-2641 DC 1/15/2026 11:46:54 AM
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Req. No. 2641 Page 8Every fact on this page links to its source, starting with the official bill record.