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EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW.
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amendment.
*hb1008*
HOUSE BILL 1008
I1, O2 6lr2874
CF SB 753
By: Delegates Queen and Spiegel
Introduced and read first time: February 6, 2026
Assigned to: Judiciary
Reassigned: Economic Matters, February 11, 2026
Committee Report: Favorable
House action: Adopted
Read second time: March 3, 2026
CHAPTER ______
AN ACT concerning 1
Fiduciary Institutions – Exploitation of Seniors and Vulnerable Adults – 2
Protections and Required Referral 3
(Vulnerable Adult Banking Protection Act) 4
FOR the purpose of authorizing a fiduciary institution, under certain circumstances, to 5
delay or deny a disbursement from the account of a certain individual or the account 6
on which a certain individual is a beneficiary; requiring a fiduciary institution, under 7
certain circumstances, to provide certain financial records to certain entities; 8
authorizing a fiduciary institution, under certain circumstances, to contact certain 9
individuals; providing certain fiduciary institutions immunity from certain liability; 10
and generally relating to disbursement delays, disbursement denials, and 11
disclosures of confidential financial records by fiduciary institutions. 12
BY repealing and reenacting, without amendments, 13
Article – Family Law 14
Section 14–101(q) 15
Annotated Code of Maryland 16
(2019 Replacement Volume and 2025 Supplement) 17
BY repealing and reenacting, without amendments, 18
Article – Financial Institutions 19
Section 1–301(a) and (b) 20
Annotated Code of Maryland 21
(2020 Replacement Volume and 2025 Supplement) 22
2 HOUSE BILL 1008
BY adding to 1
Article – Financial Institutions 2
Section 1–307 3
Annotated Code of Maryland 4
(2020 Replacement Volume and 2025 Supplement) 5
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 6
That the Laws of Maryland read as follows: 7
Article – Family Law 8
14–101. 9
(q) “Vulnerable adult” means an adult who lacks the physical or mental capacity 10
to provide for the adult’s daily needs. 11
Article – Financial Institutions 12
1–301. 13
(a) In this subtitle the following words have the meanings indicated. 14
(b) (1) “Fiduciary institution” means: 15
(i) A national banking association; 16
(ii) A State banking institution; 17
(iii) An other–state bank that maintains a branch in this State; 18
(iv) A credit union that is organized under the laws of this State or 19
of the United States; 20
(v) Any other organization that is organized under the banking laws 21
of this State and subject to the supervision of the Commissioner; or 22
(vi) A savings and loan association that is organized under the laws 23
of this State or of the United States. 24
(2) “Fiduciary institution” does not include any person licensed by the 25
Commissioner under Title 11 of this article. 26
1–307. 27
(A) (1) IN THIS SECTION THE F OLLOWING WORDS HAVE THE MEANI NGS 28
INDICATED. 29
HOUSE BILL 1008 3
(2) “ELIGIBLE ADULT” MEANS AN INDIVIDUAL WHO RESIDES IN THE 1
STATE AND IS: 2
(I) AT LEAST 65 YEARS OLD; OR 3
(II) A VULNERABLE ADULT. 4
(3) “FINANCIAL EXPLOITATION” MEANS: 5
(I) THE WRONGFUL OR UNAUT HORIZED TAKI NG, 6
WITHHOLDING, APPROPRIATION, OR USE OF MONEY , ASSETS, OR PROPERTY OF AN 7
ELIGIBLE ADULT; OR 8
(II) AN ACT OR OMISSION BY A PERSON, INCLUDING THROUGH 9
THE USE OF A POWER OF ATTORNEY, GUARDIANSHIP, OR CONSERVATORSHIP OF AN 10
ELIGIBLE ADULT, TO: 11
1. OBTAIN CONTROL , THROUGH DECEPTION , 12
INTIMIDATION, OR UNDUE INFLUENCE , OVER THE ELIGIBLE AD ULT’S MONEY , 13
ASSETS, OR PROPERTY IN ORDER TO DEPRIVE THE ELIGI BLE ADULT OF THE 14
OWNERSHIP, USE, BENEFIT, OR POSSESSION OF THE MONEY, ASSETS, OR PROPERTY; 15
OR 16
2. CONVERT MONEY, ASSETS, OR PROPERTY OF THE 17
ELIGIBLE ADULT IN ORDER TO DEPRIVE THE ELIGIBLE ADULT OF THE OWNERSHIP, 18
USE, BENEFIT, OR POSSESSION OF THE MONEY, ASSETS, OR PROPERTY. 19
(4) “LAW ENFORCEMENT AGENC Y” MEANS A STATE, COUNTY, OR 20
MUNICIPAL POLICE DEPARTMENT, BUREAU, OR AGENCY. 21
(5) “TRUSTED CONTACT” MEANS AN INDIVIDUAL WHO IS: 22
(I) A MEMBER OF AN ELIGIBLE ADULT’S FAMILY, INCLUDING A 23
PARENT OR GUARDIAN, A SIBLING, A SPOUSE, OR AN ADULT CHILD OF AN ELIGIBLE 24
ADULT, WHO A FIDUCIARY INST ITUTION REASONABLY B ELIEVES IS CLOSELY 25
ASSOCIATED WITH THE ELIGIBLE ADULT; 26
(II) AUTHORIZED TO TRANSACT BUSINESS ON AN ACC OUNT OF 27
AN ELIGIBLE ADULT OR AN ACCOUNT ON WHICH AN ELIGIBLE ADULT IS A 28
BENEFICIARY, INCLUDING THROUGH TH E USE OF A POWER OF ATTORNEY, 29
GUARDIANSHIP, OR CONSERVATORSHIP OF AN ELIGIBLE ADULT; 30
4 HOUSE BILL 1008
(III) LEGALLY RESPONSIBLE FOR MANAGING THE PROPERTY OR 1
FINANCIAL AFFAIRS OF AN ELIGIBLE ADULT; OR 2
(IV) DESIGNATED BY AN ELIG IBLE ADULT AS AN IND IVIDUAL 3
THAT A FIDUCIARY INSTITUTION MAY CONTACT ABOUT THE ELIGIBLE ADULT. 4
(6) “VULNERABLE ADULT” HAS THE MEANING STATED IN § 14–101 OF 5
THE FAMILY LAW ARTICLE. 6
(B) (1) A FIDUCIARY INSTITUTIO N MAY DELAY OR DENY A 7
DISBURSEMENT FROM AN ACCOUNT OF AN ELIGIB LE ADULT OR AN ACCOU NT ON 8
WHICH AN ELIGIBLE ADULT IS A BENEFICIARY IF: 9
(I) THE FIDUCIARY INSTITUTION REASONABLY BELIEVES THAT 10
THE REQUESTED DISBURSEMENT MAY RESULT IN THE FINANCIAL EXPLOITATION OF 11
THE ELIGIBLE ADULT; AND 12
(II) WITHIN 4 BUSINESS DAYS AFTER THE DATE ON WHICH THE 13
DISBURSEMENT IS REQUESTED, THE FIDUCIARY INSTITUTION: 14
1. SENDS WRITTEN NOTICE OF THE REASON FOR TH E 15
DELAY OR THE DENIAL TO ALL PARTIES AUTHO RIZED TO TRANSACT BU SINESS ON 16
THE ACCOUNT; AND 17
2. NOTIFIES THE ADULT PR OTECTIVE SERVICES 18
PROGRAM IN A LOCAL D EPARTMENT OF SOCIAL SERVICES, A LAW ENFORCEMENT 19
AGENCY, OR A STATE’S ATTORNEY. 20
(2) A FIDUCIARY INSTITUTION: 21
(I) MAY NOT SEND THE WRIT TEN NOTICE REQUIRED UNDER 22
PARAGRAPH (1) OF THIS SUBSECTION T O A PARTY THE FIDUCI ARY INSTITUTION 23
REASONABLY BELIEVES OR SUSPECTS IS ENGAG ING IN OR IS ATTEMPTING TO 24
ENGAGE IN THE FINANCIAL EXPLOITATION OF THE ELIGIBLE ADULT; AND 25
(II) ON REQUEST, SHALL PROVIDE A STAT US UPDATE ON ANY 26
DISBURSEMENT DELAY OR DENIAL TO THE ADULT PROTECTIVE SERVICES PROGRAM 27
IN A LOCAL DEPARTMENT OF SOCIAL SERVICES, A LAW ENFORCEMENT AGENCY, OR 28
A STATE’S ATTORNEY. 29
(C) (1) A DELAY OF A DISBURSEMENT AUTHORIZED UNDER THIS SECTION 30
SHALL EXPIRE: 31
HOUSE BILL 1008 5
(I) ON A DETERMINATION BY THE FIDUCIARY INSTIT UTION 1
THAT THE DISBURSEMENT WILL NOT RESULT IN THE FINANCIAL EXPLOITATION OF 2
THE ELIGIBLE ADULT; OR 3
(II) SUBJECT TO PARAGRAPHS (2) AND (3) OF THIS 4
SUBSECTION, 15 BUSINESS DAYS AFTER THE DATE ON WHICH TH E FIDUCIARY 5
INSTITUTION RECEIVES THE DISBURSEMENT REQUEST. 6
(2) (I) SUBJECT TO SUBPARAGRAPH (II) OF THIS PARAGRAPH, THE 7
ADULT PROTECT IVE SERVICES PROGRAM IN A LOCAL DEPARTMEN T OF SOCIAL 8
SERVICES, A LAW ENFORCEMENT AGENCY, OR A STATE’S ATTORNEY MAY REQUEST 9
THE DELAY OF A DISBURSEMENT FOR UP TO 25 BUSINESS DAYS AFTER THE DATE ON 10
WHICH THE FIDUCIARY INSTITUTION RECEIVES THE DISBURSEMENT REQUEST. 11
(II) THE ADULT PROTECTIVE SERVICES PROGRAM IN THE 12
LOCAL DEPARTMENT OF SOCIAL SERVICES, THE LAW ENFORCEMENT AGENCY, THE 13
STATE’S ATTORNEY, OR A COURT OF COMPET ENT JURISDICTION MAY ISSUE AN 14
ORDER THAT TERMINATES OR EXTENDS THE DELAY. 15
(3) IF THE FIDUCIARY INSTITUTION HAS NOT RECEIVED A REQUEST 16
UNDER PARAGRAPH (2) OF THIS SUBSECTION , THE FIDUCIARY INSTIT UTION MAY 17
EXTEND THE DELAY OF A DISBURSEMENT FOR UP TO 25 BUSINESS DAYS AFTER THE 18
DATE ON WHICH THE FI DUCIARY INSTITUTION RECEIVES THE DISBURS EMENT 19
REQUEST. 20
(D) (1) A FIDUCIARY INSTITUTION SHALL PROVIDE ACCESS TO OR COPIES 21
OF FINANCIAL RECORDS THAT ARE RELEVANT TO THE SUSPECTED FINANC IAL 22
EXPLOITATION OF AN ELIGIBLE ADULT: 23
(I) AS PART OF A REFERRAL TO THE ADULT PROTECT IVE 24
SERVICES PROGRAM IN A L OCAL DEPARTMENT OF S OCIAL SERVICES , A LAW 25
ENFORCEMENT AGENCY, OR A STATE’S ATTORNEY UNDER SUBSECTION (B) OF THIS 26
SECTION; OR 27
(II) ON REQUEST OF THE ADU LT PROTECTIVE SERVIC ES 28
PROGRAM IN A LOCAL D EPARTMENT OF SOCIAL SERVICES, A LAW ENFORCEMENT 29
AGENCY, OR A STATE’S ATTORNEY. 30
(2) THE FINANCIAL RECORDS UNDER PARAGRAPH (1) OF THIS 31
SUBSECTION MAY INCLUDE HISTORICAL RECORDS AND RECORDS THAT RELATE TO 32
THE MOST RECENT TRAN SACTIONS THAT MAY DE MONSTRATE THE FINANC IAL 33
EXPLOITATION OF AN ELIGIBLE ADULT. 34
6 HOUSE BILL 1008
(3) A FINANCIAL RECORD MADE AVAILABLE UNDER THIS 1
SUBSECTION IS NOT A PUBLIC RECORD UNDER TITLE 4 OF THE GENERAL 2
PROVISIONS ARTICLE. 3
(E) (1) IN ADDITION TO THE NO TICE REQUIRED UNDER SUBSECTION 4
(B)(1) OF THIS SECTION , A FIDUCIARY INSTITUT ION THAT REASONABLY BELIEVES 5
THAT A REQUESTED DIS BURSEMENT FROM AN AC COUNT OF AN ELIGIBLE ADULT 6
MAY RESULT IN THE FI NANCIAL EXPLOITATION OF THE ELIGIBLE ADUL T MAY 7
NOTIFY THE ELIGIBLE ADULT’S TRUSTED CONTACT , UNLESS THE FIDUCIARY 8
INSTITUTION REASONAB LY BELIEVES OR SUSPE CTS THE TRUS TED CONTACT IS 9
ENGAGING IN OR IS ATTEMPTING TO ENGAGE IN THE FINANCIAL EXPLOITATION OF 10
THE ELIGIBLE ADULT. 11
(2) A FIDUCIARY INSTITUTION MAY LIMIT NOTICE PROVIDED UNDER 12
PARAGRAPH (1) OF THIS SUBSECTION T O DISCLOSING THE FID UCIARY 13
INSTITUTION’S REASONABLE BELIEF THAT THE ELIG IBLE ADULT MAY BE A VICTIM 14
OR TARGET OF FINANCIAL EXPLOITATION. 15
(F) A FIDUCIARY INSTITUTIO N ACTING IN GOOD FAI TH AND EXERCISING 16
REASONABLE CARE SHAL L HAVE IMMUNITY FROM ANY ADMINISTRATIVE O R CIVIL 17
LIABILITY THAT MIGHT OTHERWISE ARISE FROM: 18
(1) THE PROVISION OF A NO TICE UNDER SUBSECTION (B) OR (E) OF 19
THIS SECTION; AND 20
(2) A DELAY OR DENIAL OF A DISBURSEMENT UNDER SUBSECTION (B) 21
OF THIS SECTION. 22
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 23
October 1, 2026. 24
Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
Speaker of the House of Delegates.
________________________________________________________________________________
President of the Senate.