Mississippi 2020 Regular Session Status: In Committee

SB 2202 — Financial institutions; authorize to delay a transaction upon good-faith belief that eligible person will be exploited.

Last action — Died On Calendar

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

27 added · 24 removed

Plain-language change summary

The changes to SB 2202 adjust the maximum time a financial institution can delay a transaction suspected of exploiting an eligible person from fifteen days to ten days. Additionally, the new version clarifies that law enforcement or the Department of Human Services can extend the delay for another ten business days if needed. This reduction in the initial delay duration and the clearer protocol for extensions aim to better balance the protection of vulnerable individuals with the efficiency of financial transactions. Overall, it enhances the ability to quickly address potential exploitation while ensuring proper oversight.

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SB2202 (As Introduced) - 2020 Regular Session MISSISSIPPI LEGISLATURE Regular Session To:
SB2202 (COMMITTEE SUBSTITUTE) - 2020 Regular Session MISSISSIPPI LEGISLATURE Regular Session To:
Senator(s) Caughman Senate Bill 2202 AN ACT TO AUTHORIZE A FINANCIAL INSTITUTION TO DELAY THE COMPLETION OF A FINANCIAL TRANSACTION, IF THE INSTITUTION BELIEVES IN GOOD FAITH THAT A REQUESTED TRANSACTION MAY RESULT IN, OR BE THE RESULT OF, EXPLOITATION OF AN ELIGIBLE PERSON;
Senator(s) Caughman Senate Bill 2202 (COMMITTEE SUBSTITUTE) AN ACT TO AUTHORIZE A FINANCIAL INSTITUTION TO DELAY THE COMPLETION OF A FINANCIAL TRANSACTION, IF THE INSTITUTION BELIEVES IN GOOD FAITH THAT A REQUESTED TRANSACTION MAY RESULT IN, OR BE THE RESULT OF, EXPLOITATION OF AN ELIGIBLE PERSON;
     (2)  If a financial institution believes in good faith that a requested transaction of any kind may result in, or be the result of, exploitation of an eligible person, the institution may delay the completion or execution of the transaction for a period of time not to exceed fifteen (15) business days, unless extended, as otherwise provided in this section.
     (2)  If an officer of a financial institution or a branch manager believes in good faith that a requested transaction of any kind may result in, or be the result of, exploitation of an eligible person, the institution may delay the completion or execution of the transaction for a period of time not to exceed ten (10) days, unless extended as provided in this section.
or           (b)  Fifteen (15) business days, unless the Department of Human Services or a law enforcement authority requests that the bank extend the delay, in which case the delay shall be extended for an additional period of up to ten (10) business days unless otherwise extended or terminated by court order.  The Department of Human Services, any law enforcement authority or any interested person may petition a court of competent jurisdiction to enter an order extending or terminating the delay of a transaction.
or           (b)  Ten (10) days, unless the Department of Human Services or a law enforcement authority requests that the bank extend the delay, in which case the delay shall be extended for an additional period of up to ten (10) business days unless otherwise extended or terminated by court order.  The Department of Human Services, any law enforcement authority or any interested person may petition a court of competent jurisdiction to enter an order extending or terminating the delay of a transaction.
     (4)  If a transaction is delayed, the financial institution shall promptly notify the Department of Human Services, and at its option may notify any federal, state or local law enforcement authority, any other person who is authorized to have access to or transact business on any account of the eligible person with the financial institution, any person reasonably associated with the eligible person, or any other person permitted by state or federal laws or regulations or by customer agreement.  The financial institution may disclose in connection with such notification information about the transaction, the reason for the delay, and any information that may be included in a report of abuse, neglect or exploitation as provided in Section 43-47-7.
     (4)  If a transaction is delayed, the financial institution shall promptly notify the Department of Human Services, and at its option may notify any person who is authorized to have access to or transact business on any account of the eligible person with the financial institution, any person reasonably associated with the eligible person, or any other person permitted by state or federal laws or regulations or by customer agreement.  If an officer of the financial institution suspects exploitation, the financial institution must notify a federal, state or local law enforcement agency within forty-eight (48) hours.  The financial institution may disclose in connection with such notification information about the transaction, the reason for the delay, and any information that may be included in a report of abuse, neglect or exploitation as provided in Section 43-47-7.
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Action History

  1. Died On Calendar

  2. Title Suff Do Pass Comm Sub

  3. Referred To Judiciary, Division A

Sponsors

  • Caughman · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 174 not signed on

Sponsors (1)

  • Caughman

Co-sponsors (0)

None.

Not signed on (174)

174 members have not signed on to this bill.

Show all 174 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

public-safety finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 2202?
SB 2202 is sponsored by Caughman.
What is the current status of SB 2202?
This bill died with 2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 2202?
Track SB 2202 free on One Click Politics — get push/email alerts when it moves.

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