Tex. Fin. Code § 281.004 · Chapter 281. PROTECTION OF VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION
TEMPORARY HOLD ON TRANSACTIONS IN CERTAIN CASES OF SUSPECTED FINANCIAL EXPLOITATION OF VULNERABLE ADULTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Notwithstanding any other law, a financial institution:
(1) may place a hold on any transaction that involves an account of a vulnerable adult if the financial institution:
(A) submits a report of suspected financial exploitation of the vulnerable adult to the department under Section 281.002(b); and
(B) has cause to believe the transaction is related to the suspected financial exploitation alleged in the report; and
(2) must place a hold on any transaction involving an account of a vulnerable adult if the hold is requested by the department or a law enforcement agency.
(b) Subject to Subsection (c), a hold placed on any transaction under Subsection (a) expires on the 10th business day after the date the hold is placed.
(c) The financial institution may extend a hold placed on any transaction under Subsection (a) for a period not to exceed 30 business days after the expiration of the period prescribed by Subsection (b) if requested by a state or federal agency or a law enforcement agency investigating the suspected financial exploitation. The financial institution may also petition a court to extend a hold placed on any transaction under Subsection (a) beyond the period prescribed by Subsection (b). A court may enter an order extending or shortening a hold or providing other relief.
(d) Each financial institution shall adopt internal policies, programs, plans, or procedures for placing a hold on a transaction involving an account of a vulnerable adult under this section.
Notes and commentary — not statutory text
History
Added by Acts 2017, 85th Leg., R.S., Ch. 376 (H.B. 3921), Sec. 1, eff. September 1, 2017.
Redesignated from Finance Code, Chapter 280 by Acts 2019, 86th Leg., R.S., Ch. 467 (H.B. 4170), Sec. 21.001(19), eff. September 1, 2019.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 467 (H.B. 4170), Sec. 21.002(7), eff. September 1, 2019.
Acts 2021, 87th Leg., R.S., Ch. 502 (H.B. 4477), Sec. 2, eff. September 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.281.htm
- Text hash
- sha256 6c44f4d9791836af10e86081711f4b0e9368833e2945b18bab234e5b1149af97
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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