Alabama § 8-6-191 Legislative Findings

Alabama Statutes

§ 8-6-191 — Legislative Findings

Alabama § 8-6-191

Title 8Commercial Law and Consumer Protection

Ch. 6Securities

Art. 8Elderly and Vulnerable Adult Financial Protection Act of 2021

This text of Alabama § 8-6-191 (Legislative Findings) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 8-6-191 (2026).

Text

The Legislature finds that instances of financial exploitation are on the rise in Alabama and elsewhere, particularly among elderly and vulnerable adults. The Legislature recognizes that while financial institutions are uniquely positioned to potentially uncover instances of financial exploitation, they are also subject to duties imposed by contract and law to conduct financial transactions in accordance with their customers’ instructions. While all instances of financial exploitation cannot be exposed, delayed, or thwarted, it is the intent of the Legislature that this article furnish financial institutions with additional tools to protect elderly and vulnerable adults from financial exploitation.

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The Legislature finds that instances of financial exploitation are on the rise in Alabama and elsewhere, particularly among elderly and vulnerable adults. The Legislature recognizes that while financial institutions are uniquely positioned to potentially uncover instances of financial exploitation, they are also subject to duties imposed by contract and law to conduct financial transactions in accordance with their customers’ instructions. While all instances of financial exploitation cannot be exposed, delayed, or thwarted, it is the intent of the Legislature that this article furnish financial institutions with additional tools to protect elderly and vulnerable adults from financial exploitation.