Sec. 281.005. IMMUNITY. (a) An employee of a financial institution who makes a notification under Section 281.002(a), a financial institution that submits a report under Section 281.002(b) or makes a notification to a third party under Section 281.003, or an employee who or financial institution that testifies or otherwise participates in a judicial proceeding arising from a notification or report is immune from any civil or criminal liability arising from the notification, report, testimony, or participation in the judicial proceeding, unless the employee or financial institution acted in bad faith or with a malicious purpose.
(b) A financial institution that in good faith and with the exercise of reasonable care places or does not place a hold on any transaction under Section 281.004(a)(1) is immune from any civil or criminal liability or disciplinary action resulting from that action or failure to act.
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(8), eff. September 1, 2019.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses
Chapter 281 - Protection of Vulnerable Adults From Financial Exploitation
Section 281.002. Reporting Suspected Financial Exploitation of Vulnerable Adults
Section 281.003. Notifying Third Parties of Suspected Financial Exploitation of Vulnerable Adults