HB 1110 CO

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Became Law

The act creates the 'Adults' Security and Safeguards from Exploitation in Transactions Act' or the 'ASSET Act'. The act requires or authorizes a qualified individual at a bank or credit union (financial institution) to do the following when the individual reasonably and in good faith suspects that a vulnerable adult is the victim of financial exploitation:The qualified individual must notify appropriate local law enforcement or the county agency handling adult protective services; andThe qualified individual may notify a third party previously designated by or reasonably associated with the vulnerable adult.     A financial institution or qualified individual may delay a disbursement from an account if the financial institution or qualified individual:Reasonably believes that the vulnerable adult is subject to financial exploitation;Provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account within 2 business days after the requested disbursement; except that a party who is reasonably believed to have engaged in financial exploitation of the vulnerable adult need not be notified; andContinues its internal review of the suspected or attempted financial exploitation.     The delay may continue until:The financial institution or qualified individual reasonably believes that the vulnerable adult is not subject to financial exploitation;Local law enforcement or the county agency handling adult protective services concludes its investigation; orA court orders that the delay be removed.     A financial institution or qualified individual must make a determination within 90 days after beginning the delay of a disbursement or, if waiting on the investigation of local law enforcement or a county agency handling adult protective services, within 180 days. The disbursement must be made or refused based on the conclusions of the investigation or the expiration of the time.     A financial institution and qualified individual are immune from liability arising from the actions or from failing to take the actions authorized in the act if the act or failure to act was made in good faith and exercising reasonable care.     A financial institution must provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of an vulnerable adult to agencies charged with administering state adult protective services laws and to law enforcement. The records made available to agencies are not public records, as defined in the 'Colorado Open Records Act'.(Note: This summary applies to this bill as enacted.)

• S. Camacho Democratic · sponsor
• J. Jackson Democratic · sponsor
• M. Catlin Republican · sponsor
• J. Danielson Democratic · sponsor
• C. Simpson Republican · sponsor

1. May 26, 2026 Governor Signed · executive
2. May 20, 2026 Sent to the Governor · executive
3. May 20, 2026 Signed by the President of the Senate · upper
4. May 20, 2026 Signed by the Speaker of the House · lower
5. Apr 21, 2026 House Considered Senate Amendments - Result was to Concur - Repass · lower
6. Apr 20, 2026 Senate Third Reading Passed - No Amendments · upper
7. Apr 17, 2026 Senate Second Reading Special Order - Passed with Amendments - Committee · upper
8. Apr 14, 2026 Senate Committee on Business, Labor, & Technology Refer Amended - Consent Calendar to Senate Committee of the Whole · upper
9. Apr 6, 2026 Introduced In Senate - Assigned to Business, Labor, & Technology · upper
10. Mar 9, 2026 House Third Reading Passed - No Amendments · lower
11. Mar 6, 2026 House Second Reading Special Order - Passed with Amendments - Committee, Floor · lower
12. Mar 4, 2026 House Second Reading Laid Over Daily with Amendments - Committee · lower
13. Mar 3, 2026 House Second Reading Special Order - Laid Over Daily with Amendments - Committee · lower
14. Feb 26, 2026 House Committee on Finance Refer Amended to House Committee of the Whole · lower
15. Feb 3, 2026 Introduced In House - Assigned to Finance · lower