South Dakota legislation · 101st Legislature (2026)
South Dakota HB1238: protect financial institutions taking action to prevent the financial exploitation of consenting, senior, or vulnerable adults.
Status: Signed into law, March 12, 2026
What the bill says
An Act ENTITLED An Act to protect financial institutions taking action to prevent the financial exploitation of consenting, senior, or vulnerable adults.
From the enrolled text, March 5, 2026:
An Act ENTITLED An Act to protect financial institutions taking action to prevent the financial exploitation of consenting, senior, or vulnerable adults. Be it enacted by the Legislature of the State of South Dakota: Section 1. That a NEW SECTION be added to a NEW CHAPTER in title 51A: Terms used in this chapter mean: (1) "Account," a contract for the deposit of funds between the depositor and a financial institution, provided: (a) The account is owned by a consenting, senior, or vulnerable adult, whether individually or with one or more other individuals; or (b) A consenting, senior, or vulnerable adult is a beneficiary of the account; (2) "Consenting adult," any account holder who consents, in writing, to the financial institution and its employees responding to any reasonable concern regarding financial exploitation; (3) "Financial exploitation," the wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or other property, or the identifying information of a consenting, senior, or vulnerable adult, by any individual or an act or omission by an individual, including through the use of a power of attorney on behalf of, or as the conservator or guardian of, a consenting, senior, or vulnerable adult, to: (a) Obtain control, through deception, intimidation, fraud, or undue influence over the consenting, senior, or vulnerable adult's money, assets, or other property, …
Sponsors
- Mellissa Heermann (R, HD-007) · primary sponsor
- Steve Kolbeck (R, SD-002) · primary sponsor
- Steve Duffy (R, HD-032)
- Eric Emery (D, HD-026)
- Scott Moore (R, HD-023)
- Erik Muckey (D, HD-015)
- Tim Reed (R, 07)
- Matt Roby (R, HD-005)
- Jamie Smith (D, SD-015)
- Kadyn Wittman (D, HD-015)
Latest actions
- : Signed by the Governor
- : Delivered to the Governor
- : Signed by the President
- : Signed by the Speaker
- : Do Pass
- : Certified uncontested, placed on consent
- : Do Pass
- : Scheduled for hearing
- : First read in Senate and referred to Commerce and Energy
- : Do Pass
Votes
- Do Pass (March 4, 2026): 34 yea, 0 nay, passed
- Do Pass (March 3, 2026): 8 yea, 0 nay, passed
- Do Pass (February 11, 2026): 11 yea, 1 nay, passed
- Do Pass (February 5, 2026): 56 yea, 6 nay, passed
Subjects: Liability, Crimes, Banks and Banking
Common questions
- What is HB1238?
- HB1238 is a bill in the South Dakota Legislature (101st Legislature (2026)): protect financial institutions taking action to prevent the financial exploitation of consenting, senior, or vulnerable adults.
- What does HB1238 do?
- In its own words: An Act ENTITLED An Act to protect financial institutions taking action to prevent the financial exploitation of consenting, senior, or vulnerable adults.
- What is the status of HB1238?
- Signed into law as of March 12, 2026. Latest action: Signed by the Governor (March 12, 2026).
- Who sponsored HB1238?
- Mellissa Heermann (R, HD-007), with 9 co-sponsors.
- Where is the official record for HB1238?
- On the South Dakota Legislature website: https://sdlegislature.gov/Session/Bill/27202
Source: official South Dakota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.