{"data":{"id":"us-tx/tex.-government-code-4004.355","jurisdiction":"us-tx","citation":"Tex. Government Code § 4004.355","heading":"TEMPORARY HOLD ON TRANSACTIONS IN CERTAIN CASES OF SUSPECTED FINANCIAL EXPLOITATION OF VULNERABLE ADULTS.","body":"(a) Notwithstanding any other law, a dealer or investment adviser:\n(1) may place a hold on any transaction that involves an account of a vulnerable adult if the dealer or investment adviser:\n(A) submits a report of suspected financial exploitation of the vulnerable adult to the commissioner and the department under Section 4004.352(b); and\n(B) has cause to believe the transaction is related to the suspected financial exploitation alleged in the report; and\n(2) must place a hold on any transaction involving an account of a vulnerable adult if the hold is requested by the commissioner, the department, or a law enforcement agency.\n(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.\n(c) A dealer or investment adviser 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 dealer or investment adviser 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.\n(d) Each dealer and investment adviser shall adopt internal policies, programs, plans, or procedures for placing a hold on a transaction involving an account of a vulnerable adult under Subsection (a).\nAdded by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.\nAmended by:\nActs 2021, 87th Leg., R.S., Ch. 502 (H.B. 4477), Sec. 3, eff. January 1, 2022.","path":["GOVERNMENT CODE","TITLE 12. SECURITIES ACT","CHAPTER 4004. REGULATION OF DEALERS, INVESTMENT ADVISERS, DEALERS' AGENTS, AND INVESTMENT ADVISER REPRESENTATIVES","SUBCHAPTER H. REQUIREMENTS FOR PROTECTION OF VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.4004.htm#4004.355","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"56591b2b4f791a3620a54e8412aa51b05f514311f7e1fa4f3d61087f6590a88c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-4004.354","next":"us-tx/tex.-government-code-4004.356"},"notice":"GroundRules: Original legal text. Not legal advice."}