This bill establishes new protections for financial institutions in South Dakota that take action to prevent the financial exploitation of consenting, senior, or vulnerable adults. It defines key terms such as "account," "consenting adult," "financial exploitation," "financial institution," "senior adult," and "vulnerable adult." The bill allows financial institutions to delay or refuse transactions if they reasonably believe that financial exploitation may be occurring or has occurred. It also grants institutions the discretion to notify third parties associated with the adult if exploitation is suspected, while providing immunity from civil, criminal, or administrative liability for actions taken in accordance with these provisions.

Additionally, the bill outlines the duration of the authority granted to financial institutions to act under these circumstances, which can last up to thirty business days or until a court order terminates it. It clarifies that a refusal to engage in a transaction under this chapter does not constitute wrongful dishonor of an item. Overall, the legislation aims to empower financial institutions to protect vulnerable populations from financial exploitation while providing them with legal protections for their actions.