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2013 SESSION

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HB 2267 Criminal activity proceeds; freeze of assets.

Introduced by: David I. Ramadan | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Proceeds of criminal activity; freeze of assets. Authorizes the attorney for the Commonwealth to petition the circuit court to freeze an account or safe deposit box owned or held by a person charged with a crime. The court shall enter an order freezing such account or safe deposit box if it finds probable cause that the account or safe deposit box contains the proceeds of the crime or offense with which the person has been charged and there is reason to believe that the contents of the account or safe deposit box are likely to be removed and could not be recovered if the person is ultimately convicted of the crime or offense charged. The initial freeze order cannot exceed 90 days, though additional 30-day extensions may be granted. The bill also provides that the owner or holder of the frozen account or safe deposit box may petition the circuit court to unfreeze the account or safe deposit box at any time prior to the expiration of the order. The bill further provides that no financial institution or officer or employee of such institution shall be liable for complying with a freeze order.


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