Bill Text: IA SSB1238 | 2015-2016 | 86th General Assembly | Introduced
Bill Title: A study bill for an act relating to fiduciary access to digital assets and including applicability provisions.
Spectrum: Unknown
Status: (Introduced - Dead) 2015-03-03 - 12:30PM; Senate Lobbyist Lounge Judiciary. [SSB1238 Detail]
Download: Iowa-2015-SSB1238-Introduced.html
Senate
Study
Bill
1238
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
JUDICIARY
BILL
BY
CHAIRPERSON
SODDERS)
A
BILL
FOR
An
Act
relating
to
fiduciary
access
to
digital
assets
and
1
including
applicability
provisions.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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_____
Section
1.
NEW
SECTION
.
633.90
Power
of
a
fiduciary
to
1
access
digital
assets
and
digital
accounts.
2
Except
as
modified
by
a
court
order
or
limited
in
the
3
instrument
creating
the
fiduciary
relationship,
a
fiduciary
may
4
exercise
all
rights
and
powers
granted
to
a
fiduciary
under
5
chapter
633F.
6
Sec.
2.
Section
633A.4402,
Code
2015,
is
amended
by
adding
7
the
following
new
subsection:
8
NEW
SUBSECTION
.
33.
Exercise
all
rights
and
powers
granted
9
to
a
fiduciary
under
chapter
633F.
10
Sec.
3.
Section
633B.201,
subsection
1,
Code
2015,
is
11
amended
by
adding
the
following
new
paragraph:
12
NEW
PARAGRAPH
.
i.
Exercise
all
rights
and
powers
granted
to
13
a
fiduciary
under
chapter
633F.
14
Sec.
4.
NEW
SECTION
.
633F.1
Short
title.
15
This
chapter
shall
be
known
and
may
be
cited
as
the
“Iowa
16
Uniform
Fiduciary
Access
to
Digital
Assets
Act”
.
17
Sec.
5.
NEW
SECTION
.
633F.2
Definitions.
18
For
purposes
of
this
chapter
unless
the
context
requires
19
otherwise:
20
1.
“Account”
means
a
digital
asset
of
an
account
holder
21
assigned
a
unique
account
identifier
or
tied
to
one
or
more
22
pieces
of
verified
identifying
information
of
an
account
23
holder.
24
2.
“Account
holder”
means
a
person
who
has
entered
into
25
a
terms-of-service
agreement
with
a
custodian.
A
fiduciary
26
for
that
person
shall
also
be
deemed
to
be
an
account
holder,
27
subject
to
the
provisions
of
this
chapter.
28
3.
“Agent”
means
a
person
granted
authority
under
a
durable
29
or
nondurable
power
of
attorney
valid
under
chapter
633B.
30
4.
“Carries”
means
engages
in
the
transmission
of
electronic
31
communications.
32
5.
“Catalogue
of
electronic
communications”
means
information
33
that
identifies
each
person
with
which
an
account
holder
has
34
had
an
electronic
communication,
the
time
and
date
of
the
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communication,
and
the
electronic
address
of
the
person.
1
6.
“Conservator”
means
the
same
as
defined
in
section
633.3,
2
and
includes
a
limited
conservator,
unless
otherwise
provided
3
by
order
of
the
court.
4
7.
“Content
of
an
electronic
communication”
means
information
5
concerning
the
substance
or
meaning
of
the
communication
which
6
is
characterized
by
all
of
the
following:
7
a.
Has
been
sent
or
received
by
the
account
holder.
8
b.
Is
in
electronic
storage
by
a
custodian
providing
a
9
remote-computing
service
to
the
public.
10
c.
Is
not
readily
accessible
to
the
public.
11
8.
“Court”
means
any
district
court
or
appellate
court
of
12
this
state.
13
9.
“Custodian”
means
a
person
that
carries,
maintains,
14
processes,
receives,
or
stores
a
digital
asset
of
an
account
15
holder.
16
10.
“Digital
asset”
means
a
record
that
is
electronic.
17
“Digital
asset”
does
not
include
an
underlying
asset
or
18
liability
unless
the
asset
or
liability
is
itself
a
record
19
that
is
electronic.
“Digital
asset”
does
not
include
health
20
information
or
individually
identifiable
health
information
as
21
those
terms
are
defined
in
section
1171
of
Part
C
of
Subtitle
F
22
of
the
federal
Health
Insurance
Portability
and
Accountability
23
Act
of
1996,
Pub.
L.
No.
104-191,
as
amended.
24
11.
“Electronic”
means
relating
to
technology
having
25
electrical,
digital,
magnetic,
wireless,
optical,
26
electromagnetic,
or
similar
capabilities.
27
12.
“Electronic
communication”
means
the
same
as
defined
in
28
18
U.S.C.
§2510(12).
29
13.
“Electronic-communication
service”
means
a
custodian
30
that
provides
to
an
account
holder
the
ability
to
send
or
31
receive
an
electronic
communication.
32
14.
“Fiduciary”
means
an
agent,
conservator,
guardian,
33
personal
representative,
or
trustee.
34
15.
“Guardian”
means
the
same
as
defined
in
section
633.3.
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“Guardian”
includes
a
limited
guardian,
unless
otherwise
1
provided
by
order
of
the
court.
2
16.
“Information”
means
data,
text,
images,
videos,
sounds,
3
codes,
computer
programs,
software,
databases,
or
the
like.
4
17.
“Person”
means
an
individual,
estate,
business
5
or
nonprofit
entity,
public
corporation,
government
or
6
governmental
subdivision,
agency,
or
instrumentality,
or
other
7
legal
entity.
8
18.
“Personal
representative”
means
the
same
as
defined
in
9
section
633.3.
10
19.
“Power
of
attorney”
means
a
record
that
grants
an
agent
11
authority
to
act
in
the
place
of
a
principal.
12
20.
“Principal”
means
an
individual
who
grants
authority
to
13
an
agent
in
a
power
of
attorney
valid
under
chapter
633B.
14
21.
“Record”
means
information
that
is
inscribed
on
a
15
tangible
medium
or
that
is
stored
in
an
electronic
or
other
16
medium
and
is
retrievable
in
a
perceivable
form.
17
22.
“Remote-computing
service”
means
a
custodian
that
18
provides
to
the
public
computer
processing
services
or
19
the
storage
of
digital
assets
by
means
of
an
electronic
20
communications
system,
as
defined
in
18
U.S.C.
§2510(14).
21
23.
“Terms-of-service
agreement”
means
an
agreement
that
22
controls
the
relationship
between
an
account
holder
and
a
23
custodian.
24
24.
“Trustee”
means
the
same
as
defined
in
section
633.3
or
25
633A.1102.
26
25.
“Ward”
means
a
person
for
whom
a
guardian
has
been
27
appointed,
or
a
person
whose
property
is
under
control
of
a
28
conservator
appointed
by
a
court.
“Ward”
includes
a
person
29
for
whom
an
application
for
the
appointment
of
a
guardian
or
30
conservator
is
pending
and
for
which
a
court
order
authorizing
31
access
has
been
granted.
32
26.
“Will”
includes
the
same
as
defined
in
section
633.3.
33
Sec.
6.
NEW
SECTION
.
633F.3
Applicability.
34
1.
This
chapter
applies
to
all
of
the
following:
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a.
A
fiduciary
or
agent
acting
under
a
will
or
power
of
1
attorney
executed
before,
on,
or
after
the
effective
date
of
2
this
Act.
3
b.
A
personal
representative
acting
for
a
decedent
who
dies
4
before,
on,
or
after
the
effective
date
of
this
Act.
5
c.
A
conservator
or
guardian
acting
for
a
ward
on
or
after
6
the
effective
date
of
this
Act.
7
d.
A
trustee
acting
under
a
trust
created
before,
on,
or
8
after
the
effective
date
of
this
Act.
9
2.
This
Act
does
not
apply
to
a
digital
asset
of
an
employer
10
used
by
an
employee
in
the
ordinary
course
of
the
employer’s
11
business.
12
Sec.
7.
NEW
SECTION
.
633F.4
Access
by
personal
13
representative
to
digital
assets
of
decedent.
14
1.
Subject
to
subsection
2
and
section
633F.8,
subsection
15
2,
unless
expressly
prohibited
in
writing
by
the
decedent,
if
16
appointed
by
a
court
with
jurisdiction
over
the
estate
of
a
17
decedent
or
expressly
permitted
by
the
will
of
a
decedent,
a
18
personal
representative
of
the
decedent
has
the
right
to
access
19
an
account
of
a
decedent
to
obtain
any
of
the
following:
20
a.
The
content
of
an
electronic
communication
that
the
21
custodian
is
permitted
to
disclose
under
the
federal
Electronic
22
Communications
Privacy
Act,
18
U.S.C.
§2702(b),
as
amended.
23
b.
Any
catalogue
of
electronic
communications
sent
or
24
received
by
the
decedent.
25
c.
Any
other
digital
asset
in
which
the
decedent
at
death
26
had
a
right
or
interest.
27
2.
If
the
decedent
was
not
the
sole
owner
or
authorized
28
user
of
the
account
and
the
account’s
contents,
the
personal
29
representative
shall
obtain
written
authorization
from
each
30
other
account
holder,
owner,
or
user
authorized
to
modify
the
31
contents
of
the
accounts
as
identified
by
the
custodian,
before
32
being
granted
access
under
this
section.
33
3.
For
purposes
of
this
section,
a
successor
of
a
decedent
34
as
defined
in
section
633.356
shall
be
deemed
to
be
a
duly
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appointed
personal
representative.
1
Sec.
8.
NEW
SECTION
.
633F.5
Access
by
conservator
or
2
guardian
to
digital
assets
of
ward.
3
1.
Subject
to
subsection
2
and
section
633F.8,
subsection
2,
4
a
court
with
personal
jurisdiction
over
a
ward,
after
providing
5
an
opportunity
for
hearing
to
all
interested
parties,
may
grant
6
a
duly
appointed
conservator
or
guardian
the
right
to
access
an
7
account
of
the
ward
to
obtain
any
of
the
following:
8
a.
The
content
of
an
electronic
communication
that
the
9
custodian
is
permitted
to
disclose
under
the
federal
Electronic
10
Communications
Privacy
Act,
18
U.S.C.
§2702(b),
as
amended.
11
b.
A
catalogue
of
electronic
communications
sent
or
received
12
by
the
ward.
13
c.
A
digital
asset
in
which
the
ward
has
a
right
or
14
interest.
15
2.
If
the
ward
is
not
the
sole
owner
or
authorized
user
16
of
the
accounts
and
the
account’s
contents,
the
conservator
17
or
guardian
shall
obtain
written
authorization
from
each
18
other
account
holder,
owner,
or
user
authorized
to
modify
the
19
contents
of
the
account,
as
identified
by
the
custodian
before
20
being
granted
access
under
this
section.
21
Sec.
9.
NEW
SECTION
.
633F.6
Access
by
agent
to
digital
22
assets
of
principal.
23
1.
To
the
extent
a
power
of
attorney
expressly
grants
24
authority
to
an
agent
over
the
content
of
an
account
of
the
25
principal
and
subject
to
section
633F.8,
subsection
2,
the
26
agent
has
the
right
to
access
the
account
of
the
principal
to
27
obtain
the
content
of
an
electronic
communication
that
the
28
custodian
is
permitted
to
disclose
under
the
federal
Electronic
29
Communications
Privacy
Act,
18
U.S.C.
§2702(b),
as
amended,
30
provided
that
the
principal
is
the
sole
owner
and
authorized
31
users
of
the
account.
If
the
principal
is
not
the
sole
owner
or
32
authorized
user
of
the
account
and
the
account’s
contents,
the
33
agent
must
obtain
written
authorization
from
each
other
account
34
holder,
owner,
or
user
authorized
to
modify
the
contents
of
the
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account,
as
identified
by
the
custodian
before
being
granted
1
access
under
this
section.
2
2.
Subject
to
section
633F.8,
subsection
2,
and
except
as
3
provided
in
subsection
1,
and
unless
otherwise
provided
by
4
a
power
of
attorney
or
the
court,
an
agent
has
the
right
to
5
access
all
of
the
following:
6
a.
A
catalogue
of
electronic
communications
sent
or
received
7
by
the
principal.
8
b.
A
digital
asset
in
which
the
principal
has
a
right
or
9
interest.
10
Sec.
10.
NEW
SECTION
.
633F.7
Access
by
trustee
to
digital
11
assets.
12
1.
Subject
to
subsection
3
and
section
633F.8,
subsection
13
2,
and
unless
otherwise
ordered
by
the
court
or
provided
by
14
the
settlor
in
the
terms
of
a
trust,
a
trustee
or
a
successor
15
trustee
that
is
an
original
account
holder
has
the
right
to
16
access
any
digital
asset
held
in
trust,
including
the
catalogue
17
of
electronic
communications
of
the
trustee
and
the
content
of
18
an
electronic
communication.
19
2.
Subject
to
subsection
3
and
section
633F.8,
subsection
2,
20
and
unless
otherwise
ordered
by
the
court
or
provided
by
the
21
terms
of
a
trust,
a
trustee
that
is
not
an
original
account
22
holder
has
the
right
to
access
all
of
the
following:
23
a.
The
content
of
an
electronic
communication
that
the
24
custodian
is
permitted
to
disclose
under
the
federal
Electronic
25
Communications
Privacy
Act,
18
U.S.C.
§2702(b),
as
amended.
26
b.
A
catalogue
of
electronic
communications
sent
or
received
27
by
the
original
or
any
successor
account
holder.
28
c.
Any
other
digital
asset
in
which
the
original
or
any
29
successor
account
holder
has
a
right
or
interest.
30
3.
If
the
settlor
was
not
the
sole
owner
or
authorized
31
user
of
the
account
and
the
account’s
contents,
the
trustee
or
32
successor
trustee
shall
obtain
written
authorization
from
each
33
other
account
holder,
owner,
or
user
authorized
to
modify
the
34
contents
of
the
account,
as
identified
by
the
custodian
before
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being
granted
access
under
this
section.
1
Sec.
11.
NEW
SECTION
.
633F.8
Fiduciary
authority.
2
1.
A
fiduciary
that
is
an
account
holder
or
has
the
right
3
under
section
633F.4,
633F.5,
633F.6,
or
633F.7
to
access
a
4
digital
asset
of
an
account
holder:
5
a.
Subject
to
the
terms-of-service
agreement,
copyright
law,
6
and
other
applicable
law,
may
take
any
action
concerning
the
7
asset
to
the
extent
of
the
account
holder’s
authority
and
the
8
fiduciary’s
power
under
the
laws
of
this
state.
9
b.
Has,
for
the
purpose
of
applicable
electronic
privacy
10
laws,
the
lawful
consent
of
the
account
holder
for
the
11
custodian
to
divulge
the
content
of
an
electronic
communication
12
to
the
fiduciary.
13
c.
Is
an
authorized
user
for
the
purpose
of
applicable
Iowa
14
and
federal
computer
fraud
and
unauthorized
computer-access
15
laws.
16
2.
Unless
an
account
holder,
after
the
effective
date
of
17
this
Act
agrees
to
a
provision
in
a
terms-of-service
agreement
18
that
limits
a
fiduciary’s
access
to
a
digital
asset
of
the
19
account
holder
by
an
affirmative
act
separate
from
the
account
20
holder’s
assent
to
other
provisions
of
the
agreement,
the
21
following
apply:
22
a.
A
provision
in
the
general
terms-of-service
agreement
23
that
limits
the
fiduciary’s
access
to
a
digital
asset
of
the
24
account
holder
is
void
against
the
public
policy
of
this
state.
25
b.
A
fiduciary’s
access
under
this
chapter
to
a
digital
26
asset
does
not
violate
the
terms-of-service
agreement
even
27
if
the
agreement
requires
notice
of
a
change
in
the
account
28
holder’s
status.
29
3.
A
choice-of-law
provision
in
a
terms-of-service
30
agreement
is
unenforceable
against
a
fiduciary
acting
31
under
this
chapter
to
the
extent
the
provision
in
the
32
terms-of-service
agreement
provides
a
choice
of
law
that
33
enforces
a
limitation
on
a
fiduciary’s
access
to
a
digital
34
asset,
and
the
limitation
is
void
under
subsection
2.
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4.
Subject
to
fiduciary
duties
imposed
by
the
law
of
1
this
state,
as
to
tangible
personal
property
capable
of
2
receiving,
storing,
processing,
or
sending
a
digital
asset,
a
3
fiduciary
with
authority
over
the
property
of
a
decedent,
ward,
4
principal,
or
settlor,
after
receiving
written
permission
from
5
each
living
account
holder,
owner,
user
authorized
to
modify
6
the
contents
of
the
property
as
identified
on
the
property,
7
ward,
principal,
or
settlor,
has
the
right
to
access
the
8
property
and
any
digital
asset
stored
in
the
property.
9
Sec.
12.
NEW
SECTION
.
633F.9
Compliance.
10
1.
If
a
fiduciary
with
a
right
under
this
chapter
to
access
11
a
digital
asset
of
an
account
holder
complies
with
subsection
12
2,
the
custodian
shall
comply
with
the
fiduciary’s
request
in
a
13
record
for
each
of
the
following:
14
a.
Access
to
the
digital
asset.
15
b.
Control
of
the
digital
asset.
16
c.
A
copy
of
the
digital
asset
to
the
extent
permitted
by
17
copyright
law.
18
2.
If
a
request
under
subsection
1
is
made
by
any
of
the
19
following,
the
following
requirements
apply:
20
a.
If
made
by
a
personal
representative
with
a
right
of
21
access
under
section
633F.4,
the
request
must
be
accompanied
22
by
a
certified
copy
of
the
death
certificate,
the
letters
23
of
appointment
of
the
representative,
and
an
affidavit
for
24
distribution
of
property
made
pursuant
to
section
633.356,
or
25
court
order.
26
b.
If
made
by
a
conservator
or
guardian
with
the
right
of
27
access
under
section
633F.5,
the
request
must
be
accompanied
by
28
a
certified
copy
of
the
court
order
that
grants
the
conservator
29
or
guardian
authority
over
the
digital
asset.
30
c.
If
made
by
an
agent
with
the
right
of
access
under
31
section
633F.6,
the
request
must
be
accompanied
by
an
original
32
or
a
copy
of
the
power
of
attorney
that
authorizes
the
agent
to
33
exercise
authority
over
the
digital
asset
and
a
certification
34
of
the
agent,
under
penalty
of
perjury,
that
the
power
of
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attorney
is
in
effect.
1
d.
If
made
by
a
trustee
with
the
right
of
access
under
2
section
633F.7,
the
request
must
be
accompanied
by
a
certified
3
copy
of
the
trust
instrument
or
a
certification
of
trust
under
4
section
633A.4604
that
authorizes
the
trustee
to
exercise
5
authority
over
the
digital
asset.
6
3.
A
custodian
shall
comply
with
a
request
made
under
7
subsection
1
not
later
than
thirty
days
after
receipt.
If
the
8
custodian
fails
to
comply,
the
fiduciary
may
apply
to
the
court
9
for
an
order
directing
compliance.
If
the
court
finds
that
the
10
custodian
has
willfully
failed
to
comply
with
a
valid
request,
11
the
court
may
award
the
fiduciary
damages
sustained
by
the
12
fiduciary
as
a
result
of
the
willful
noncompliance,
costs
of
13
the
action,
and
reasonable
attorney
fees
as
determined
by
the
14
court.
15
4.
If
a
certification
of
trust
is
provided
under
subsection
16
2,
paragraph
“d”
,
the
certification
need
not
contain
the
17
dispositive
terms
of
the
trust
but
must
contain
each
of
the
18
following
statements
or
information:
19
a.
That
the
trust
exists
and
the
date
the
trust
instrument
20
was
executed.
21
b.
The
identity
of
the
settlor.
22
c.
The
identity
and
address
of
the
trustee.
23
d.
That
there
is
nothing
inconsistent
in
the
trust
with
24
respect
to
the
trustee’s
powers
over
digital
assets.
25
e.
Whether
the
trust
is
revocable
and
the
identity
of
any
26
person
holding
a
power
to
revoke
the
trust.
27
f.
Whether
a
cotrustee
has
authority
to
sign
or
otherwise
28
authenticate,
and
whether
all
or
fewer
than
all
cotrustees
are
29
required
to
exercise
powers
of
the
trustee.
30
g.
That
it
is
signed
or
otherwise
authenticated
by
a
31
trustee.
32
h.
That
the
trust
has
not
been
revoked,
modified,
or
amended
33
in
a
manner
that
would
cause
the
representations
contained
in
34
the
certification
of
trust
to
be
incorrect.
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5.
A
custodian
that
receives
a
certification
of
trust
1
under
subsection
4
may
require
the
trustee
to
provide
copies
2
of
excerpts
from
the
original
trust
instrument
and
later
3
amendments
designating
the
trustee
and
conferring
on
the
4
trustee
the
power
to
act
in
the
pending
transaction.
5
6.
A
custodian
that
acts
in
reliance
on
a
certification
6
of
trust
under
subsection
4
without
knowledge
that
the
7
representations
contained
in
the
certification
are
incorrect
8
is
not
liable
to
any
person
for
so
acting
and
may
assume
9
without
further
inquiry
the
existence
of
facts
stated
in
the
10
certification.
11
7.
A
person
that,
in
good
faith,
enters
into
a
transaction
12
in
reliance
on
a
certification
of
trust
under
subsection
4
may
13
enforce
the
transaction
against
the
trust
property
as
if
the
14
representations
contained
in
the
certification
were
correct.
15
8.
A
person
that
demands
the
trust
instrument
in
addition
to
16
a
certification
of
trust
under
subsection
4
or
excerpts
under
17
subsection
5
is
liable
for
damages
and
reasonable
attorney
fees
18
and
costs
incurred
by
the
trustee
or
trust
beneficiaries,
if
19
the
court
determines
that
the
person
did
not
act
reasonably
in
20
requesting
the
trust
instrument.
21
9.
This
section
does
not
limited
the
right
of
a
person
to
22
obtain
a
copy
of
a
trust
instrument
in
a
judicial
proceeding
23
concerning
the
trust.
24
Sec.
13.
NEW
SECTION
.
633F.10
Custodian
immunity.
25
A
custodian
and
the
custodian’s
officers,
employees,
and
26
agents
are
immune
from
liability
for
an
act
or
omission
done
in
27
good
faith
in
compliance
with
this
chapter.
28
Sec.
14.
NEW
SECTION
.
633F.11
Uniformity
of
application
29
and
construction.
30
In
applying
and
construing
this
chapter,
consideration
must
31
be
given
to
the
need
to
promote
uniformity
of
the
law
with
32
respect
to
its
subject
matter
among
states
that
enact
the
33
uniform
fiduciary
access
to
digital
assets
act.
34
Sec.
15.
NEW
SECTION
.
633F.12
Relation
to
Electronic
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Signatures
in
Global
and
National
Commerce
Act.
1
This
chapter
modifies,
limits,
or
supersedes
the
federal
2
Electronic
Signatures
in
Global
and
National
Commerce
Act,
15
3
U.S.C.
§7001
et
seq.,
but
does
not
modify,
limit,
or
supersede
4
section
101(c)
of
that
Act,
15
U.S.C.
§7001(c),
or
authorize
5
electronic
delivery
of
any
of
the
notices
described
in
section
6
103(b)
of
that
Act,
15
U.S.C.
§7003(b).
7
EXPLANATION
8
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
9
the
explanation’s
substance
by
the
members
of
the
general
assembly.
10
This
bill
relates
to
fiduciary
access
to
digital
assets
and
11
includes
applicability
provisions.
12
The
bill
defines
a
“fiduciary”
as
an
agent
under
a
power
13
of
attorney
pursuant
to
Code
chapter
633B,
a
conservator,
14
guardian,
personal
representative,
or
trustee
as
each
is
15
defined
under
Code
section
633.3,
or
a
trustee
as
defined
in
16
Code
section
633A.1102.
The
bill
defines
a
“digital
asset”
17
as
a
record
that
is
electronic,
excluding
an
underlying
18
asset
or
liability
unless
the
asset
or
liability
is
itself
an
19
electronic
record.
“Digital
asset”
does
not
include
“health
20
information”
or
“individually
identifiable
health
information”
21
as
those
terms
are
defined
under
the
federal
Health
Insurance
22
Portability
and
Accountability
Act.
The
bill
defines
23
“custodian”
as
a
person
that
carries,
maintains,
processes,
24
receives,
or
stores
a
digital
asset
of
an
account
holder.
25
The
bill
provides
that
if
a
fiduciary
presents
a
custodian
26
with
a
valid
written
request,
accompanied
by
the
documentation
27
which
establishes
the
relationship
between
the
account
holder
28
and
the
fiduciary,
the
custodian
shall
provide
the
fiduciary
29
access
to
or
control
of
the
digital
asset.
However,
if
the
30
account
holder
was
not
the
sole
owner
or
authorized
user
of
31
the
account,
the
fiduciary
shall
obtain
authorization
from
32
the
other
owners
or
authorized
users
before
the
custodian
is
33
required
to
provide
the
fiduciary
access
or
control
to
the
34
digital
asset.
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The
bill
provides
that
a
custodian,
whom
in
good
faith,
1
complies
with
a
valid
written
request
is
immune
from
liability
2
for
any
action
done
in
compliance
with
the
bill.
3
The
bill
does
not
apply
to
an
employer’s
digital
assets
which
4
an
employee
or
contractor
regularly
uses
in
the
usual
course
5
of
business.
6
The
bill
provides
that
a
terms-of-service
agreement
which
7
purports
to
limit
a
fiduciary’s
access
to
a
digital
asset
is
8
void
unless
the
account
holder
agreed,
after
the
effective
date
9
of
the
bill,
to
the
provision
by
an
affirmative
act
separate
10
from
assenting
to
the
rest
of
the
terms-of-service
agreement.
11
A
choice-of-law
provision
in
a
terms-of-service
agreement
which
12
designates
law
that
would
enforce
a
limitation
on
a
fiduciary’s
13
access
to
a
digital
asset
is
unenforceable
against
a
fiduciary.
14
The
bill
provides
applicability
provisions.
The
bill
15
applies
to
a
fiduciary
acting
under
a
will
or
an
agent
acting
16
under
a
power
of
attorney
executed
before,
on,
or
after
the
17
effective
date
of
the
bill.
The
bill
applies
to
a
personal
18
representative
acting
for
a
decedent
who
dies
before,
on,
or
19
after
the
effective
date
of
the
bill.
The
bill
applies
to
20
a
conservator
or
guardian
acting
for
a
ward
on
or
after
the
21
effective
date
of
the
bill.
The
bill
applies
to
a
trustee
22
acting
under
a
trust
created
before,
on,
or
after
the
effective
23
date
of
the
bill.
24
The
bill
makes
conforming
changes.
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