Current through the 2023 Regular Session
Section 72-31-414 - Fiduciary duty and authority(1) The legal duties imposed on a fiduciary charged with managing tangible property apply to the management of digital assets, including: (b) the duty of loyalty; and(c) the duty of confidentiality.(2) A fiduciary's or designated recipient's authority with respect to a digital asset of a user: (a) except as otherwise provided in 72-31-405, is subject to the applicable terms of service;(b) is subject to other applicable law, including copyright law;(c) in the case of a fiduciary, is limited by the scope of the fiduciary's duties; and(d) may not be used to impersonate the user.(3) A fiduciary with authority over the property of a decedent, protected person, principal, or settlor has the right to access any digital asset in which the decedent, protected person, principal, or settlor had a right or interest and that is not held by a custodian or subject to a terms-of-service agreement.(4) A fiduciary acting within the scope of the fiduciary's duties is an authorized user of the property of the decedent, protected person, principal, or settlor for the purpose of applicable computer-fraud and unauthorized-computer-access laws, including 45-6-311.(5) A fiduciary with authority over the tangible, personal property of a decedent, protected person, principal, or settlor: (a) has the right to access the property and any digital asset stored in it; and(b) is an authorized user for the purpose of computer-fraud and unauthorized-computer-access laws, including 45-6-311.(6) A custodian may disclose information in an account to a fiduciary of the user when the information is required to terminate an account used to access digital assets licensed to the user.(7) A fiduciary of a user may request a custodian to terminate the user's account. A request for termination must be in writing, in either physical or electronic form, and accompanied by: (a) if the user is deceased, a certified copy of the death certificate of the user;(b) a certified copy of the letter of appointment of the representative or a collection of personal property affidavit or court order, court order, power of attorney, or trust giving the fiduciary authority over the account; and(c) if requested by the custodian: (i) a number, user name, address, or other unique subscriber or account identifier assigned by the custodian to identify the user's account;(ii) evidence linking the account to the user; or(iii) a finding by the court that the user had a specific account with the custodian, identifiable by the information specified in subsection (7)(c)(i).Added by Laws 2017, Ch. 286,Sec. 14, eff. 10/1/2017. See Laws 2017, Ch. 286, Sec. 20.