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IN SB0182
Bill
AI Summary
Senate Bill No. 182 Summary
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Enacts the Revised Uniform Fiduciary Access to Digital Assets Act, establishing a framework for fiduciaries (attorneys in fact, guardians, personal representatives, trustees) to access digital assets of users who reside or resided in Indiana.
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Allows users to direct custodians regarding disclosure of digital assets through online tools, with directions made through modifiable online tools overriding contrary provisions in wills, trusts, powers of attorney, or other records.
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Requires custodians to disclose digital assets to personal representatives of deceased users, attorneys in fact with appropriate authority, trustees, and guardians under specified circumstances, with disclosure required within 60 days of receiving complete requests.
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Provides that fiduciaries managing digital assets have the same legal duties (care, loyalty, confidentiality) as those managing tangible property, and allows fiduciaries to request account termination on behalf of users.
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Grants custodians immunity from liability for good faith compliance with the act and makes distributees in unsupervised estate administration have the same digital asset access rights as personal representatives.
Legislative Description
Revised Uniform Fiduciary Access to Digital Assets Act. Enacts the Revised Uniform Fiduciary Access to Digital Assets Act of the National Conference of Commissioners on Uniform State Laws. Defines "digital asset" as an electronic record in which an individual has a right or interest. Defines "custodian" as a person that carries, maintains, processes, receives, or stores a digital asset. Defines "user" as a person for whom a custodian carries, maintains, processes, receives, or stores the digital asset. Defines "fiduciary" as an attorney in fact, guardian, personal representative, or trustee of a user. Authorizes a user to use an online tool
Last Action
First reading: referred to Committee on Civil Law
1/6/2016