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MI HB5370
Bill
Status
2/26/2014
Primary Sponsor
Nancy Jenkins-Arno
Click for details
AI Summary
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Amends the Estates and Protected Individuals Code to add trustee power to exercise control over digital property according to trust terms, subject to applicable terms-of-service agreements.
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Requires digital custodians to provide trustees with access to digital property, ownership transfers, or copies of digital assets upon receipt of a written request accompanied by a certificate of trust.
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Digital custodians must comply with trustee requests within 56 days; if they fail to comply, trustees may petition the court for an order directing compliance.
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Protects digital custodians from liability for actions taken in compliance with the new requirements.
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Bill effectiveness is contingent on the enactment of House Bills 5366, 5367, 5368, and 5369 of the 97th Legislature.
Legislative Description
Probate; trusts; fiduciary access to digital assets act; enact. Amends sec. 7817 of 1998 PA 386 (MCL 700.7817) & adds sec. 7912a. TIE BAR WITH: HB 5366'14, HB 5367'14, HB 5368'14, HB 5369'14
Probate, trusts
Last Action
Referred To Second Reading
10/2/2014