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OH HB602
Bill
Status
10/5/2016
Primary Sponsor
Robert Cupp
Click for details
AI Summary
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Adopts the Revised Uniform Fiduciary Access to Digital Assets Act, establishing rules for fiduciaries (agents, personal representatives, trustees, guardians) to access and manage digital assets of principals, decedents, and wards
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Grants agents authority to access digital assets when a power of attorney includes general authority, including electronic communications, accounts, and tangible property containing digital assets
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Allows users to direct custodians regarding disclosure of digital assets through online tools or written instruments (wills, trusts, powers of attorney); online tool directions override conflicting written directions
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Establishes procedures for personal representatives, agents, trustees, and guardians to request disclosure of digital assets from custodians, with custodians required to comply within 60 days or fiduciaries may seek court orders
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Protects fiduciaries acting within scope of duties as authorized users under computer fraud laws and subjects them to duties of care, loyalty, and confidentiality; custodians are immune from liability for good faith compliance
Legislative Description
Enact Fiduciary Access to Digital Assets Act
Commerce
Last Action
Refer to Committee: Judiciary
11/10/2016