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§ 15-614. Fiduciary duty and authority

West's Annotated Code of MarylandEstates and TrustsEffective: April 11, 2017

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 15. Fiduciaries (Refs & Annos)
Subtitle 6. Maryland Fiduciary Access to Digital Assets Act (Refs & Annos)
Effective: April 11, 2017
MD Code, Estates and Trusts, § 15-614
§ 15-614. Fiduciary duty and authority
Fiduciary duties
(a) The legal duties imposed on a fiduciary charged with managing tangible property apply to the management of digital assets, including:
(1) The duty of care;
(2) The duty of loyalty; and
(3) The duty of confidentiality.
Limitation on fiduciary's authority
(b) A fiduciary's or designated recipient's authority with respect to a digital asset of a user:
(1) Except as otherwise provided in § 15-603 of this subtitle, is subject to the applicable terms of service;
(2) Is subject to other applicable law, including copyright law;
(3) In the case of a fiduciary, is limited by the scope of the fiduciary's duties; and
(4) May not be used to impersonate the user.
Right to access digital asset
(c) A fiduciary with authority over the property of a decedent, protected person, principal, or settlor has the right to access a 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.
Authorized user for purpose of computer-fraud and unauthorized-computer-access laws
(d) 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 § 7-302 of the Criminal Law Article.
Authority over tangible, personal property
(e) A fiduciary with authority over the tangible, personal property of a decedent, protected person, principal, or settlor:
(1) Has the right to access the property and the digital assets stored in it; and
(2) Is an authorized user for the purpose of computer-fraud and unauthorized-computer-access laws, including § 7-302 of the Criminal Law Article.
Disclosure of information required to terminate account
(f) 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.
Termination of account
(g)(1) A fiduciary of a user may request a custodian to terminate the user's account.
(2) The fiduciary shall submit the request for termination to the custodian in writing, in either physical or electronic form, accompanied by:
(i) If the user is deceased, a copy of the death certificate of the user;
(ii) A copy of the letters of administration of the personal representative or court order appointing a special administrator, power of attorney, or trust granting the fiduciary authority over the account; and
(iii) If requested by the custodian:
1. A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user's account;
2. Evidence linking the account to the user; or
3. A finding by the court that the user had a specific account with the custodian, identifiable by the information specified in item 1 of this item.

Credits

Added by Acts 2016, c. 364, § 1, eff. Oct. 1, 2016; Acts 2016, c. 365, § 1, eff. Oct. 1, 2016. Amended by Acts 2017, c. 62, § 1, eff. April 11, 2017.

Editors' Notes

HISTORICAL AND STATUTORY NOTES
2017 Legislation
Acts 2017, c. 62, § 1, in (b)(1), substituted “§ 15-603 of this subtitle” for “item (4) of this subsection”.
MD Code, Estates and Trusts, § 15-614, MD EST & TRST § 15-614
Current through all legislation from the 2019 Regular Session of the General Assembly.
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