395A.150 Fiduciary duty and authority.
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/ky/chapter-395a/395a-150A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The legal duties imposed on a fiduciary charged with managing tangible property
apply to the management of digital assets, including:
(a)The duty of care;
(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 KRS 395A.040, 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
KRS 434.840 to 434.860.
(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 KRS 434.840 to 434.860.
(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 order of appointment of the personal representative, the
order dispensing with administration pursuant to KRS 395.455, power of
attorney, trust, or other court order giving the fiduciary authority over the
account; and
(c)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 subparagraph 1. of
this paragraph.