Section 521A.15 — Fiduciary Duty And Authority.
521A.15 FIDUCIARY DUTY AND AUTHORITY. (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. (b) A fiduciary’s or designated recipient’s authority with respect to a digital asset […]
Section 521A.16 — Custodian Compliance And Immunity.
521A.16 CUSTODIAN COMPLIANCE AND IMMUNITY. (a) Not later than 60 days after receipt of the information required under sections 521A.07 to 521A.15, a custodian shall comply with a request under this chapter from a fiduciary or designated recipient to disclose digital assets or terminate an account. If the custodian fails to comply, the fiduciary or […]
Section 521A.17 — Uniformity Of Application And Construction.
521A.17 UNIFORMITY OF APPLICATION AND CONSTRUCTION. In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. History: 2016 c 135 art 2 s 18
Section 521A.18 — Relation To Electronic Signatures In Global And National Commerce Act.
521A.18 RELATION TO ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT. This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, United States Code, title 15, section 7001 et seq., but does not modify, limit, or supersede section 101(c) of that act, United States Code, title 15, section 7001(c), or […]
Section 521A.19 — Severability.
521A.19 SEVERABILITY. If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable. History: 2016 […]
Section 521A.04 — User Direction For Disclosure Of Digital Assets.
521A.04 USER DIRECTION FOR DISCLOSURE OF DIGITAL ASSETS. (a) A user may use an online tool to direct the custodian to disclose to a designated recipient or not to disclose some or all of the user’s digital assets, including the content of electronic communications. If the online tool allows the user to modify or delete […]
Section 523.01 — Authorization.
523.01 AUTHORIZATION. A person who is a competent adult may, as principal, designate another person or an authorized corporation as the person’s attorney-in-fact by a written power of attorney. The power of attorney is validly executed when it is dated and signed by the principal and, in the case of a signature on behalf of […]
Section 521A.05 — Terms-of-service Agreement.
521A.05 TERMS-OF-SERVICE AGREEMENT. (a) This chapter does not change or impair a right of a custodian or a user under a terms-of-service agreement to access and use digital assets of the user. (b) This chapter does not give a fiduciary or designated recipient any new or expanded rights other than those held by the user […]
Section 523.02 — Common Law, Preexisting And Foreign Powers Of Attorney.
523.02 COMMON LAW, PREEXISTING AND FOREIGN POWERS OF ATTORNEY. A written power of attorney is a validly executed power of attorney for the purposes of sections 523.01 to 523.24, and is subject to the provisions of sections 523.01 to 523.24, if it is validly created pursuant to: (1) the law of Minnesota as it existed […]
Section 521A.06 — Procedure For Disclosing Digital Assets.
521A.06 PROCEDURE FOR DISCLOSING DIGITAL ASSETS. (a) When disclosing digital assets of a user under this chapter, the custodian may, at its sole discretion: (1) grant a fiduciary or designated recipient full access to the user’s account; (2) grant a fiduciary or designated recipient partial access to the user’s account sufficient to perform the tasks […]