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Home » US Law » 2022 South Dakota Codified Laws » Title 55 - Fiduciaries and Trusts » Chapter 19 - Uniform Fiduciary Access To Digital Assets Act

Section 55-19-1 – Definitions.

55-19-1. Definitions. Terms used in this chapter mean: (1)”Account,” any arrangement under a terms-of-service agreement in which a custodian carries, maintains, processes, receives, or stores a digital asset of the user or provides goods or services to the user; (2)”Agent,” any attorney-in-fact granted authority under a power of attorney pursuant to chapter 59-12 or nondurable […]

Section 55-19-10 – Disclosure of other digital assets of principal.

55-19-10. Disclosure of other digital assets of principal. Unless otherwise ordered by the court, directed by the principal, or provided by a power of attorney, a custodian shall disclose to an agent with specific authority over digital assets or general authority to act on behalf of a principal a catalogue of electronic communications sent or […]

Section 55-19-14 – Disclosure of assets to conservator of protected person.

55-19-14. Disclosure of assets to conservator of protected person. After an opportunity for a hearing under chapter 29A-5, a court may grant a conservator access to the digital assets of a protected person. Unless otherwise ordered by the court or directed by the user, a custodian shall disclose to a conservator the catalogue of electronic […]

Section 55-19-15 – Suspension or termination of account of protected person.

55-19-15. Suspension or termination of account of protected person. A conservator with general authority to manage the assets of a protected person may request a custodian of the digital assets of the protected person to suspend or terminate an account of the protected person for good cause. A request made under this section must be […]

Section 55-19-16 – Fiduciary duties.

55-19-16. Fiduciary duties. The legal duties imposed on a fiduciary charged with managing tangible property apply to the management of digital assets, including: the duty of care, the duty of loyalty, and the duty of confidentiality. Source: SL 2017, ch 209, §16.

Section 55-19-17 – Fiduciary authority generally.

55-19-17. Fiduciary authority generally. A fiduciary’s or designated recipient’s authority with respect to a digital asset of a user: (1)Is subject to the applicable terms of service except as otherwise provided in §55-19-4; (2)Is subject to other applicable law, including copyright law; (3)Is limited by the scope of the fiduciary’s duties, if a fiduciary; and […]

Section 55-19-2 – Applicability generally.

55-19-2. Applicability generally. The provisions of this chapter apply to: (1)Any fiduciary acting under a will or power of attorney executed before, on, or after July 1, 2017; (2)Any personal representative acting for a decedent who died before, on, or after July 1, 2017; (3)Any conservatorship proceeding commenced before, on, or after July 1, 2017; […]

Section 55-19-20 – Fiduciary right of access to digital asset.

55-19-20. Fiduciary right of access to digital asset. A fiduciary with authority over the tangible, personal property of a decedent, protected person, principal, or settlor has the right to access the property and any digital asset stored in it, and is an authorized user for the purpose of any computer fraud or unauthorized computer access […]

Section 55-19-22 – Request for termination of user’s account.

55-19-22. Request for termination of user’s account. The 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: (1)If the user is deceased, a certified copy of the death certificate of the user; (2)A certified […]

Section 55-19-23 – Custodian compliance.

55-19-23.Custodian compliance. A custodian shall comply with a request under this chapter from a fiduciary or designated recipient to disclose digital assets or terminate an account not later than sixty days after receipt of information required under this chapter. A fiduciary or designated recipient may apply to a court for an order directing compliance if […]

Section 55-19-24 – Custodian notice to user.

55-19-24. Custodian notice to user. A custodian may notify the user that a request for disclosure or to terminate an account was made under this chapter. Source: SL 2017, ch 209, §24.

Section 55-19-25 – Denial by custodian of request for disclosure or termination.

55-19-25. Denial by custodian of request for disclosure or termination. A custodian may deny a request under this chapter from a fiduciary or designated recipient for disclosure of digital assets or to terminate an account if the custodian is aware of any lawful access to the account following the receipt of the fiduciary’s request. Source: […]

Section 55-19-26 – Custodian’s ability to require court order.

55-19-26. Custodian’s ability to require court order. This chapter does not limit a custodian’s ability to obtain or require a fiduciary or designated recipient requesting disclosure or termination under this chapter to obtain a court order that specifies that an account belongs to the protected person or principal, specifies that there is sufficient consent from […]

Section 55-19-27 – Custodian immunity.

55-19-27. Custodian immunity. A custodian and its officers, employees, and agents are immune from liability for an act or omission done in good faith in compliance with this chapter. Source: SL 2017, ch 209, §27.