SB 194 — AN ACT relating to the Uniform Fiduciary Access to Digital Assets Act. Establish KRS Chapter 395A and create new sections thereof to enact the Uniform Fiduciary Access to Digital Assets Act to establish a framework for the management and disposition of digital assets upon death or incapacitation; define terms; set forth the applicability of the chapter to fiduciaries, agents, personal representatives, conservators, guardians, and trustees; provide that the chapter does not apply to a digital asset of an employer that is used by an employee in the ordinary course of business; enumerate the rights and limitations of a personal representative of a decedent to access the electronic communications or digital assets of the decedent; permit a court to grant a conservator or guardian the right to access electronic communications of a protected person after a hearing conducted pursuant to applicable state law; enumerate the rights and limitations of an agent to access a principal's electronic communications and digital assets; enumerate the rights and limitations of a trustee, or successor of a trustee, to access the electronic communications and digital assets of an account holder or successor account holder; provide that a fiduciary who is an account holder or has the right to access an account holder's digital assets may do so, subject to certain limitations; provide that an account holder may limit a fiduciary’s access to any digital asset by affirmative act, separate from his or her assent to other provisions, in a terms-of-service agreement; specify when a provision in a terms-of-service agreement is void as against public policy of Kentucky; provide that a choice-of-law provision in an agreement is unenforceable to the extent that it limits a fiduciary’s access to a digital asset; allow a fiduciary with authority over the property of a decedent, protected person, principal, or settlor to access tangible property containing digital assets; specify the documents or instruments that a fiduciary must provide to a custodian in order to access, control, or copy a digital asset; provide that a custodian must comply with a request made within 60 days of receipt of the request; require that the provisions of the chapter be applied and construed so as to promote uniformity of law among the states; establish conformity with federal requirements related to electronic signatures and records; provide that the chapter may be cited as the Uniform Fiduciary Access to Digital Assets Act.

Last action February 23, 2018 — To Judiciary (S)

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