C.R.S.
Section 15-1-1515
Fiduciary duty and authority
(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 section 15-1-1504, 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 article 5.5 of title 18, C.R.S.(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 article 5.5 of title 18, C.R.S.(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 letter of appointment of the representative or a small-estate affidavit or court order, court order, power of attorney, or trust giving the fiduciary authority over the account; and(c)
If requested by the custodian:(I)
A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user’s account;(II)
Evidence linking the account to the user; or(III)
A finding by the court that the user had a specific account with the custodian, identifiable by the information specified in subparagraph (I) of this paragraph (c).(8)
A domiciliary foreign personal representative is not required to comply with the provisions of section 15-13-204, or with any other provision of article 13 of this title, as a condition to obtaining disclosure of a digital asset pursuant to this part 15.(9)
A foreign conservator is not required to comply with the provisions of section 15-14-433 as a condition to obtaining disclosure of a digital asset pursuant to this part 15.
Source:
Section 15-1-1515 — Fiduciary duty and authority, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-15.pdf (accessed Oct. 20, 2023).
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