2020 Colorado Revised Statutes
Title 15 - Probate, Trusts, And Fiduciaries
Article 1. Fiduciary
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:

1. The duty of care;

2. 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:

1. Except as otherwise provided in section 15-1-1504, is subject to the applicable termsof service;

2. Is subject to other applicable law, including copyright law;

3. 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 ofthe 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:

1. Has the right to access the property and any digital asset stored in it; and

2. Is an authorized user for the purpose of computer-fraud and unauthorized-computeraccess 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 whenthe 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. Arequest 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 copy of the letter of appointment of the representative or a small-estateaffidavit or court order, court order, power of attorney, or trust giving the fiduciary authority over the account; and

3. 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 (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 15-14433 as a condition to obtaining disclosure of a digital asset pursuant to this part 15.

Source: L. 2016: Entire part added, (SB 16-088), ch. 71, p. 187, § 1, effective August 10. 15-1-1516. Custodian compliance and immunity. (1) Not later than sixty days after receipt of the information required under sections 15-1-1507 to 15-1-1515, a custodian shall comply with a request under this part 15 from a fiduciary or designated recipient to disclose digital assets or terminate an account. If the custodian fails to comply, the fiduciary or designated recipient may apply to the court for an order directing compliance.

2. An order under subsection (1) of this section directing compliance must contain afinding that compliance is not in violation of 18 U.S.C. sec. 2702, as amended.

3. A custodian may notify the user that a request for disclosure or to terminate an account was made under this part 15.

4. A custodian may deny a request under this part 15 from a fiduciary or designatedrecipient 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.

5. This part 15 does not limit a custodian's ability to obtain, or to require a fiduciary ordesignated recipient requesting disclosure or termination under this part 15 to obtain, a court order that:

1. Specifies that an account belongs to the protected person or principal;

2. Specifies that there is sufficient consent from the protected person or principal tosupport the requested disclosure; and

3. Contains a finding required by law other than this part 15.

(6) 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 part 15.

Source: L. 2016: Entire part added, (SB 16-088), ch. 71, p. 189, § 1, effective August 10.