N.Y. Estates, Powers and Trusts Law 13-A-1 – Definitions
§ 13-A-1 Definitions
Terms Used In N.Y. Estates, Powers and Trusts Law 13-A-1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
In this article the following terms shall have the following meanings:
(a) "Account" means an 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.
(b) "Agent" means a person granted authority to act as attorney-in-fact for the principal under a power of attorney and includes the original agent or any co-agent or successor agent.
(c) "Carries" means engages in the transmission of an electronic communication.
(d) "Catalogue of electronic communications" means information that identifies each person with which a user has had an electronic communication, the time and date of the communication, and the electronic address of the person.
(e) "Content of an electronic communication" means information concerning the substance or meaning of the communication which:
(1) has been sent or received by a user;
(2) is in electronic storage by a custodian providing an electronic-communication service to the public or is carried or maintained by a custodian providing a remote-computing service to the public; and
(3) is not readily accessible to the public.
(f) "Court" means the court in this state having jurisdiction in matters relating to the content of this article.
(g) "Custodian" means a person that carries, maintains, processes, receives, or stores a digital asset of a user.
(h) "Designated recipient" means a person chosen by a user using an online tool to administer digital assets of the user.
(i) "Digital asset" means an electronic record in which an individual has a right or interest. The term does not include an underlying asset or liability unless the asset or liability is itself an electronic record.
(j) "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
(k) "Electronic communication" has the meaning set forth in 18 U.S.C. § 2510(12), as amended.
(l) "Electronic-communication service" means a custodian that provides to a user the ability to send or receive an electronic communication.
(m) "Fiduciary" includes an executor, preliminary executor, administrator, temporary administrator, voluntary administrator, personal representative, guardian, agent, or trustee. This term includes the successor to any fiduciary.
(n) "Guardian" means a person who has been appointed as a guardian by a court of this state pursuant to the surrogate's court procedure act or the mental hygiene law.
(o) "Information" means data, metadata, Internet protocol address, user login information, text, images, videos, sounds, codes, computer programs, software, databases, or similar intelligence of any nature.
(p) "Online tool" means an electronic service provided by a custodian that allows the user, in an agreement distinct from the terms-of-service agreement between the custodian and user, to provide directions for disclosure or nondisclosure of digital assets to a third person.
(q) "Person" means a natural person, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal or commercial entity, board and the state.
(r) "Power of attorney" means a record that grants an agent authority to act in the place of a principal.
(s) "Principal" means an individual who grants authority to an agent in a power of attorney.
(t) "Protective order" means an order appointing a guardian or another order related to management of a ward's property.
(u) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
(v) "Remote-computing service" means a custodian that provides to a user computer-processing services or the storage of digital assets by means of an electronic communications system, as defined in 18 U.S.C. § 2510(14), as amended.
(w) "Terms-of-service agreement" means an agreement that controls the relationship between a user and a custodian.
(x) "Trustee" includes an original additional. and successor trustee, and a co-trustee.
(y) "User" means a person that has an account with a custodian.
(z) "Ward" means an individual for whom a guardian has been appointed by a court of this state pursuant to the surrogate's court procedure act or the mental hygiene law. The term includes an individual for whom an application of guardianship is pending.