Florida Statutes 740.06 – Custodian compliance and immunity
Current as of: 2023 | Check for updates
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(1) Not later than 60 days after receipt of the information required under ss. 740.006–740.04, a custodian shall comply with a request under this chapter 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) directing compliance must contain a finding that compliance is not in violation of 18 U.S.C. § 2702.
(3) A custodian may notify a user that a request for disclosure or to terminate an account was made under this chapter.
(4) 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.
(5) 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:
(a) Specifies that an account belongs to the ward or principal;
Terms Used In Florida Statutes 740.06
- Account: means an arrangement under a terms-of-service agreement in which the custodian carries, maintains, processes, receives, or stores a digital asset of the user or provides goods or services to the user. See Florida Statutes 740.002
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Court: means a circuit court of this state. See Florida Statutes 740.002
- Custodian: means a person that carries, maintains, processes, receives, or stores a digital asset of a user. See Florida Statutes 740.002
- Designated recipient: means a person chosen by a user through an online tool to administer digital assets of the user. See Florida Statutes 740.002
- Fiduciary: means an original, additional, or successor personal representative, guardian, agent, or trustee. See Florida Statutes 740.002
- Fiduciary: A trustee, executor, or administrator.
- Information: means data, text, images, videos, sounds, codes, computer programs, software, databases, or the like. See Florida Statutes 740.002
- Principal: means an individual who grants authority to an agent in a power of attorney. See Florida Statutes 740.002
- User: means a person that has an account with a custodian. See Florida Statutes 740.002
- Ward: means an individual for whom a guardian has been appointed. See Florida Statutes 740.002
(b) Specifies that there is sufficient consent from the ward or principal to support the requested disclosure; and
(c) Contains a finding required by a law other than this chapter.
(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 chapter.