1. This chapter does not change or impair a right of a custodian or a user under a terms-of-service agreement to access and use digital assets of the user.

Terms Used In Iowa Code 638.5

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Custodian: means a person that carries, maintains, processes, receives, or stores a digital asset of a user. See Iowa Code 638.2
  • Designated recipient: means a person chosen by a user using an online tool to administer digital assets of the user. See Iowa Code 638.2
  • Fiduciary: A trustee, executor, or administrator.
  • Fiduciary: means a personal representative, conservator, guardian, agent, or trustee. See Iowa Code 638.2
  • Terms-of-service agreement: means an agreement that controls the relationship between a user and a custodian. See Iowa Code 638.2
  • User: means a person that has an account with a custodian. See Iowa Code 638.2
 2. This chapter does not give a fiduciary or a designated recipient any new or expanded rights other than those held by the user for whom, or for whose estate, the fiduciary or a designated recipient acts or represents.
 3. A fiduciary’s or designated recipient’s access to digital assets may be modified or eliminated by a user, by federal law, or by a terms-of-service agreement if the user has not provided direction under section 638.4.
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