Kansas Statutes 58-4815. Fiduciary duty and authority
Terms Used In Kansas Statutes 58-4815
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Conservatee: means a person who has a conservator. See Kansas Statutes 77-201
- Decedent: A deceased person.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fiduciary: A trustee, executor, or administrator.
- Fraud: Intentional deception resulting in injury to another.
- 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
- Property: includes personal and real property. See Kansas Statutes 77-201
- Ward: means a person who has a guardian. See Kansas Statutes 77-201
(a) 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
(3) the duty of confidentiality.
(b) A fiduciary’s or designated recipient’s authority with respect to a digital asset of a user:
(1) Except as otherwise provided in Kan. Stat. Ann. § 58-4804, and amendments thereto, is subject to the applicable terms of service;
(2) is subject to other applicable laws, including copyright laws;
(3) in the case of a fiduciary, is limited by the scope of the fiduciary’s duties; and
(4) may not be used to impersonate the user.
(c) A fiduciary with authority over the property of a decedent, ward or conservatee, principal or settlor has the right to access any digital asset in which the decedent, ward or conservatee, principal or settlor had a right or interest and that is not held by a custodian or subject to a terms-of-service agreement.
(d) A fiduciary acting within the scope of the fiduciary’s duties is an authorized user of the property of the decedent, ward or conservatee, principal or settlor for the purpose of applicable computer fraud and unauthorized computer access laws, including Kan. Stat. Ann. § 21-5839, and amendments thereto.
(e) A fiduciary with authority over the tangible, personal property of a decedent, ward or conservatee, 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 computer access laws, including Kan. Stat. Ann. § 21-5839, and amendments thereto.
(f) 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.
(g) 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:
(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 estate affidavit or court order, court order, power of attorney or trust giving the fiduciary authority over the account; and
(3) if requested by the custodian:
(A) A number, username, address or other unique subscriber or account identifier assigned by the custodian to identify the user’s account;
(B) evidence linking the account to the user; or
(C) a finding by the court that the user had a specific account with the custodian, identifiable by the information specified in subparagraph (A).