Michigan Laws > Chapter 700 > Act 59 of 2016 – Fiduciary Access to Digital Assets Act
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Terms Used In Michigan Laws > Chapter 700 > Act 59 of 2016 - Fiduciary Access to Digital Assets Act
- Account: means an arrangement under a terms-of-service agreement in which the digital custodian carries, maintains, processes, receives, or stores a digital asset of the user or provides goods or services to the user. See Michigan Laws 700.1002
- 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.
- Agent: means an attorney-in-fact granted authority under a durable or nondurable power of attorney. See Michigan Laws 700.1002
- 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.
- Carries: means engaging in the transmission of an electronic communication. See Michigan Laws 700.1002
- 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. See Michigan Laws 700.1002
- Conservator: means a person that is appointed by a court to manage all or part of the estate of a protected person. See Michigan Laws 700.1002
- Content of an electronic communication: means information concerning the substance or meaning of an electronic communication to which all of the following apply:
(i) The information has been sent or received by a user. See Michigan Laws 700.1002Court: means the probate court or, when applicable, the circuit court. See Michigan Laws 700.1002 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Decedent: A deceased person. Designated recipient: means a person chosen by a user using an online tool to administer digital assets of the user. See Michigan Laws 700.1002 Developmental disability: means that term as defined in section 100a of the mental health code, 1974 PA 258, MCL 330. See Michigan Laws 700.1002 Digital asset: means an electronic record in which a user has a right or interest. See Michigan Laws 700.1002 Digital custodian: means a person that carries, maintains, processes, receives, or stores a digital asset of a user. See Michigan Laws 700.1002 Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Michigan Laws 700.1002 Electronic communication: means that term as defined in 18 USC 2510. See Michigan Laws 700.1002 Electronic communication service: means a digital custodian that provides to a user the ability to send or receive an electronic communication. See Michigan Laws 700.1002 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: means a person who is an original, additional, or successor personal representative, conservator, agent, or trustee. See Michigan Laws 700.1002 Fiduciary: A trustee, executor, or administrator. Guardian: means that term as defined in section 1104 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 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. in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q Information: means data, text, images, videos, sounds, codes, computer programs, software, databases, or the like. See Michigan Laws 700.1002 Legally incapacitated individual: means that term as defined in section 1105 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Letters: means that term as described in section 1105 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Minor: means that term as defined in section 1106 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Online tool: means an electronic service provided by a digital custodian that allows the user, in an agreement distinct from the terms-of-service agreement between the digital custodian and user, to provide directions for disclosure or nondisclosure of digital assets to a third person. See Michigan Laws 700.1002 Person: means that term as defined in section 1106 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Personal property: All property that is not real property. Personal representative: means that term as defined in section 1106 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Power of attorney: means a record that grants an agent authority to act in the place of a principal. See Michigan Laws 700.1002 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 Principal: means a person that grants authority to an agent in a power of attorney. See Michigan Laws 700.1002 Probate: Proving a will Proceeding: means that term as defined in section 1106 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Protected individual: means that term as defined in section 1106 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Protected person: includes any of the following:
(i) A protected individual. See Michigan Laws 700.1002Record: 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. See Michigan Laws 700.1002 Remote-computing service: means a digital custodian that provides to a user computer processing services or the storage of digital assets by means of an electronic communications system. See Michigan Laws 700.1002 Settlor: means that term as defined in section 7103 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Special fiduciary: means a special fiduciary appointed by the court under sections 1308, 1309, 7704, 7815, and 7901 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Terms-of-service agreement: means an agreement that controls the relationship between a user and a digital custodian. See Michigan Laws 700.1002 Trust: means that term as defined in section 1107 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Trustee: means that term as defined in section 1107 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1002 Trustee: A person or institution holding and administering property in trust. User: means a person that has an account with a digital custodian. See Michigan Laws 700.1002