New Jersey Statutes 3B:14-61.16. Custodian compliance and immunity
Terms Used In New Jersey Statutes 3B:14-61.16
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: includes executors, general administrators of an intestate estate, administrators with the will annexed, substituted administrators, substituted administrators with the will annexed, guardians, substituted guardians, trustees, substituted trustees and, unless restricted by the subject or context, temporary administrators, administrators pendente lite, administrators ad prosequendum, administrators ad litem and other limited fiduciaries. See New Jersey Statutes 3B:1-1
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
a. Not later than 60 days after receipt of the information required under sections 7 through 15 of this act, a custodian shall comply with a request under this act 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.
b. An order under subsection a. of this section directing compliance must contain a finding that compliance is not in violation of 18 U.S.C. § 2702.
c. A custodian may notify the user that a request for disclosure or to terminate an account was made under this act.
d. A custodian may deny a request under this act 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.
e. This act does not limit a custodian’s ability to obtain or require a fiduciary or designated recipient requesting disclosure or termination under this act to obtain a court order which:
(1) specifies that an account belongs to the incapacitated person or principal;
(2) specifies that there is sufficient consent from the incapacitated person or principal to support the requested disclosure; and
(3) contains a finding required by law other than this act.
f. 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 act.
L.2017, c.237, s.16.