§ 15-1-1516 — Custodian compliance and immunity

(1) Not later than sixty days
after receipt of the information required under sections 15-1-1507 to 15-1-1515, a
custodian shall comply with a request under this part 15 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) of this section directing compliance must
contain a finding that compliance is not in violation of 18 U.S.C. sec. 2702, as
amended.

(3) A custodian may notify the user that a request for disclosure or to
terminate an account was made under this part 15.

(4) A custodian may deny a request under this part 15 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 part 15 does not limit a custodian's ability to obtain, or to require a
fiduciary or designated recipient requesting disclosure or termination under this
part 15 to obtain, a court order that:

(a) Specifies that an account belongs to the protected person or principal;

(b) Specifies that there is sufficient consent from the protected person or
principal to support the requested disclosure; and

(c) Contains a finding required by law other than this part 15.

(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 part 15.

Legislative History

Source: L. 2016: Entire part added, (SB 16-088), ch. 71, p. 189, � 1, effective August 10.