§ 638.16 — Custodian compliance and immunity

Iowa § 638.16

• Jurisdiction: Iowa
• Title XV: JUDICIAL BRANCH AND JUDICIAL PROCEDURES
• Ch. 638: FIDUCIARY ACCESS TO DIGITAL ASSETS

Text

1. Not later than sixty days after receipt of the information required under sections 638.7
through638.15, acustodianshallcomplywitharequestunderthischapterfromafiduciaryor
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 directing compliance must contain a finding that
compliance is not in violation of 18 U.S.C. §2702.
3. A custodian may notify the user that a request for disclosure or to terminate an account
was made under this chapter.
4. A custodian may deny a request under this chapter 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 chapter does not limit a custodian’s ability to obtain or require a fiduciary or
designated recipient requesting disclosure or termination under this chapter to obtain a
court order which finds all of the following:
a. That the account belongs to the user.
b. That there is sufficient consent from the user to support the requested disclosure.
c. Any specific factual finding required by any applicable law other than this chapter.
6. A custodian and the custodian’s officers, employees, and agents are immune from
liability for an act or omission done in good faith in compliance with this chapter.