§ 30-4-1.5-13 — "Digital asset"; "electronic communication"; "custodian"; "user"; "transaction"

Indiana § 30-4-1.5-13

• Jurisdiction: Indiana
• Art. 4: TRUST CODE
• Ch. 1.5: Electronic Trust Instruments

Text

(a) For purposes of IC 29-3, IC 30-5, and IC 32-39:
(1) the electronic record for an electronic trust instrument is a
"digital asset" as defined in IC 32-39-1-10;
(2) the electronic record for an electronic trust instrument is not
an "electronic communication" as defined in 18 U.S.C. 2510(12)
or IC 32-39-1-12;
(3) the digital or electronic transfer of an electronic record for an
electronic trust instrument between any two (2) persons other than
the settlor and the settlor's attorney is an "electronic
communication" as defined in 18 U.S.C. 2510(12) or IC 32-39-1-12;
(4) a custodian of an electronic trust instrument is also a
"custodian" as defined in IC 32-39-1-8; and
(5) the:
(A) settlor of an electronic trust instrument;
(B) trustee of a trust; or
(C) attorney representing the settlor, trustee, or another person
with authorized possession of or authorized access to the
electronic record for an electronic trust instrument;
is a "user" for purposes of IC 32-39 if the settlor, trustee, attorney,
or other authorized person contracts with another person to store
the electronic record for the electronic trust instrument.
(b) The execution or revocation of an electronic trust instrument
may be a contract of a "transaction in or affecting interstate or foreign
commerce" for purposes of the federal E-sign Act (15 U.S.C. 7001).
(c) The execution or revocation of an electronic trust instrument is
subject to IC 26-2-8 unless there is a conflict between IC 26-2-8 and
any provision contained in this article. In the event of a conflict
between IC 26-2-8 and a provision of this article, the provision in this
article shall control.

Legislative History

As added by P.L.40-2018, SEC.3.