§ 30-4-1.5-7 — Maintenance, receipt, and transfer of electronic trust instrument

Indiana § 30-4-1.5-7

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

Text

(a) Any person with the written authorization
of the settlor may maintain, receive, or transfer custody of:
(1) the electronic record associated with an electronic trust
instrument;
(2) a complete converted copy of the electronic trust instrument;
or
(3) any document integrity evidence associated with the electronic
trust instrument.
A settlor may identify and designate an adult individual or other person
as the custodian of the electronic trust instrument within the electronic
record associated with the electronic trust instrument.
(b) A custodian of an electronic trust instrument and any
accompanying document integrity evidence that is logically associated
with the electronic trust instrument has the following responsibilities:
(1) To use best practices to maintain custody of the electronic
record for the electronic trust instrument and any accompanying
document integrity evidence.
(2) To use best practices and commercially reasonable means to:
(A) maintain the privacy and security of the electronic record
associated with an electronic trust instrument; and
(B) exercise reasonable care to guard against unauthorized:
(i) disclosure; and
(ii) alteration or tampering with;
the electronic record.
(3) To maintain electronic and conceptual separation between
different settlors and their respective electronic records and
electronic trust instruments if the custodian maintains custody of
two (2) or more electronic records or electronic trust instruments.
(4) To promptly generate a complete converted copy of each
electronic trust instrument and all accompanying document
integrity evidence after receiving a written request to do so from
a living settlor, the court, or another authorized person.
(5) To promptly respond to a written instruction from the living
settlor or another person with written authorization originating
from the living settlor to transfer custody of the electronic trust
instrument to a successor custodian.
(6) To transfer the entire electronic record of the electronic trust
instrument to a successor custodian upon the receipt of a written
instruction requesting the transfer of the entire electronic record
of an electronic trust instrument to a successor custodian.
(7) To provide an executed delivery receipt to the outgoing
custodian who transfers:
(A) the electronic record;
(B) the electronic trust instrument;
(C) any accompanying document integrity evidence; or
(D) information pertaining to the format in which the electronic
record or electronic trust instrument is received;
if the receiving custodian agrees to assume responsibility for an
electronic record or an electronic trust instrument and all
associated documents from an outgoing custodian.
(8) To perform the following upon the death of the settlor:
(A) To relinquish possession and control of the:
(i) electronic record associated with the settlor's electronic
trust instrument; or
(ii) complete converted copy of the testator's electronic will
(if applicable);
to a person authorized to receive these items under section 8 of
this chapter.
(B) To comply with the court's order requiring the electronic
filing or delivery of the electronic trust instrument and any
accompanying document integrity evidence, as applicable, with
the court.
(C) To provide an accurate copy of:
(i) the electronic record of the settlor's electronic trust
instrument; or
(ii) a complete converted copy of the settlor's electronic trust
instrument;
to any interested person who is entitled to receive a copy under
the terms of the trust or IC 30-4-3-6(b).
(D) To furnish, for any court hearing or matter involving an
electronic trust instrument currently or previously stored by the
custodian, any information requested by the court pertaining to
the custodian's policies, practices, or qualifications as they
relate to the maintenance, production, or storage of electronic
trust instruments.
(c) A proposed successor custodian has no obligation to accept
delivery of an electronic trust instrument from an outgoing custodian
or to accept the responsibility to maintain custody of the electronic
record for an electronic trust instrument. A successor custodian's
execution of a delivery receipt constitutes acceptance of:
(1) the appointment as successor custodian; and
(2) the responsibility to maintain and preserve the accepted
electronic trust instrument.
(d) If a custodian wishes to discontinue custody of an electronic
trust instrument, the custodian must send written notice to the settlor
or, if the settlor's whereabouts are unknown, to the currently serving
trustee or any other person holding written authority from the settlor
and identifiable from custodian records.
(e) A written notice described in subsection (d) must inform the
settlor or other person authorized to act on the settlor's behalf that the
custodian will transfer custody of the electronic trust instrument to a
successor custodian chosen by the current custodian unless a written
instruction is issued to the current custodian by the settlor, current
trustee, or other authorized person not later than thirty (30) days after
the written notice described in subsection (d) was first issued.
(f) If the settlor, current trustee, or other authorized person does not
respond to a written notice described in subsection (d) with a contrary
written instruction by the end of the thirty (30) day period described in
subsection (e), the custodian may dispose of the electronic record
associated with an electronic trust instrument in one (1) of the
following ways:
(1) The current custodian may transfer custody of the electronic
record for the electronic trust instrument to a successor custodian
previously designated in writing by the settlor.
(2) The current custodian may transfer custody of the electronic
trust instrument to a successor custodian selected by the current
custodian.
(3) The current custodian may transmit a complete converted
copy of the electronic trust instrument and an accompanying
affidavit of regularity to the person who received the thirty (30)
day notice described in subsection (e).

Legislative History

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