§ 13-A-4.2 — Custodian compliance and immunity

New York § 13-A-4.2

• Jurisdiction: New York
• Law EPT: Estates, Powers & Trusts
• Part 4: Fiduciary Duty and Authority, Compliance and Immunity
• Art. 13-A: Administration of Digital Assets Summary of Article

Text

§ 13-A-4.2 Custodian compliance and immunity\n (a) Not later than sixty days after receipt of the information\nrequired under sections 13-A-3.1 through 13-A-4.1, a custodian shall\ncomply with a request under this article from a fiduciary or designated\nrecipient to disclose digital assets or terminate an account. If the\ncustodian fails to comply, the fiduciary or designated recipient may\napply to the court for an order directing compliance.\n (b) An order under paragraph (a) directing compliance must contain a\nfinding that compliance is not in violation of 18 U.S.C. section 2702,\nas amended.\n (c) A custodian may notify the user that a request for disclosure or\nto terminate an account was made under this article.\n (d) A custodian may deny a request under this article from a fiduciary\nor designated recipient for disclosure of digital assets or to terminate\nan account if the custodian is aware of any lawful access to the account\nfollowing the receipt of the fiduciary's request.\n (e) This article does not limit a custodian's ability to obtain or\nrequire a fiduciary or designated recipient requesting disclosure or\ntermination under this article to obtain a court order which:\n (1) specifies that an account belongs to the ward or principal;\n (2) specifies that there is sufficient consent from the ward or\nprincipal to support the requested disclosure; and\n (3) contains a finding required by law other than this article.\n (f) A custodian and its officers, employees, and agents are immune\nfrom liability for an act or omission done in good faith in compliance\nwith this article.\n