Revised Uniform Fiduciary Access to Digital Assets Act

ORS 119.006
Definitions for ORS 119.006 to 119.081


As used in ORS 119.006 (Definitions for ORS 119.006 to 119.081) to 119.081 (Effect on other laws):

(1)

“Account” means an arrangement under a terms-of-service agreement in which a custodian carries, maintains, processes, receives or stores a digital asset of the user or provides goods or services to the user.

(2)

“Agent” means a person designated as an agent under a power of attorney in accordance with ORS 127.005 (When power of attorney in effect) to 127.045 (Duty of agent under power of attorney).

(3)

“Carries” means engages in the transmission of an electronic communication.

(4)

“Catalog of electronic communications” means information that identifies each person with which a user has had an electronic communication, the time and date of the communication and the electronic address of the person.

(5)

“Conservator” has the meaning given that term in ORS 125.005 (Definitions).

(6)

“Content of an electronic communication” means information concerning the substance or meaning of the communication that:

(a)

Has been sent or received by a user;

(b)

Is in electronic storage by a custodian providing an electronic communication service to the public or is carried or maintained by a custodian providing a remote computing service to the public; and

(c)

Is not readily accessible to the public.

(7)

“Court” means a circuit court in this state.

(8)

“Custodian” means a person that carries, maintains, processes, receives or stores a digital asset of a user.

(9)

“Designated recipient” means a person chosen by a user using an online tool to administer digital assets of the user.

(10)

“Digital asset” means an electronic record in which an individual has a right or interest. “Digital asset” does not include an underlying asset or liability unless the asset or liability is itself an electronic record.

(11)

“Electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic or similar capabilities.

(12)

“Electronic communication” has the meaning set forth in 18 U.S.C. 2510(12).

(13)

“Electronic communication service” means a custodian that provides to a user the ability to send or receive an electronic communication.

(14)

“Fiduciary” means a person that is an original, additional or successor personal representative, conservator, agent or trustee.

(15)

“Information” means data, text, images, videos, sounds, codes, computer programs, software, databases and similar intelligence of any nature.

(16)

“Online tool” means an electronic service provided by a custodian that allows the user, in an agreement distinct from the terms-of-service agreement between the custodian and the user, to provide directions for disclosure or nondisclosure of digital assets to a third person.

(17)

“Person” means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency or instrumentality or other legal entity.

(18)

“Personal representative” means an executor, administrator or special administrator, or a person legally authorized to perform substantially the same functions.

(19)

“Power of attorney” means a record that grants an agent authority to act in the place of a principal.

(20)

“Principal” means an individual who grants authority to an agent in a power of attorney.

(21)

“Protected person” means an individual for whom a conservator has been appointed. “Protected person” includes an individual for whom an application for the appointment of a conservator is pending.

(22)

“Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

(23)

“Remote computing service” means a custodian that provides to a user computer processing services or the storage of digital assets by means of an electronic communications system as defined in 18 U.S.C. 2510(14).

(24)

“Terms-of-service agreement” means an agreement that controls the relationship between a user and a custodian.

(25)

“Trustee” means a fiduciary with legal title to property under an agreement or declaration that creates a beneficial interest in another person. “Trustee” includes a successor trustee.

(26)

“User” means a person that has an account with a custodian.

(27)

“Will” includes a codicil, testamentary instrument that only appoints an executor and instrument that revokes or revises a testamentary instrument. [2016 c.19 §2]
Note: Section 3, chapter 19, Oregon Laws 2016, provides:
Sec. 3. (1) Sections 2 to 18 of this 2016 Act [119.006 (Definitions for ORS 119.006 to 119.081) to 119.081 (Effect on other laws)] apply to:

(a)

A fiduciary acting under a will or power of attorney executed before, on or after the effective date of this 2016 Act [January 1, 2017];

(b)

A personal representative acting for a decedent who died before, on or after the effective date of this 2016 Act;

(c)

A conservatorship proceeding commenced before, on or after the effective date of this 2016 Act; and

(d)

A trustee acting under a trust created before, on or after the effective date of this 2016 Act.

(2)

Sections 2 to 18 of this 2016 Act apply to a custodian if the user resides in this state or resided in this state at the time of the user’s death.

(3)

Sections 2 to 18 of this 2016 Act do not apply to a digital asset of an employer used by an employee in the ordinary course of the employer’s business. [2016 c.19 §3]

Source

Last accessed
Jun. 26, 2021