On Apr. 23, OKL LEG enacted bill re communications, account access.
OKL LEG enacted bill HB 3778, communications and access to digital asset accounts.
Creates new statute entitled, Revised uniform fiduciary access to digital assets act.
Adds to Title 58, Probate procedure sections OKL LEG 58-3101 to OKL LEG 58-3119.
Key Provisions
Applies to fiduciary, guardianship or trustees with responsibilities in role on or after Nov. 1, 2024; also, personal representative of a decedent died on/after Nov. 1, 2024.
Custodian may at his/her own discretion provide to a fiduciary, trustee or designated representative access to a client digital asset account, either full or partial access.
Give custodian authority not to disclose all or some of the digital assets if segregation of the digital assets imposes or would impose an undue burden on the custodian.
Stipulate conditions for a custodian to provide electronic communications' (list of said communications and their content) associated with the client digital asset account.
Such e-communications may be provided to the fiduciary, trustee or designated representative unless court order, power of attorney, or principal directs otherwise.
Legislative History
On Feb. 5, 2024, bill was introduced in House; on Mar. 12, 2024, bill passed House.
On Mar. 13, 2024, bill introduced in the Senate; on Apr. 17, 2024, bill passed Senate.
On Apr. 18, 2024, bill sent to governor; on Apr. 23, 2024, bill approved by governor.
Effectiveness
Provisions of bill HB 3778 regarding digital asset accounts effective on Nov. 1, 2024.
