Indiana Code 30-4-1.5-13. “Digital asset”; “electronic communication”; “custodian”; “user”; “transaction”
(1) the electronic record for an electronic trust instrument is a “digital asset” as defined in IC 32-39-1-10;
Terms Used In Indiana Code 30-4-1.5-13
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Contract: A legal written agreement that becomes binding when signed.
- Person: has the meaning set forth in IC 30-2-14-9. See Indiana Code 30-4-1-2
- Settlor: means a person who establishes a trust including the testator of a will under which a trust is created. See Indiana Code 30-4-1-2
- Trust instrument: means an instrument, agreement, or other written document executed by the settlor that contains the terms of the trust, including any amendments to the terms of the trust. See Indiana Code 30-4-1-2
- Trustee: A person or institution holding and administering property in trust.
- Trustee: has the meaning set forth in IC 30-2-14-13. See Indiana Code 30-4-1-2
(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.
As added by P.L.40-2018, SEC.3.