Kentucky Statutes 395A.030 – Applicability
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(1) This chapter applies to:
(a) A fiduciary acting under a will or power of attorney executed before, on, or after July 15, 2020;
(b) A personal representative acting for a decedent who died before, on, or after
July 15, 2020;
(c) A conservatorship proceeding commenced before, on, or after July 15, 2020;
and
(d) A trustee acting under a trust created before, on, or after July 15, 2020.
(2) This chapter applies to a custodian if the user resides in this state or resided in this state at the time of the user’s death.
(3) This chapter does not apply to a digital asset of an employer used by an employee in the ordinary course of the employer’s business.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 63, sec. 2, effective July 15, 2020.
(a) A fiduciary acting under a will or power of attorney executed before, on, or after July 15, 2020;
Terms Used In Kentucky Statutes 395A.030
- Custodian: means a person that carries, maintains, processes, receives, or stores a digital asset of a user. See Kentucky Statutes 395A.020
- Decedent: A deceased person.
- Digital asset: means an electronic record in which an individual has a right or interest. See Kentucky Statutes 395A.020
- Personal representative: means an executor, administrator, special administrator, or person that performs substantially the same function under law of this state other than this chapter. See Kentucky Statutes 395A.020
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- User: means a person that has an account with a custodian. See Kentucky Statutes 395A.020
(b) A personal representative acting for a decedent who died before, on, or after
July 15, 2020;
(c) A conservatorship proceeding commenced before, on, or after July 15, 2020;
and
(d) A trustee acting under a trust created before, on, or after July 15, 2020.
(2) This chapter applies to a custodian if the user resides in this state or resided in this state at the time of the user’s death.
(3) This chapter does not apply to a digital asset of an employer used by an employee in the ordinary course of the employer’s business.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 63, sec. 2, effective July 15, 2020.