South Carolina Code 62-2-1075. Fiduciary duty and authority
(1) duty of care;
Terms Used In South Carolina Code 62-2-1075
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fiduciary: A trustee, executor, or administrator.
- Fraud: Intentional deception resulting in injury to another.
- Personal property: All property that is not real property.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
(2) duty of loyalty; and
(3) duty of confidentiality.
(B) A fiduciary’s or designated recipient’s authority with respect to a digital asset of a user:
(1) except as otherwise provided in § 62-2-1020, is subject to the applicable terms of service;
(2) in the case of a fiduciary, is subject to other applicable law, including copyright law;
(3) is limited by the scope of the fiduciary’s duties; and
(4) may not be used to impersonate the user.
(C) A fiduciary with authority over the property of a decedent, protected person, principal, or settlor has the right to access any digital asset in which the decedent, protected person, principal, or settlor had a right or interest and that is not held by a custodian or subject to a terms-of-service agreement.
(D) A fiduciary acting within the scope of the fiduciary’s duties is an authorized user of the property of the decedent, protected person, principal, or settlor for the purpose of applicable computer fraud and unauthorized computer access laws, including this state’s law on unauthorized computer access.
(E) A fiduciary with authority over the tangible, personal property of a decedent, protected person, principal, or settlor:
(1) has the right to access the property and any digital asset stored in it; and
(2) is an authorized user for the purpose of computer fraud and unauthorized computer access laws, including this state’s law regarding unauthorized computer access.
(F) A custodian may disclose information in an account to a fiduciary of the user when the information is required to terminate an account used to access digital assets licensed to the user.
(G) A fiduciary of a user may request a custodian to terminate the user’s account. A request for termination must be in writing, in either physical or electronic form, and accompanied by:
(1) if the user is deceased, a certified copy of the death certificate of the user;
(2) a certified copy of the letter of appointment of the representative or a small estate affidavit or court order, power of attorney, or trust giving the fiduciary authority over the account; and
(3) if requested by the custodian:
(a) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user’s account;
(b) evidence linking the account to the user; or
(c) a finding by the court that the user had a specific account with the custodian, identifiable by the information specified in subitem (a).