Virginia Code 64.2-130: Custodian compliance and immunity.
A. Not later than 60 days after receipt of the information required under §§ 64.2-121 through 64.2-129, a custodian shall comply with a request under this article from a fiduciary or designated recipient to disclose digital assets or terminate an account. If the custodian fails to comply, the fiduciary or designated recipient may apply to the court for an order directing compliance.
Terms Used In Virginia Code 64.2-130
- 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. See Virginia Code 64.2-116
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Court: means the circuit court for the county or city having jurisdiction over the fiduciary in matters relating to the content of this article. See Virginia Code 64.2-116
- Custodian: means a person who carries, maintains, processes, receives, or stores a digital asset of a user. See Virginia Code 64.2-116
- Designated recipient: means a person chosen by a user using an online tool to administer digital assets of the user. See Virginia Code 64.2-116
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means an original, additional, or successor personal representative, conservator, guardian, agent, or trustee. See Virginia Code 64.2-116
- Information: means data, text, images, videos, sounds, codes, computer programs, software, databases, or something that is substantially similar. See Virginia Code 64.2-116
- Person: means an individual; estate; business or nonprofit entity; public corporation; government or governmental subdivision, agency, or instrumentality; or other legal entity. See Virginia Code 64.2-116
- Principal: means an individual who grants authority to an agent in a power of attorney. See Virginia Code 64.2-116
- Protected person: includes an individual for whom an application for the appointment of a conservator or guardian is pending. See Virginia Code 64.2-116
- User: means a person that has an account with a custodian. See Virginia Code 64.2-116
B. An order under subsection A directing compliance shall contain a finding that compliance is not in violation of 18 U.S.C. § 2702.
C. A custodian may notify the user that a request for disclosure or to terminate an account was made under this article.
D. A custodian may deny a request under this article from a fiduciary or designated recipient for disclosure of digital assets or to terminate an account if the custodian is aware of any lawful access to the account following the receipt of the fiduciary’s request.
E. This article does not limit a custodian’s ability to obtain or require a fiduciary or designated recipient requesting disclosure or termination under this article to obtain a court order that:
1. Specifies that an account belongs to a protected person or principal;
2. Specifies that there is sufficient consent from the protected person or principal to support the requested disclosure; and
3. Contains a finding required by law other than this article.
F. A custodian and its officer, employees, and agents are immune from liability for an act or omission done in good faith in compliance with this article.