Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 06, 2016 |
referred to judiciary |
Jun 02, 2015 |
referred to judiciary |
Senate Bill S5775
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Judiciary Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2015-S5775 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7869
- Current Committee:
- Senate Judiciary
- Law Section:
- Estates, Powers and Trusts Law
- Laws Affected:
- Amd §11-1.1, EPT L
2015-S5775 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5775 TITLE OF BILL: An act to amend the estates, powers and trusts law, in relation to fiduciaries' powers This is one in a series of measures being introduced at the request of the Chief Administrative Judge upon the recommendation of her Surrogate's Court Advisory Committee. The powers, duties, obligations, discretion and limitations of a fiduciary are long established in New York law (Genesee Valley Trust Company v. Newborn, 168 Misc. 703(S. Ct., Monroe Co., 1938)). Current law in EPTL 11-1.1(b) sets forth the authority of a fiduciary. As stated therein, "(I)in the absence of contrary or limiting provisions in the court order or decree appointing a fiduciary, or in the subsequent order or decree, or in the will, deed or other instrument, every fiduciary is authorized:" to marshal the decedent's assets, pay the creditors of the administration or estate, to protect the interests of the decedent and otherwise, without exception, to stand in the shoes of the decedent under all applicable law (Matter of McCabe, 177 NY 584(1904)). This measure amends the EPTL by adding a new subparagraph (23) to paragraph (b) of section 11-1.1 to expressly authorize a fiduciary to
2015-S5775 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5775 2015-2016 Regular Sessions I N S E N A T E June 2, 2015 ___________ Introduced by Sen. BONACIC -- (at request of the Office of Court Admin- istration) -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the estates, powers and trusts law, in relation to fidu- ciaries' powers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of section 11-1.1 of the estates, powers and trusts law is amended by adding a new subparagraph 23 to read as follows: (23) TO EXERCISES CONTROL OVER ANY AND ALL RIGHTS TO DIGITAL ASSETS, DIGITAL ACCOUNTS OR DIGITAL DEVICES WHICH ARE PROPERTY OF THE ESTATE OR TRUST, TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LOCAL, STATE OR FEDERAL LAW, INCLUDING COPYRIGHT LAW, OR REGULATIONS NOTWITHSTANDING THE PROVISIONS OF ANY END USER AGREEMENT. FOR THE PURPOSES OF THIS SECTION: (A) "DIGITAL ACCOUNT" MEANS AN ELECTRONIC SYSTEM FOR THE PURPOSES OF CREATING, GENERATING, SENDING, SHARING, COMMUNICATING, RECEIVING, STOR- ING, DISPLAYING OR PROCESSING INFORMATION THAT PROVIDES ACCESS TO A DIGITAL ASSET WHICH CURRENTLY EXISTS OR MAY SUBSEQUENTLY EXIST AS TECH- NOLOGY DEVELOPS, INCLUDING BUT NOT LIMITED TO, EMAIL ACCOUNTS, SOCIAL NETWORK ACCOUNTS, SOCIAL MEDIA ACCOUNTS, FILE-SHARING ACCOUNTS, HEALTH INSURANCE ACCOUNTS, HEALTH CARE ACCOUNTS, FINANCIAL MANAGEMENT ACCOUNTS, DOMAIN REGISTRATION ACCOUNTS, DOMAIN NAME SERVICE ACCOUNTS, WEB HOSTING ACCOUNTS, TAX-PREPARATION SERVICES ACCOUNTS, ONLINE STORE ACCOUNTS AND AFFILIATE PROGRAMS THERETO AND ANY OTHER ONLINE ACCOUNTS THAT CURRENTLY EXIST FOR SUCH COMPARABLE PURPOSES. (B) "DIGITAL ASSET" MEANS DATA, TEXT, EMAILS, DOCUMENTS, AUDIO, VIDEO, IMAGES, SOUNDS, SOCIAL-MEDIA CONTENT, SOCIAL-NETWORKING CONTENT, CODES, HEALTH CARE RECORDS, HEALTH INSURANCE RECORDS, COMPUTER-SOURCE CODES, COMPUTER PROGRAMS, SOFTWARE, SOFTWARE LICENSES, DATABASES, INCLUDING THE USERNAMES AND PASSWORDS CREATED TO ACCESS SUCH ASSETS. "DIGITAL ASSET" EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10844-01-5
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