reglab/statecodes huggingface dataset:
2023 Minnesota Statutes › Chapters 517 - 519A — Domestic Relations › Chapter 519A — Uniform Disposition Of Community Property Rights At Death Act › Section 519A.02 — Rebuttable Presumptions.

519A.02 REBUTTABLE PRESUMPTIONS.
In determining whether this chapter applies to specific property, the following rebuttable presumptions apply:
(1) property acquired during marriage by a spouse of that marriage while domiciled in a jurisdiction under whose laws property could then be acquired as community property is presumed to have been acquired as or to have become, and remained, property to which this chapter applies; and
(2) real property situated in Minnesota and personal property wherever situated acquired by a married person while domiciled in a jurisdiction under whose laws property could not then be acquired as community property, title to which was taken in a form which created rights of survivorship, are presumed to be property to which this chapter does not apply.
History:
2013 c 24 s 2
2023 Minnesota Statutes › Chapters 517 - 519A — Domestic Relations › Chapter 519A — Uniform Disposition Of Community Property Rights At Death Act › Section 519A.03 — Disposition Upon Death.

519A.03 DISPOSITION UPON DEATH.
Upon the death of a married person, one-half of the property to which this chapter applies is the property of the surviving spouse and is not subject to testamentary disposition by the decedent or distribution under the laws of succession of Minnesota. The other one-half of that property is the property of the decedent and is subject to testamentary disposition or distribution under the laws of succession of Minnesota. With respect to property to which this chapter applies, the one-half of the property which is the property of the decedent is not subject to the surviving spouse's right to elect against the will and is not included in the decedent's net estate which is subject to the elective share of the surviving spouse.
History:
2013 c 24 s 3
2023 Minnesota Statutes › Chapters 517 - 519A — Domestic Relations › Chapter 519A — Uniform Disposition Of Community Property Rights At Death Act › Section 519A.04 — Perfection Of Title Of Surviving Spouse.

519A.04 PERFECTION OF TITLE OF SURVIVING SPOUSE.
If the title to any property to which this chapter applies was held by the decedent at the time of death or by a trustee of an inter vivos trust created by the decedent or the decedent and the decedent's spouse, title of the surviving spouse may be perfected by an order of the court or by execution of an instrument, with the approval of the court by the personal representative, the trustee, the heirs or devisees of the decedent, or the testamentary beneficiaries. Neither the personal representative, nor the trustee of any trust described in this section, nor the court having jurisdiction over the decedent's estate or trust has a duty to discover or attempt to discover whether property held by the decedent is property to which this chapter applies, unless a written demand is made by the surviving spouse or the spouse's successor in interest as follows:
(1) within four months after the date of the first publication of notice to creditors, if the property was held by the decedent's estate at the time of death;
(2) within 60 days after the decedent's date of death, if the property was held by a trustee of an inter vivos trust at the time of death and no written notice is provided to the surviving spouse or the spouse's successor in interest by the trustee; or
(3) within 20 days after written notice is given by certified or registered mail or personally delivered to the surviving spouse or the spouse's successor in interest, if the property was held by a trustee of an inter vivos trust at the time of death and written notice is provided to the surviving spouse by the trustee.
History:
2013 c 24 s 4
2023 Minnesota Statutes › Chapters 517 - 519A — Domestic Relations › Chapter 519A — Uniform Disposition Of Community Property Rights At Death Act › Section 519A.05 — Perfection Of Title Of Personal Representative, Trustee, Heir Or Devisee, Or Testamentary Beneficiary.

519A.05 PERFECTION OF TITLE OF PERSONAL REPRESENTATIVE, TRUSTEE, HEIR OR DEVISEE, OR TESTAMENTARY BENEFICIARY.
If the title to any property to which this chapter applies is held by the surviving spouse at the time of the decedent's death or by a trustee of an inter vivos trust created by the decedent or the decedent and the decedent's spouse, the personal representative, the trustee, an heir or devisee of the decedent, or a testamentary beneficiary may institute an action to perfect title to the property. Neither the personal representative nor the trustee of a trust described in this section has a fiduciary duty to discover or attempt to discover whether any property held by the surviving spouse or by a trustee of any trust described in this section is property to which this chapter applies, unless a written demand is made by an heir, devisee, testamentary beneficiary, or creditor of the decedent as follows:
(1) within four months after the date of the first publication of notice to creditors, if the property was held by the surviving spouse at the time of the decedent's death; or
(2) within 60 days after the decedent's date of death, if the property was held by a trustee of an inter vivos trust at the time of death.
History:
2013 c 24 s 5
2023 Minnesota Statutes › Chapters 517 - 519A — Domestic Relations › Chapter 519A — Uniform Disposition Of Community Property Rights At Death Act › Section 519A.06 — Purchaser For Value Or Lender.

519A.06 PURCHASER FOR VALUE OR LENDER.
(a) If a surviving spouse has apparent title to property to which this chapter applies, a purchaser for value or a lender taking a security interest in the property takes the purchaser's or lender's interest in the property free of any rights of the personal representative, trustee, heir, devisee, beneficiary, or distributee of the decedent.
(b) If a personal representative, trustee, heir, devisee, beneficiary, or distributee of the decedent has apparent title to property to which this chapter applies, a purchaser for value or a lender taking a security interest in the property takes an interest in the property free of any rights of the surviving spouse.
(c) A purchaser for value or a lender need not inquire whether a lender or borrower acted properly.
(d) The proceeds of a sale or creation of a security interest must be treated in the same manner as the property transferred to the purchaser for value or a lender.
(e) For purposes of this section, any reference to the term "apparent title" with respect to real property means "record title" to the property.
History:
2013 c 24 s 6
2023 Minnesota Statutes › Chapters 517 - 519A — Domestic Relations › Chapter 519A — Uniform Disposition Of Community Property Rights At Death Act › Section 519A.07 — Creditor's Rights.

519A.07 CREDITOR'S RIGHTS.
This chapter does not affect rights of creditors with respect to property to which this chapter applies.
History:
2013 c 24 s 7
2023 Minnesota Statutes › Chapters 517 - 519A — Domestic Relations › Chapter 519A — Uniform Disposition Of Community Property Rights At Death Act › Section 519A.08 — Acts Of Married Persons.

519A.08 ACTS OF MARRIED PERSONS.
This chapter does not prevent married persons from severing or altering their interests in property to which this chapter applies.
History:
2013 c 24 s 8
2023 Minnesota Statutes › Chapters 517 - 519A — Domestic Relations › Chapter 519A — Uniform Disposition Of Community Property Rights At Death Act › Section 519A.09 — Limitations On Testamentary Disposition.

519A.09 LIMITATIONS ON TESTAMENTARY DISPOSITION.
This chapter does not authorize a person to dispose of property by will or by trust disposition if the property is held under the limitations imposed by law preventing disposition by that person.
History:
2013 c 24 s 9
2023 Minnesota Statutes › Chapters 517 - 519A — Domestic Relations › Chapter 519A — Uniform Disposition Of Community Property Rights At Death Act › Section 519A.10 — Uniformity Of Application And Construction.

519A.10 UNIFORMITY OF APPLICATION AND CONSTRUCTION.
The chapter shall be so applied and construed as to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among those states which enact it.
History:
2013 c 24 s 10
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.01 — Definitions.

520.01 DEFINITIONS.
Subdivision 1.
Applicability.
Unless the language or context clearly indicates that different meaning is intended, the following words, terms, and phrases, for the purposes of sections 520.01 to 520.13, shall be given the meanings subjoined to them.
Subd. 2.
Bank.
"Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking.
Subd. 3.
Fiduciary.
"Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of any corporation public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust, or estate.
Subd. 4.
Person.
"Person" includes a corporation, partnership, or other association, or two or more persons having a joint or common interest.
Subd. 5.
Principal.
"Principal" includes any person to whom a fiduciary as such owes an obligation.
Subd. 6.
In good faith.
A thing is done "in good faith" when it is done honestly, whether it be done negligently or not.
History:
1945 c 202 s 1
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.02 — Application Of Payments Made To Fiduciaries.

520.02 APPLICATION OF PAYMENTS MADE TO FIDUCIARIES.
A person who in good faith pays or transfers to a fiduciary any money or other property which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
History:
1945 c 202 s 2
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.07 — Deposit In Name Of Fiduciary As Such.

520.07 DEPOSIT IN NAME OF FIDUCIARY AS SUCH.
If a deposit is made in a bank to the credit of a fiduciary as such, the bank is authorized to pay the amount of the deposit or any part thereof upon the check of the fiduciary, signed with the name in which such deposit is entered, without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary is committing a breach of an obligation as fiduciary in drawing the check or with knowledge of such facts that its action in paying the check amounts to bad faith. If such a check is payable to the drawee bank and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank is liable to the principal if the fiduciary in fact commits a breach of an obligation as fiduciary in drawing or delivering the check.
History:
1945 c 202 s 7; 1986 c 444
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.08 — Deposit In Name Of Principal.

520.08 DEPOSIT IN NAME OF PRINCIPAL.
If a check is drawn upon the account of the principal in a bank by a fiduciary who is empowered to draw checks upon the principal's account, the bank is authorized to pay such check without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary is committing a breach of an obligation as fiduciary in drawing such check, or with knowledge of such facts that its action in paying the check amounts to bad faith. If such a check is payable to the drawee bank and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank is liable to the principal if the fiduciary in fact commits a breach of an obligation as fiduciary in drawing or delivering the check.
History:
1945 c 202 s 8; 1986 c 444
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.09 — Deposit In Fiduciary's Personal Account.

520.09 DEPOSIT IN FIDUCIARY'S PERSONAL ACCOUNT.
If a person who is a fiduciary makes a deposit in a bank to the person's personal credit of checks drawn by the person upon an account in the person's name as fiduciary, or of checks payable to the person as fiduciary, or of checks drawn by the person upon an account in the name of the principal if the person is empowered to draw checks thereon, or of checks payable to the principal and endorsed by the person, if empowered to endorse such checks, or if the person otherwise makes a deposit of funds held as fiduciary, the bank receiving such deposit is not bound to inquire whether the fiduciary is committing thereby a breach of an obligation as fiduciary; and the bank is authorized to pay the amount of the deposit or any part thereof upon the personal check of the fiduciary without being liable to the principal, unless the bank receives the deposit or pays the check with actual knowledge that the fiduciary is committing a breach of an obligation as fiduciary in making such deposit or in drawing such check, or with knowledge of such facts that its action in receiving the deposit or paying the check amounts to bad faith.
History:
1945 c 202 s 9; 1986 c 444
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.10 — Deposit In Names Of Two Or More Trustees.

520.10 DEPOSIT IN NAMES OF TWO OR MORE TRUSTEES.
When a deposit is made in a bank in the name of two or more persons as trustees and a check is drawn upon the trust account by any trustee or trustees authorized by the other trustee or trustees to draw checks upon the trust account, neither the payee nor other holder nor the bank is bound to inquire whether it is a breach of trust to authorize such trustee or trustees to draw checks upon the trust account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank amounts to bad faith.
History:
1945 c 202 s 10
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.11 — Application.

520.11 APPLICATION.
The provisions of sections 520.01 to 520.13 shall not apply to transactions taking place prior to the time when Laws 1945, chapter 202, takes effect.
History:
1945 c 202 s 11
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.12 — Cases Not Provided For In Sections 520.01 To 520.13.

520.12 CASES NOT PROVIDED FOR IN SECTIONS 520.01 TO 520.13.
In any case not provided for in sections 520.01 to 520.13 the rules of law and equity including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments, and banking, shall continue to apply.
History:
1945 c 202 s 12
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.13 — Citation, Uniform Fiduciaries Act.

520.13 CITATION, UNIFORM FIDUCIARIES ACT.
Sections 520.01 to 520.13 may be cited as the "Uniform Fiduciaries Act."
History:
1945 c 202 s 13
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.21 — Definitions.

520.21 DEFINITIONS.
In sections 520.21 to 520.31, unless the context otherwise requires:
(a) "Assignment" includes any written stock power, bond power, bill of sale, deed, declaration of trust, or other instrument of transfer.
(b) "Claim of beneficial interest" includes a claim of any interest by a decedent's legatee, distributee, heir, or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee, or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person on the claimant's behalf, and includes a claim that the transfer would be in breach of fiduciary duties.
(c) "Corporation" means a private or public corporation, association or trust issuing a security.
(d) "Fiduciary" means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian, or nominee.
(e) "Person" includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity.
(f) "Security" includes any share of stock, bond, debenture, note, or other security issued by a corporation which is registered as to ownership on the books of the corporation.
(g) "Transfer" means a change on the books of a corporation in the registered ownership of a security.
(h) "Transfer agent" means a person employed or authorized by a corporation to transfer securities issued by the corporation.
History:
1961 c 462 s 1; 1986 c 444
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.22 — Registration In The Name Of A Fiduciary.

520.22 REGISTRATION IN THE NAME OF A FIDUCIARY.
A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship; and thereafter the corporation and its transfer agent may assume without inquiry that the newly registered owner continues to be the fiduciary until the corporation or transfer agent receives written notice that the fiduciary is not longer acting as such with respect to the particular security.
History:
1961 c 462 s 2
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.23 — Assignment By A Fiduciary.

520.23 ASSIGNMENT BY A FIDUCIARY.
Except as otherwise provided in sections 520.21 to 520.31, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary:
(a) May assume without inquiry that the assignment, even though to the fiduciary personally or to a nominee, is within the fiduciary's authority and capacity and is not in breach of fiduciary duties;
(b) May assume without inquiry that the fiduciary has complied with any controlling instrument and with the law of the jurisdiction governing the fiduciary relationship, including any law requiring the fiduciary to obtain court approval of the transfer; and
(c) Is not charged with notice of and is not bound to obtain or examine any court record or any recorded or unrecorded document relating to the fiduciary relationship or the assignment, even though the record or document is in its possession.
History:
1961 c 462 s 3; 1986 c 444
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.24 — Evidence Of Appointment Or Incumbency.

520.24 EVIDENCE OF APPOINTMENT OR INCUMBENCY.
A corporation or transfer agent making a transfer pursuant to an assignment by a fiduciary who is not the registered owner shall obtain the following evidence of appointment or incumbency:
(a) In the case of a fiduciary appointed or qualified by a court, a certificate issued by or under the direction or supervision of that court or an officer thereof and dated within 60 days before the transfer; or
(b) In any other case, a copy of a document showing the appointment or a certificate issued by or on behalf of a person reasonably believed by the corporation or transfer agent to be responsible or, in the absence of such a document or certificate, other evidence reasonably deemed by the corporation or transfer agent to be appropriate. Corporations and transfer agents may adopt standards with respect to evidence of appointment or incumbency under this subsection provided such standards are not manifestly unreasonable. Neither the corporation nor transfer agent is charged with notice of the contents of any document obtained pursuant to this paragraph (b) except to the extent that the contents relate directly to the appointment or incumbency.
History:
1961 c 462 s 4
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.25 — Adverse Claims.

520.25 ADVERSE CLAIMS.
(a) A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may give the corporation or transfer agent written notice of the claim. The corporation or transfer agent is not put on notice unless the written notice identifies the claimant, the registered owner, and the issue of which the security is a part, provides an address for communications directed to the claimant and is received before the transfer. Nothing in sections 520.21 to 520.31 relieves the corporation or transfer agent of any liability for making or refusing to make the transfer after it is so put on notice, unless it proceeds in the manner authorized in subsection (b).
(b) As soon as practicable after the presentation of a security for transfer pursuant to an assignment by a fiduciary, a corporation or transfer agent which has received notice of a claim of beneficial interest adverse to the transfer may send notice of the presentation by registered or certified mail to the claimant at the address given by the claimant. If the corporation or transfer agent so mails such a notice it shall withhold the transfer for 30 days after the mailing and shall then make the transfer unless restrained by a court order.
History:
1961 c 462 s 5; 1986 c 444
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.26 — Nonliability Of Corporation And Transfer Agent.

520.26 NONLIABILITY OF CORPORATION AND TRANSFER AGENT.
A corporation or transfer agent incurs no liability to any person by making a transfer or otherwise acting in a manner authorized by sections 520.21 to 520.31.
History:
1961 c 462 s 6
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.27 — Nonliability Of Third Persons.

520.27 NONLIABILITY OF THIRD PERSONS.
(a) No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, is liable for participation in any breach of fiduciary duty by reason of failure to inquire whether the transaction involves a breach unless it is shown that the person acted with actual knowledge that the proceeds of the transaction were being or were to be used wrongfully for the individual benefit of the fiduciary or that the transaction was otherwise in breach of duty.
(b) If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent by reason of sections 520.21 to 520.31 incurs no liability.
(c) This section does not impose any liability upon the corporation or its transfer agent.
History:
1961 c 462 s 7; 1986 c 444
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.28 — Territorial Application.

520.28 TERRITORIAL APPLICATION.
(a) The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction under whose laws the corporation is organized.
(b) Sections 520.21 to 520.31 apply to the rights and duties of a person other than the corporation and its transfer agents with regard to acts and omissions in this state in connection with the acquisition, disposition, assignment, or transfer of a security by or to a fiduciary and of a person who guarantees in this state the signature of a fiduciary in connection with such a transaction.
History:
1961 c 462 s 8
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.29 — Tax Obligations.

520.29 TAX OBLIGATIONS.
Sections 520.21 to 520.31 do not affect any obligation of a corporation or transfer agent with respect to estate, inheritance, succession, or other taxes imposed by the laws of this state.
History:
1961 c 462 s 9
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.30 — Uniformity Of Interpretation.

520.30 UNIFORMITY OF INTERPRETATION.
Sections 520.21 to 520.31 shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it.
History:
1961 c 462 s 10
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.31 — Short Title.

520.31 SHORT TITLE.
Sections 520.21 to 520.31 may be cited as the "Uniform Act for the Simplification of Fiduciary Security Transfers."
History:
1961 c 462 s 11
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.32 — Deposit Of Securities In Central Depository.

520.32 DEPOSIT OF SECURITIES IN CENTRAL DEPOSITORY.
Subdivision 1.
Authorization.
Notwithstanding any other provision of law, any fiduciary, as defined in sections 520.01 or 520.21, holding securities in its fiduciary capacity, any bank or trust company holding securities as a custodian or managing agent, and any bank or trust company holding securities as custodian for a fiduciary is authorized to deposit or arrange for the deposit of such securities in a clearing corporation, as defined in section 336.8-102. When such securities are so deposited, certificates representing securities of the same class of the same issuer may be merged and held in bulk in the name of the nominee of such clearing corporation with any other such securities deposited in such clearing corporation by any person regardless of the ownership of such securities, and certificates of small denomination may be merged into one or more certificates of larger denomination. The records of such fiduciary and the records of such bank or trust company acting as custodian, as managing agent or as custodian for a fiduciary shall at all times show the name of the party for whose account the securities are so deposited. Title to such securities may be transferred by bookkeeping entry on the books of such clearing corporation without physical delivery of certificates representing such securities. A bank or trust company so depositing securities pursuant to this section shall be subject to such rules as, in the case of state chartered institutions, the state Department of Commerce and, in the case of national banking associations, the comptroller of the currency may from time to time issue. A bank or trust company acting as custodian for a fiduciary shall, on demand by the fiduciary, certify in writing to the fiduciary the securities so deposited by such bank or trust company in such clearing corporation for the account of such fiduciary. A fiduciary shall, on demand by any party to a judicial proceeding for the settlement of such fiduciary's account or on demand by the attorney for such party, certify in writing to such party the securities deposited by such fiduciary in such clearing corporation for its account as such fiduciary.
Subd. 2.
Applicability.
This section shall apply to any fiduciary holding securities in its fiduciary capacity, and to any bank or trust company holding securities as a custodian, managing agent or custodian for a fiduciary, acting on February 14, 1974 or who thereafter may act regardless of the date of the agreement, instrument or court order by which it is appointed and regardless of whether or not such fiduciary, custodian, managing agent or custodian for a fiduciary owns capital stock of such clearing corporation.
History:
1974 c 46 s 3; 1985 c 248 s 70
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 520 — Fiduciaries; Uniform Acts › Section 520.33 — Deposit Of United States Government And Agency Securities With A Federal Reserve Bank.

520.33 DEPOSIT OF UNITED STATES GOVERNMENT AND AGENCY SECURITIES WITH A FEDERAL RESERVE BANK.
Subdivision 1.
Authorization.
Notwithstanding any other provision of law, any bank or trust company, when acting as fiduciary, as defined in section 520.01 or 520.21, and any bank or trust company, when holding securities as custodian for a fiduciary, is authorized to deposit, or arrange for the deposit, with the Federal Reserve Bank in its district of any securities the principal and interest of which the United States or any department, agency or instrumentality thereof has agreed to pay, or has guaranteed payment, to be credited to one or more accounts on the books of said Federal Reserve Bank in the name of such bank or trust company, to be designated fiduciary or safekeeping accounts, to which account other similar securities may be credited. A bank or trust company so depositing securities with a Federal Reserve Bank shall be subject to such rules with respect to the making and maintenance of such deposit as, in the case of state chartered institutions, the commissioner of commerce, and, in the case of national banking associations, the comptroller of the currency, may from time to time issue. The records of such bank or trust company shall at all times show the ownership of the securities held in such account. Ownership of, and other interests in, the securities credited to such account may be transferred by entries on the books of said Federal Reserve Bank without physical delivery of any securities. A bank or trust company acting as custodian for a fiduciary shall, on demand by the fiduciary, certify in writing to the fiduciary the securities so deposited by such bank or trust company with such Federal Reserve Bank for the account of such fiduciary. A fiduciary shall, on demand by any party to its accounting or on demand by the attorney for such party, certify in writing to such party the securities deposited by such fiduciary with such Federal Reserve Bank for its account as such fiduciary.
Subd. 2.
Applicability.
This section shall apply to all fiduciaries, and custodians for fiduciaries, acting on May 18, 1975 or who thereafter may act regardless of the date of the instrument or court order by which they are appointed.
History:
1975 c 194 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1985 c 248 s 70
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.01 — Short Title.

521A.01 SHORT TITLE.
This chapter may be cited as the "Revised Uniform Fiduciary Access to Digital Assets Act."
History:
2016 c 135 art 2 s 2
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.03 — Applicability.

521A.03 APPLICABILITY.
(a) This chapter applies to:
(1) a fiduciary acting under a will or power of attorney;
(2) a personal representative acting for a decedent;
(3) a conservatorship proceeding; and
(4) a trustee acting under a trust.
(b) 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.
(c) 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.
History:
2016 c 135 art 2 s 4
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.04 — User Direction For Disclosure Of Digital Assets.

521A.04 USER DIRECTION FOR DISCLOSURE OF DIGITAL ASSETS.
(a) A user may use an online tool to direct the custodian to disclose to a designated recipient or not to disclose some or all of the user's digital assets, including the content of electronic communications. If the online tool allows the user to modify or delete a direction at all times, a direction regarding disclosure using an online tool overrides a contrary direction by the user in a will, trust, power of attorney, or other record.
(b) If a user has not used an online tool to give direction under paragraph (a) or if the custodian has not provided an online tool, the user may allow or prohibit in a will, trust, power of attorney, or other record disclosure to a fiduciary of some or all of the user's digital assets, including the content of electronic communications sent or received by the user.
(c) A user's direction under paragraph (a) or (b) overrides a contrary provision in a terms-of-service agreement that does not require the user to act affirmatively and distinctly from the user's assent to the terms of service.
History:
2016 c 135 art 2 s 5
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.05 — Terms-of-service Agreement.

521A.05 TERMS-OF-SERVICE AGREEMENT.
(a) This chapter does not change or impair a right of a custodian or a user under a terms-of-service agreement to access and use digital assets of the user.
(b) This chapter does not give a fiduciary or designated recipient any new or expanded rights other than those held by the user for whom, or for whose estate, the fiduciary or designated recipient acts or represents.
(c) A fiduciary's or designated recipient's access to digital assets may be modified or eliminated by a user, by federal law, or by a terms-of-service agreement if the user has not provided direction under section 521A.04.
History:
2016 c 135 art 2 s 6
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.06 — Procedure For Disclosing Digital Assets.

521A.06 PROCEDURE FOR DISCLOSING DIGITAL ASSETS.
(a) When disclosing digital assets of a user under this chapter, the custodian may, at its sole discretion:
(1) grant a fiduciary or designated recipient full access to the user's account;
(2) grant a fiduciary or designated recipient partial access to the user's account sufficient to perform the tasks with which the fiduciary or designated recipient is charged; or
(3) provide a fiduciary or designated recipient a copy in a record of any digital asset that, on the date the custodian received the request for disclosure, the user could have accessed if the user were alive and had full capacity and access to the account.
(b) A custodian may assess a reasonable administrative charge for the cost of disclosing digital assets under this chapter.
(c) A custodian need not disclose under this chapter a digital asset deleted by a user.
(d) If a user directs or a fiduciary requests a custodian to disclose under this chapter some, but not all, of the user's digital assets, the custodian need not disclose the assets if segregation of the assets would impose an undue burden on the custodian. If the custodian believes the direction or request imposes an undue burden, the custodian or fiduciary may seek an order from the court to disclose:
(1) a subset limited by date of the user's digital assets;
(2) all of the user's digital assets to the fiduciary or designated recipient;
(3) none of the user's digital assets; or
(4) all of the user's digital assets to the court for review in chambers.
History:
2016 c 135 art 2 s 7
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.07 — Disclosure Of Content Of Electronic Communications Of Deceased User.

521A.07 DISCLOSURE OF CONTENT OF ELECTRONIC COMMUNICATIONS OF DECEASED USER.
If a deceased user consented or a court directs disclosure of the content of an electronic communication of the user, the custodian shall disclose to the personal representative of the estate of the user the content of an electronic communication sent or received by the user if the representative gives the custodian:
(1) a written request for disclosure in physical or electronic form;
(2) a certified copy of the death certificate of the user;
(3) a certified copy of the letter of appointment of the representative, court order, or Affidavit of Collection of Personal Property executed under section 524.3-1201;
(4) unless the user provided direction using an online tool, a copy of the user's will, trust, power of attorney, or other record evidencing the user's consent to disclosure of the content of electronic communications; and
(5) if requested by the custodian:
(i) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user's account;
(ii) evidence linking the account to the user; or
(iii) a finding by the court that:
(A) the user had a specific account with the custodian, identifiable by the information specified in item (i);
(B) disclosure of the content of electronic communications of the user would not violate United States Code, title 18, section 2701 et seq., as amended; United States Code, title 47, section 222, as amended; or other applicable law;
(C) unless the user provided direction using an online tool, the user consented to disclosure of the content of electronic communications; or
(D) disclosure of the content of electronic communications of the user is reasonably necessary for administration of the estate.
History:
2016 c 135 art 2 s 8
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.08 — Disclosure Of Other Digital Assets Of Deceased User.

521A.08 DISCLOSURE OF OTHER DIGITAL ASSETS OF DECEASED USER.
Unless the user prohibited disclosure of digital assets or the court directs otherwise, a custodian shall disclose to the personal representative of the estate of a deceased user a catalog of electronic communications sent or received by the user and digital assets, other than the content of electronic communications, of the user if the representative gives the custodian:
(1) a written request for disclosure in physical or electronic form;
(2) a certified copy of the death certificate of the user;
(3) a certified copy of the letter of appointment of the representative, court order, or Affidavit of Collection of Personal Property executed under section 524.3-1201; and
(4) if requested by the custodian:
(i) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the user's account;
(ii) evidence linking the account to the user;
(iii) an affidavit stating that disclosure of the user's digital assets is reasonably necessary for administration of the estate; or
(iv) a finding by the court that:
(A) the user had a specific account with the custodian, identifiable by the information specified in item (i); or
(B) disclosure of the user's digital assets is reasonably necessary for administration of the estate.
History:
2016 c 135 art 2 s 9
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.09 — Disclosure Of Content Of Electronic Communications Of Principal.

521A.09 DISCLOSURE OF CONTENT OF ELECTRONIC COMMUNICATIONS OF PRINCIPAL.
To the extent a power of attorney expressly grants an agent authority over the content of electronic communications sent or received by the principal and unless directed otherwise by the principal or the court, a custodian shall disclose to the agent the content if the agent gives the custodian:
(1) a written request for disclosure in physical or electronic form;
(2) an original or copy of the power of attorney expressly granting the agent authority over the content of electronic communications of the principal;
(3) a certification by the agent, under penalty of perjury, that the power of attorney is in effect; and
(4) if requested by the custodian:
(i) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the principal's account; or
(ii) evidence linking the account to the principal.
History:
2016 c 135 art 2 s 10
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.10 — Disclosure Of Other Digital Assets Of Principal.

521A.10 DISCLOSURE OF OTHER DIGITAL ASSETS OF PRINCIPAL.
Unless otherwise ordered by the court, directed by the principal, or provided by a power of attorney, a custodian shall disclose to an agent with specific authority over digital assets or general authority to act on behalf of a principal a catalog of electronic communications sent or received by the principal and digital assets, other than the content of electronic communications, of the principal if the agent gives the custodian:
(1) a written request for disclosure in physical or electronic form;
(2) an original or a copy of the power of attorney that gives the agent specific authority over digital assets or general authority to act on behalf of the principal;
(3) a certification by the agent, under penalty of perjury, that the power of attorney is in effect; and
(4) if requested by the custodian:
(i) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the principal's account; or
(ii) evidence linking the account to the principal.
History:
2016 c 135 art 2 s 11
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.11 — Disclosure Of Digital Assets Held In Trust When Trustee Is Original User.

521A.11 DISCLOSURE OF DIGITAL ASSETS HELD IN TRUST WHEN TRUSTEE IS ORIGINAL USER.
Unless otherwise ordered by the court or provided in a trust, a custodian shall disclose to a trustee that is an original user of an account any digital asset of the account held in trust, including a catalog of electronic communications of the trustee and the content of electronic communications.
History:
2016 c 135 art 2 s 12
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.12 — Disclosure Of Content Of Electronic Communications Held In Trust When Trustee Not Original User.

521A.12 DISCLOSURE OF CONTENT OF ELECTRONIC COMMUNICATIONS HELD IN TRUST WHEN TRUSTEE NOT ORIGINAL USER.
Unless otherwise ordered by the court, directed by the user, or provided in a trust, a custodian shall disclose to a trustee that is not an original user of an account the content of an electronic communication sent or received by an original or successor user and carried, maintained, processed, received, or stored by the custodian in the account of the trust if the trustee gives the custodian:
(1) a written request for disclosure in physical or electronic form;
(2) a certified copy of the trust instrument or a certification of the trust under section 501C.1013 that includes consent to disclosure of the content of electronic communications to the trustee;
(3) a certification by the trustee, under penalty of perjury, that the trust exists and the trustee is a currently acting trustee of the trust; and
(4) if requested by the custodian:
(i) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the trust's account; or
(ii) evidence linking the account to the trust.
History:
2016 c 135 art 2 s 13
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.13 — Disclosure Of Other Digital Assets Held In Trust When Trustee Not Original User.

521A.13 DISCLOSURE OF OTHER DIGITAL ASSETS HELD IN TRUST WHEN TRUSTEE NOT ORIGINAL USER.
Unless otherwise ordered by the court, directed by the user, or provided in a trust, a custodian shall disclose to a trustee that is not an original user of an account a catalog of electronic communications sent or received by an original or successor user and stored, carried, or maintained by the custodian in an account of the trust and any digital assets, other than the content of electronic communications, in which the trust has a right or interest if the trustee gives the custodian:
(1) a written request for disclosure in physical or electronic form;
(2) a certified copy of the trust instrument or a certification of the trust under section 501C.1013;
(3) a certification by the trustee, under penalty of perjury, that the trust exists and the trustee is a currently acting trustee of the trust; and
(4) if requested by the custodian:
(i) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the trust's account; or
(ii) evidence linking the account to the trust.
History:
2016 c 135 art 2 s 14
2023 Minnesota Statutes › Chapters 520 - 523 — Fiduciaries; Powers Of Attorney › Chapter 521A — Uniform Fiduciary Access To Digital Assets Act › Section 521A.14 — Disclosure Of Digital Assets To Conservator Of Protected Person.

521A.14 DISCLOSURE OF DIGITAL ASSETS TO CONSERVATOR OF PROTECTED PERSON.
(a) After an opportunity for a hearing under chapter 524, the court may grant a conservator access to the digital assets of a protected person.
(b) Unless otherwise ordered by the court or directed by the user, a custodian shall disclose to a conservator the catalog of electronic communications sent or received by a protected person and any digital assets, other than the content of electronic communications, in which the protected person has a right or interest if the conservator gives the custodian:
(1) a written request for disclosure in physical or electronic form;
(2) a certified copy of the court order that gives the conservator authority over the digital assets of the protected person; and
(3) if requested by the custodian:
(i) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the account of the protected person; or
(ii) evidence linking the account to the protected person.
(c) A conservator with general authority to manage the assets of a protected person may request a custodian of the digital assets of the protected person to suspend or terminate an account of the protected person for good cause. A request made under this section must be accompanied by a certified copy of the court order giving the conservator authority over the protected person's property.
History:
2016 c 135 art 2 s 15