s_jud_2016a_2016-02-16t11:19:48z1 Hearing Summary

Date: 02/16/2016

11:21 AM -- SB16-088



Senator Steadman, sponsor, presented Senate Bill 16-088, concerning the Revised Uniform Fiduciary Access to Digital Assets Act. Senator Steadman discussed the reasons for bringing the bill, and provided background on similar legislation introduced in prior sessions. Senator Steadman distributed and explained Amendments L.001 (Attachment A) and L.002 (Attachment B).



16SenateJud0216AttachA.pdf 16SenateJud0216AttachB.pdf





11:26 AM -- Mr. Stanley Kent, commissioner on the Uniform Law Commission, testified in support of the bill. Mr. Kent discussed existing Colorado and federal law, reasons to adopt the uniform law, and the differences between SB 16-088 and similar bills introduced in prior sessions. He stated that attorney groups within the Colorado Bar Association have vetted the bill.





11:36 AM



Mr. Kent responded to questions on time limitations for finding digital assets, protections for decedents, and provisions of the bill that allow an individual to use an on-line tool to override that individual's will, trust, power of attorney, or other record.





11:46 AM



The committee, Senator Steadman, and Mr. Kent continued to discuss provisions relating to individuals affirmatively granting access to digital assets.





11:53 AM



Senator Steadman and Mr. Kent explained the proposed amendments.