Montana Amends Provisions Concerning Erroneous References and Digital Assets Act
Montana Amends Provisions Concerning Erroneous References
Montana amended its provisions to correct erroneous references in material that include updates regarding notaries, taxation, and mortgage servicer prohibitions. These provisions are effective on October 1, 2017. Other updates include provisions regarding disabled veterans, invoices of distributors and aviation fuel dealers, accreditation of schools, language programs, firearms, and license plates.
Notary Provisions
Section 1-5-603 requirements for certain notarial acts has changed subsection (5) to state that, when a notarial officer makes a protest of a negotiable instrument, it will be determined by 30-3-510(2).
Section 1-5-610 was amended to include short forms, providing examples of short-form certificates of notarial acts. Section 1-5-622 was changed to explain authority to refuse to perform notarial acts.
Taxation
Section 7-6-2527 was amended to add the caption, “taxation – public and governmental purposes.” Additionally, subsection (17) explains that public health purposes are as provided in 50-2-111, removing the additional erroneous reference.
Section 15-7-102 covers notice of classification, market value, and taxable value to owners – appeals. Subsection (3)(e) amendments concern the review conducted. Now an independent appraisal provided by the taxpayer will be considered. The standard for considering an independent appraisal is if the appraisal meets standards set by the Montana board of real estate appraisers and if the appraisal was conducted within 6 months of the valuation date.
Mortgage Servicer Prohibitions
Section 32-9-169 covers mortgage servicer prohibitions. Subsection (6) was corrected to state that late penalties are not assessed and other negative consequences do not result regardless of whether the loan is delinquent unless there are not sufficient funds in the account to cover the payments and the mortgage servicer has a reasonable basis to believe that recovery of the funds will be possible.
Section 33-2-1112 covers exemptions, disclaimers, and violations. Subsection (3) states that failure to file a registration statement, any summary of the registration statement, an enterprise risk report, or any amendment to the registration statement or enterprise risk report, as required by 33-2-1111 and this section, within the time specified for filing, is a violation of 33-2-1111 as well as this section.
View the full text at
http://leg.mt.gov/bills/2017/sb0099/SB0021_1.pdf
Montana Enacts Provisions Concerning Revised Uniform Fiduciary Access to Digital Assets Act
Montana enacted provisions concerning its Revised Uniform Fiduciary Access to Digital Assets Act. These provisions are effective on October 1, 2017.
Definitions
Section 2 covers definitions. Some of the definitions provided are for account, agent, carries, catalogue of electronic communications, and conservator. Content of an electronic communication is defined as “information concerning the substance or meaning of the communication which has been sent or received by a user, is an electronic storage by a custodian providing an electronic-communication service to the public or is carried or maintained by a custodian providing a remote-computing service to the public, and is not readily accessible to the public.” Additionally, online tool means an electronic service provided by a custodian that allows the user, in an agreement distinct from the terms-of-service agreement between the custodian and user, to provide directions for disclosure or nondisclosure of digital assets to a third person.
User Discretion for Disclosure
Section 3 describes user discretion for disclosure of digital assets. 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. Section 4 explains that sections 1 through 17 of the act of not change or impair a right of a custodian or user under a terms-of-service agreement to access and use digital assets of the user.
Disclosure Procedure
Section 5 covers the procedure for disclosing digital assets. The custodian at its sole discretion may grant a fiduciary or designated recipient full access to the user’s account, 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 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. Sections 6 and 7 explain disclosure of content of electronic communications of a deceased user and disclosure of other digital assets of a deceased user.
Disclosure of Principal
Section 8 covers disclosure of content of electronic communications of a 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 a written request for disclosure in physical or electronic form, an original or copy of the power of attorney expressly granting the agent authority over the content of electronic communications of the principal, and a certification by the agent, under penalty of perjury, that the power of attorney is in effect. The custodian may also request a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the principal’s account, or evidence linking the account to the principal. The same rules apply to Section 9, disclosure of other digital assets of a principal.
Disclosure of Trustees and Conservators
Under Section 10, disclosure of digital assets held in trust when the trustee is the original user, 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 catalogue of electronic communications of the trustee and the content of electronic communications. Section 11, disclosure of contents of electronic communications held in trust when the trustee is not an original user; Section 12, disclosure of other digital assets held in trust when the trustee is not the original user; and Section 13, disclosure of digital assets to the conservator of a protected person all use the rules set forth in Sections 8 and 9.
Fiduciary Duty and Authority
Section 14 explains that the legal duties imposed on a fiduciary charged with managing tangible property also apply to the management of digital assets. Those include the duty of care, the duty of loyalty, and the duty of confidentiality. A fiduciary’s or designated recipient’s authority with respect to a digital asset of a use, except as otherwise provided in Section 5, is subject to the applicable terms of service and is subject to other applicable law. This includes copyright law. In the case of a fiduciary, it is limited by the scope of the fiduciary’s duties, and may not be used to impersonate the user.
Sections 15 through 20 cover custodian compliance and immunity, uniformity of application and construction, relation to electronic signatures in global and national commerce act, codification instruction, severability, and retroactive applicability respectively.
View the full text at
http://leg.mt.gov/bills/2017/sb0199/SB0118_1.pdf
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