NAIFA has joined with industry partners in a letter to House sponsors of the Securing and Enabling Commerce Using Remote and Electronic Notarization Act urging support for the legislation. The bipartisan legislation (H.R. 3962) was introduced by Representatives Madeleine Dean (D-PA) and Kelly Armstrong (R-ND).
The legislation would allow businesses and consumers to utilize Remote Online Notarization (RON) laws to execute critical documents using two-way audiovisual communication. Current requirements for a signer to physically be in the presence of a notary are antiquated and unnecessary in a time of heightened awareness and social distancing. Forty states have already recognized the benefits of RON technology and passed legislation, while many more are currently considering similar proposals.
To address physical restrictions in place during the COVID-10 outbreak, this legislation would allow consumers and businesses to continue operations in certain transactions. Given the ongoing difficulty of financial advisors, agents, and mortgage brokers to meet with their clients, NAIFA and its coalition partners continue to advocate the importance of the legislation becoming law.