NAIFA joined with industry partners in a letter to House sponsors of the SECURE Remote Online Notarization Act urging support for the importance of the legislation. Bipartisan legislation (S. 5355, H.R. 6364) was introduced by Sens. Kevin Cramer (R-ND) and Mark Warner (D-VA), and Reps. Guy Reschenthaler (R-PA) and Madeleine Dean (D-PA).
The legislation would allow business 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. Thirty-four 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 continues to advocate the importance of the legislation becoming law.