Could it finally happen? Senators Mark Warner (D-Va.) And Kevin Cramer (RN.D.) reintroduced federal laws that would allow this to happen Remote online legislation (ROZ) nationwide.
The bipartisan legislation known as the Securing and Enabling Commerce via the Remote and Electronic (SECURE) Notarization Act would allow the “immediate nationwide use” of RON by any notary in the United States. It would also require the use of tamper-evident technology in electronic notaries and help prevent fraud through the use of multifactor authentication.
The senators performed during the last session of Congress.
Cramer said the COVID-19 pandemic exposed “several flaws and outdated methods in the American economy,” including the notary process.
“Our bill would bring that process into the 21st century and allow people to securely fill out notarized documents remotely, just like many other important forms,” said Cramer.
adoption According to a survey by the EU, the number of remote online notaries’ offices rose by 547% in 2020 American Land Title Association (ALTA) of the most important providers in the RON sector. So far, 34 states have passed a permanent RON law.
ALTA reported in December that RON is used most intensively in Florida, Texas and Virginia, with usage increasing in the Midwestern states as well.
“I am proud to introduce this bipartisan bill that enables the nationwide use of remote online authentication while requiring minimum standards of security and providing security for the interstate recognition of transactions completed with remote online authentication” said Warner. “While the COVID-19 pandemic presented a number of obstacles to essential tasks such as executing wills, filling out financial documents, buying or selling a home, or buying or selling a car online, many states have shown how to do this Technology used effectively can meet the needs of Americans. “
The bill has been endorsed by a variety of organizations including ALTA, Mortgage Bankers Association (MBA), the National Association of Brokers (NAR), the American Council of Life Insurers (ACLI).
“The leadership of Senator Warner and Senator Cramer on this initiative recognizes the need for modern, practical approaches to keep pace and serve individuals and families who are working to protect their families’ financial futures,” said Susan Neely , President and CEO of ACLI. “It makes sense to view remote online authentication as a permanent innovation.”
Notarize announced In April This allows independent notaries – of which there are 4.4 million in the US – to use their software and platform for their own independent transactions. The company estimates that 1.25 billion notaries are completed each year, including powers of attorney, beneficiary designations, real estate transactions, and mortgages.