Louisiana, North Carolina allow electronic transactions. (Technology Notes).Louisiana and North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. have joined the list of states that have enacted a version of the Uniform Electronic Transactions Act The Uniform Electronic Transactions Act (UETA) is one of the several United States Uniform Acts proposed by the National Conference of Commissioners on Uniform State Laws (NCCUSL). Since then 46 States, the District of Columbia, and the U.S. , designed to regulate the access and use of electronic records and signatures in insurance and other transactions, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the National Association of Independent Insurers. So far, 38 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). have adopted UETA UETA Uniform Electronic Transactions Act laws, according to the NAII NAII National Association of Independent Insurers . In today's e-commerce marketplace, consumers have come to expect immediate service, Gregory W. LaCost, NAII counsel, said in a statement. "Permitting insurers to accept electronic signatures and records helps streamline and expedite underwriting the policy issuance process." Experts estimate that $14 billion of insurance could be sold online by 2004, LaCost said. Louisiana's law defines relevant terms and directs its application to electronic records and signatures communicated after July 1, 2001. The law does not require the use of electronic records or signatures, and it will apply only to transactions between parties who agree to transact business electronically, LaCost said. North Carolina revised an existing UETA law by expanding its application to electronic records and electronic signatures, without affecting transactions subject to any other law, he said. Both states have exceptions to their laws, said Patrick Watts, assistant vice president with the Alliance of American Insurers, but those exemptions are the same ones contained in the federal law governing electronic transactions. For example, cancellations of health insurance or benefits and life insurance or benefits must be done on paper, he said. Watts said it's important to note that while UETA and the federal law make electronic transactions valid, they don't make those transactions "bulletproof Refers to extremely stable hardware and/or software that cannot be brought down no matter what unusual conditions arise. See industrial strength. bulletproof - Used of an algorithm or implementation considered extremely robust; lossage-resistant; capable of correctly ." "The law says they are not invalid just because they're done in electronic form," Watts said. "If an electronic transaction is fraudulent and you can prove the fraud, it's going down." |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion