Federal E-Signature Law Protects Agents, Brokers.
Agents and brokers were concerned that they could be held responsible for problems resulting from electronic signature usage, Wells said. But the law includes a provision that states agents and brokers can't be held liable for any deficiency in the electronic signature or record process if the agent or broker hasn't engaged in intentional misconduct and didn't help develop the electronic signature process.
The new law gives electronic signatures the same validity as wet ink signatures and gives electronic signatures the same legal effect as hard-copy paper records, Wells said.
"For the first time, a fax is the same as a paper record," he said.
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|Title Annotation:||digital signatures|
|Comment:||Federal E-Signature Law Protects Agents, Brokers.(digital signatures)|
|Article Type:||Brief Article|
|Date:||Dec 1, 2000|
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