The Business Council supports S.2508 / A.3008 Part P, which would allow for electronic notarization in New York, easing some burden from transactions for both businesses and individuals alike.
The Business Council has long been a proponent of taking advantage of technology to help New Yorkers conduct business in efficient and cost-saving ways. In cases where law changes are necessary to facilitate the use of newer technology, we are always thankful when lawmakers seize the opportunity to act for the benefit of all New Yorkers. The allowance of the use of electronic notarization is one of those opportunities.
One of the few silver linings of the COVID-19 pandemic has been the chance to test a host of new ways of doing business on a grand scale. We are experiencing the advantages of technology as so many New Yorkers telecommute and participate in on-line meetings, business transactions, conferences and other activities over the last several months.
During the initial stages of the pandemic, the Governor allowed, by Executive Order, and then later extended, the use of electronic video conference technology in notarization. The EO allowed for business and personal legal matters to continue through months when many New Yorkers couldn’t leave their homes. The allowance was necessary, convenient and without any negative impacts. It was an experiment that proved that electronic notarization works in New York.
The budget provision enumerates a number of safeguards that ensure that electronic notarization will accomplish the exact same protections as traditional notarizations. The process will be safer, more efficient and faster, helping transactions continue regardless of external factors such as weather or health emergencies.
With twenty five other states passing laws to allow for electronic notarization, the time is now for New York to make this change permanent. Now is the time for New York to move into the future and pass this bill. For these reasons, The Business Council supports and respectfully asks for the inclusion of S.2508 / A.3008, Part P in the final budget.