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Requiring E-Statements
Answer by Andy Zavoina, BOL Guru
Guru Bio
Question: We are getting ready to launch electronic statements. We want to test it on employees first. Since employees get their accounts for free, management wants to require that they all get e-statements. Is this permissible?
Answer: No. You can't require that they opt only for e-statements. You should provide an alternative and could even offer paper statements with a fee, but E-SIGN itself prohibits this requirement.
101(b) This title does not—
(2) require any person to agree to use or accept electronic
records or electronic signatures, other than a governmental
agency with respect to a record other than a contract to which
it is a party.
First published on BankersOnline.com 4/28/08
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