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Requiring E-Statements

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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 electronicrecords or electronic signatures, other than a governmentalagency with respect to a record other than a contract to whichit is a party.

First published on BankersOnline.com 4/28/08

First published on 04/28/2008

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