Consumer Banking and Payments Law: VIRGINIA
Va. Code Ann. §§ 59.1-479 to 59.1-501
Date enacted: The Act was approved April 9, 2000.
Va. Code Ann. §§ 59.1-479 to 59.1-501
Date enacted: The Act was approved April 9, 2000.
Wash. Rev. Code §§ 1.80.010 to 1.80.900
Date enacted: The Act was effective June 11, 2020.
W. Va. Code §§ 39A-1-1 to 39A-3-5
Date enacted: The Act was approved May 2, 2001, and effective July 1, 2001.
Wis. Stat. §§ 137.11 to 137.26
Date enacted: The Act was effective May 5, 2004.
Wyo. Stat. Ann. §§ 40-21-101 to 40-21-119
Date enacted: The Act was approved February 5, 2001, and effective July 1, 2001.
Non-Uniform Sections: § 40-12-102: adds definition of “this act”; § 40-21-104(b): amended, effective January 1, 2020, to state that the Wyoming Financial Technology Sandbox Act shall apply to this act; omits severability clause.
E-Sign Consumer Protections: not explicit.
This section reprints the Uniform Electronic Transactions Act (UETA), and its Prefatory Note and Comments, as enacted in 1999 by the National Conference of Commissioners on Uniform State Laws (now known as the Uniform Law Commission). This reprint is with permission of the National Conference of Commissioners on Uniform State Laws, which has copyrighted the text and comments.
UNIFORM ELECTRONIC TRANSACTIONS ACT (1999)1
Section 1. Short Title
Section 2. Definitions
With the advent of electronic means of communication and information transfer, business models and methods for doing business have evolved to take advantage of the speed, efficiencies, and cost benefits of electronic technologies. These developments have occurred in the face of existing legal barriers to the legal efficacy of records and documents which exist solely in electronic media.
This [Act] may be cited as the Uniform Electronic Transactions Act.
In this [Act]:
(1) “Agreement” means the bargain of the parties in fact, as found in their language or inferred from other circumstances and from rules, regulations, and procedures given the effect of agreements under laws otherwise applicable to a particular transaction.
(a) Except as otherwise provided in subsection (b), this [Act] applies to electronic records and electronic signatures relating to a transaction.
(b) This [Act] does not apply to a transaction to the extent it is governed by:
(1) a law governing the creation and execution of wills, codicils, or testamentary trusts;
(2) [The Uniform Commercial Code other than Sections 1-107 and 1-206, Article 2, and Article 2A];
This [Act] applies to any electronic record or electronic signature created, generated, sent, communicated, received, or stored on or after the effective date of this [Act].
Comment
This section makes clear that the Act only applies to validate electronic records and signatures which arise subsequent to the effective date of the Act. Whether electronic records and electronic signatures arising before the effective date of this Act are valid is left to other law.
(a) This [Act] does not require a record or signature to be created, generated, sent, communicated, received, stored, or otherwise processed or used by electronic means or in electronic form.
(b) This [Act] applies only to transactions between parties each of which has agreed to conduct transactions by electronic means. Whether the parties agree to conduct a transaction by electronic means is determined from the context and surrounding circumstances, including the parties’ conduct.
This [Act] must be construed and applied:
(1) to facilitate electronic transactions consistent with other applicable law;
(2) to be consistent with reasonable practices concerning electronic transactions and with the continued expansion of those practices; and
(3) to effectuate its general purpose to make uniform the law with respect to the subject of this [Act] among States enacting it.
Comment
(a) A record or signature may not be denied legal effect or enforceability solely because it is in electronic form.
(b) A contract may not be denied legal effect or enforceability solely because an electronic record was used in its formation.
(c) If a law requires a record to be in writing, an electronic record satisfies the law.
(d) If a law requires a signature, an electronic signature satisfies the law.
(a) If parties have agreed to conduct a transaction by electronic means and a law requires a person to provide, send, or deliver information in writing to another person, the requirement is satisfied if the information is provided, sent, or delivered, as the case may be, in an electronic record capable of retention by the recipient at the time of receipt. An electronic record is not capable of retention by the recipient if the sender or its information processing system inhibits the ability of the recipient to print or store the electronic record.
(a) An electronic record or electronic signature is attributable to a person if it was the act of the person. The act of the person may be shown in any manner, including a showing of the efficacy of any security procedure applied to determine the person to which the electronic record or electronic signature was attributable.
If a change or error in an electronic record occurs in a transmission between parties to a transaction, the following rules apply:
(1) If the parties have agreed to use a security procedure to detect changes or errors and one party has conformed to the procedure, but the other party has not, and the nonconforming party would have detected the change or error had that party also conformed, the conforming party may avoid the effect of the changed or erroneous electronic record.
If a law requires a signature or record to be notarized, acknowledged, verified, or made under oath, the requirement is satisfied if the electronic signature of the person authorized to perform those acts, together with all other information required to be included by other applicable law, is attached to or logically associated with the signature or record.
Comment
(a) If a law requires that a record be retained, the requirement is satisfied by retaining an electronic record of the information in the record which:
(1) accurately reflects the information set forth in the record after it was first generated in its final form as an electronic record or otherwise; and
(2) remains accessible for later reference.
In a proceeding, evidence of a record or signature may not be excluded solely because it is in electronic form.
Source: UNCITRAL Model Law on Electronic Commerce Article 9.
Comment
Like Section 7, this section prevents the nonrecognition of electronic records and signatures solely on the ground of the media in which information is presented.
In an automated transaction, the following rules apply:
(1) A contract may be formed by the interaction of electronic agents of the parties, even if no individual was aware of or reviewed the electronic agents’ actions or the resulting terms and agreements.
(a) Unless otherwise agreed between the sender and the recipient, an electronic record is sent when it:
(1) is addressed properly or otherwise directed properly to an information processing system that the recipient has designated or uses for the purpose of receiving electronic records or information of the type sent and from which the recipient is able to retrieve the electronic record;
(2) is in a form capable of being processed by that system; and
(a) In this section, “transferable record” means an electronic record that:
(1) would be a note under [Article 3 of the Uniform Commercial Code] or a document under [Article 7 of the Uniform Commercial Code] if the electronic record were in writing; and
(2) the issuer of the electronic record expressly has agreed is a transferable record.
[Each governmental agency] [The [designated state officer]] of this State shall determine whether, and the extent to which, [it] [a governmental agency] will create and retain electronic records and convert written records to electronic records.]
Comment
See Comments following Section 19.
[(a) Except as otherwise provided in Section 12(f), [each governmental agency] [the [designated state officer]] of this State shall determine whether, and the extent to which, [it] [a governmental agency] will send and accept electronic records and electronic signatures to and from other persons and otherwise create, generate, communicate, store, process, use, and rely upon electronic records and electronic signatures.