SS SB 220 -- UNIFORM ELECTRONIC TRANSACTIONS ACT

SPONSOR:  Kinder (Liese)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Banks and
Financial Institutions by a vote of 20 to 0.

This substitute enacts the provisions of the Uniform Electronic
Transactions Act, which makes electronic transactions as
enforceable as traditional paper transactions if the parties
agree to transact electronically, as long as certain procedural
requirements are met.  The substitute allows electronic
transactions and electronic signatures to be legally binding for
contracts in courts.  For public or private documents that are
required to be retained, electronic records could be retained in
lieu of paper records, unless specifically prohibited by law.
The substitute still requires manual execution of certain
documents, including wills, codicils, or testamentary trusts, as
well as certain other documents as specified by the Uniform
Commercial Code.

Also, the substitute repeals the current Missouri Digital
Signatures Act contained in Sections 28.600 through 28.678, RSMo.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that the bill would bring public
entities in Missouri and persons transacting business wholly
within Missouri into compliance with the recently passed federal
law which already allows such electronic transactions to occur
in interstate commerce.  Supporters also state that the bill
only applies to parties agreeing to contract electronically,
thus mitigating any potential confusion which might otherwise
occur.

Testifying for the bill were Senator Kinder; Missouri Bar
Association; and Office of the Secretary of State.

OPPONENTS:  There was no opposition voiced to the committee.

Greg Linhares, Legislative Analyst

Missouri House of Representatives
Last Updated November 26, 2001 at 11:47 am