(a) A person or entity shall apply for registration with the Secretary of State to be an online notarization platform or depository as prescribed by the Secretary of State. (b) An entity required to obtain a certificate of qualification from the Secretary of State in order to transact business in California shall do so before applying for registration with the Secretary of State to be an online notarization platform or depository. (c) An online notarization platform or depository shall provide security for claims against the online notarization platform or depository or the online notarization platformâs or depositoryâs representatives, or employees based upon acts, errors, or omissions arising out of the business of the online notarization platform or depository through either one or an aggregate of both of the following: (1) A policy or policies of insurance against liability imposed on or against the online notarization platform or depository by law for damages arising out of claims in an amount for each claim of at least two hundred fifty thousand dollars ($250,000). (2) In trust or bank escrow, cash, bank certificates of deposit, United States Treasury obligations, bank letters of credit, or bonds of insurance companies as security for payment of liabilities imposed by law for damages arising out of all claims in an amount of at least two hundred fifty thousand dollars ($250,000). (d) The Secretary of State shall develop an application for registration to be submitted by an applicant. The Secretary of State may refuse registration of an online notarization platform or depository for failure to conform with the application requirements. The application shall include, but not be limited to, all of the following: (1) The name and complete business or residence street address of an agent upon whom process may be served within this state if this information is not already on file with the Secretary of State. (2) A statement signed under penalty of perjury by an officer of the applicant authorized to enter into binding agreements on behalf of the applicant that the applicant shall comply with both of the following: (A) This article and any rules or regulations adopted by the Secretary of State pursuant to this article that apply to online notarization platforms or depositories. (B) The lawful properly-served process. (3) For applications to be an online notarization platform, whether the online notarization platform provides custodial services for the notary public. (4) A statement indicating that the applicant has no order, judgment, or decree entered against them in any civil or criminal action involving any of the following: (A) Fraud. (B) Material misrepresentation. (C) Any willful acts or gross negligence related to breaches of secure information required to be stored under this act. (e) Registration may be refused or canceled if the application is found to include a material misrepresentation or if the registrant subsequently has an order, judgment, or decree entered against them in any civil or criminal action as defined in paragraph (4) of subdivision (d). (f) The Secretary of State may charge a fee for an application for registration submitted pursuant to this section in an amount necessary to administer this article. (g) Only an online notarization platform that has obtained registration from the Secretary of State may provide an online notarization system for a notary public authorized to perform online notarizations while commissioned in California. (h) An online notarization platform shall take all reasonable steps to ensure that a notary public for whom it provides an online notarization system has the knowledge to use the system to perform online notarial acts in compliance with this article and any rules or regulations adopted by the Secretary of State pursuant to this article. (i) (1) An online notarization platform or depository that provides custodial services for a notary public shall not delete an onlin
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