Posted by Steven Macri on 12/30/13 1:20pm
Msg #497285

Financial Interest

I work in the finance industry (hedge fund) and my employer wants me to become a notary to make the signing of documents easier. From Florida's Notary Public Law:

"(12) A notary public may not notarize a signature on a document if the notary public has a financial interest in or is a party to the underlying transaction; however, a notary public who is an employee may notarize a signature for his or her employer, and this employment does not constitute a financial interest in the transaction nor make the notary a party to the transaction under this subsection as long as he or she does not receive a benefit other than his or her salary and the fee for services as a notary public authorized by law. For purposes of this subsection, a notary public who is an attorney does not have a financial interest in and is not a party to the underlying transaction evidenced by a notarized document if he or she notarizes a signature on that document for a client for whom he or she serves as an attorney of record and he or she has no interest in the document other than the fee paid to him or her for legal services and the fee authorized by law for services as a notary public."


I am a salaried employee, but I am eligible for year-end bonuses, which may be impacted by the transactions I potentially would notarize. Am I legally allowed to notarize such transactions?

Reply by Teresa/FL on 12/30/13 1:42pm
Msg #497289

Will you be notarizing other employee's signatures or clients' signatures? It sounds to me like you would be notarizing signatures as an employee in the regular course of your business day, which would be allowed according to the portion of the statute you quoted.

If in doubt, check with the Florida SOS Notary Division.

Reply by MW/VA on 12/30/13 1:52pm
Msg #497291

IMO, the "financial interest" scenario probably doesn't

apply in this situation. Again, IMO it more specifically means notarizing a will in which you stood to gain financially, etc., meaning a direct financial interest.
Again, look to your FL notary laws or call your SOS with the question. I would not go to the NNA for advise on this.

Reply by Linda_H/FL on 12/30/13 2:01pm
Msg #497292

Re: Financial Interest....*I* think

that if you'll be notarizing the signatures of other people in your office or their clients, then you'd be okay. However, if you have to sign off on the paperwork for YOUR clients (those you sign up, so to speak, like a loan originator does) and you notarize THEIR signatures, you may potentially have a conflict of interest in that scenario (obviously you wouldn't be able to notarize your own signature).

Maybe, to avoid issues, you can explain the potential conflict to your boss and suggest he/she have 2 of you commissioned so a co-worker can notarize those YOU handle and you can do the others.

Reply by MW/VA on 12/30/13 6:34pm
Msg #497315

Good suggestion, Linda, as always. ;-) n/m