N.M. Admin. Code § 1.12.7.12

Current through Register Vol. 35, No. 24, December 23, 2024

Section 1.12.7.12 - TRANSACTION-BASED NEED FOR A SIGNATURE

If there is no legal requirement for a signature on a particular type of transaction a state agency may undertake a further analysis to evaluate the desirability of incorporating a signature requirement into the transaction. An electronic signature may be desirable, even when not legally required, where there is a:

A. Need for emphasizing the seriousness of the transaction. A signature may serve to reinforce the significance of the undertaking to the party involved. It gives the transaction a more formal tone, and helps to drive home to the signing party the seriousness of what is being undertaken.

B. Need for binding a party to the transaction. If the transaction involves an intent element (e.g., agreement, approval, acknowledgment, receipt, witnessing, etc.), a signature may be useful to help formally bind a person to that reason for signing and make it more likely to be enforced (e.g., to mitigate concerns regarding repudiation).

N.M. Admin. Code § 1.12.7.12

Adopted by New Mexico Register, Volume XXVI, Issue 13, July 15, 2015, eff. 7/1/2015