§ 7004. — Applicability to Federal and State governments.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC7004]
TITLE 15--COMMERCE AND TRADE
CHAPTER 96--ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE
SUBCHAPTER I--ELECTRONIC RECORDS AND SIGNATURES IN COMMERCE
Sec. 7004. Applicability to Federal and State governments
(a) Filing and access requirements
Subject to subsection (c)(2) of this section, nothing in this
subchapter limits or supersedes any requirement by a Federal regulatory
agency, self-regulatory organization, or State regulatory agency that
records be filed with such agency or organization in accordance with
specified standards or formats.
(b) Preservation of existing rulemaking authority
(1) Use of authority to interpret
Subject to paragraph (2) and subsection (c) of this section, a
Federal regulatory agency or State regulatory agency that is
responsible for rulemaking under any other statute may interpret
section 7001 of this title with respect to such statute through--
(A) the issuance of regulations pursuant to a statute; or
(B) to the extent such agency is authorized by statute to
issue orders or guidance, the issuance of orders or guidance of
general applicability that are publicly available and published
(in the Federal Register in the case of an order or guidance
issued by a Federal regulatory agency).
This paragraph does not grant any Federal regulatory agency or State
regulatory agency authority to issue regulations, orders, or
guidance pursuant to any statute that does not authorize such
issuance.
(2) Limitations on interpretation authority
Notwithstanding paragraph (1), a Federal regulatory agency shall
not adopt any regulation, order, or guidance described in paragraph
(1), and a State regulatory agency is preempted by section 7001 of
this title from adopting any regulation, order, or guidance
described in paragraph (1), unless--
(A) such regulation, order, or guidance is consistent with
section 7001 of this title;
(B) such regulation, order, or guidance does not add to the
requirements of such section; and
(C) such agency finds, in connection with the issuance of
such regulation, order, or guidance, that--
(i) there is a substantial justification for the
regulation, order, or guidance;
(ii) the methods selected to carry out that purpose--
(I) are substantially equivalent to the requirements
imposed on records that are not electronic records; and
(II) will not impose unreasonable costs on the
acceptance and use of electronic records; and
(iii) the methods selected to carry out that purpose do
not require, or accord greater legal status or effect to,
the implementation or application of a specific technology
or technical specification for performing the functions of
creating, storing, generating, receiving, communicating, or
authenticating electronic records or electronic signatures.
(3) Performance standards
(A) Accuracy, record integrity, accessibility
Notwithstanding paragraph (2)(C)(iii), a Federal regulatory
agency or State regulatory agency may interpret section 7001(d)
of this title to specify performance standards to assure
accuracy, record integrity, and accessibility of records that
are required to be retained. Such performance standards may be
specified in a manner that imposes a requirement in violation of
paragraph (2)(C)(iii) if the requirement (i) serves an important
governmental objective; and (ii) is substantially related to the
achievement of that objective. Nothing in this paragraph shall
be construed to grant any Federal regulatory agency or State
regulatory agency authority to require use of a particular type
of software or hardware in order to comply with section 7001(d)
of this title.
(B) Paper or printed form
Notwithstanding subsection (c)(1) of this section, a Federal
regulatory agency or State regulatory agency may interpret
section 7001(d) of this title to require retention of a record
in a tangible printed or paper form if--
(i) there is a compelling governmental interest relating
to law enforcement or national security for imposing such
requirement; and
(ii) imposing such requirement is essential to attaining
such interest.
(4) Exceptions for actions by government as market
participant
Paragraph (2)(C)(iii) shall not apply to the statutes,
regulations, or other rules of law governing procurement by the
Federal or any State government, or any agency or instrumentality
thereof.
(c) Additional limitations
(1) Reimposing paper prohibited
Nothing in subsection (b) of this section (other than paragraph
(3)(B) thereof) shall be construed to grant any Federal regulatory
agency or State regulatory agency authority to impose or reimpose
any requirement that a record be in a tangible printed or paper
form.
(2) Continuing obligation under Government Paperwork
Elimination Act
Nothing in subsection (a) or (b) of this section relieves any
Federal regulatory agency of its obligations under the Government
Paperwork Elimination Act (title XVII of Public Law 105-277).
(d) Authority to exempt from consent provision
(1) In general
A Federal regulatory agency may, with respect to matter within
its jurisdiction, by regulation or order issued after notice and an
opportunity for public comment, exempt without condition a specified
category or type of record from the requirements relating to consent
in section 7001(c) of this title if such exemption is necessary to
eliminate a substantial burden on electronic commerce and will not
increase the material risk of harm to consumers.
(2) Prospectuses
Within 30 days after June 30, 2000, the Securities and Exchange
Commission shall issue a regulation or order pursuant to paragraph
(1) exempting from section 7001(c) of this title any records that
are required to be provided in order to allow advertising, sales
literature, or other information concerning a security issued by an
investment company that is registered under the Investment Company
Act of 1940 [15 U.S.C. 80a-1 et seq.], or concerning the issuer
thereof, to be excluded from the definition of a prospectus under
section 77b(a)(10)(A) of this title.
(e) Electronic letters of agency
The Federal Communications Commission shall not hold any contract
for telecommunications service or letter of agency for a preferred
carrier change, that otherwise complies with the Commission's rules, to
be legally ineffective, invalid, or unenforceable solely because an
electronic record or electronic signature was used in its formation or
authorization.
(Pub. L. 106-229, title I, Sec. 104, June 30, 2000, 114 Stat. 469.)
References in Text
The Government Paperwork Elimination Act, referred to in subsec.
(c)(2), is title XVII of Pub. L. 105-277, div. C, Oct. 21, 1998, 112
Stat. 2681-749, which amended section 3504 of Title 44, Public Printing
and Documents, and enacted provisions set out as a note under section
3504 of Title 44. For complete classification of this Act to the Code,
see Tables.
The Investment Company Act of 1940, referred to in subsec. (d)(2),
is title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789, as amended,
which is classified generally to subchapter I (Sec. 80a-1 et seq.) of
chapter 2D of this title. For complete classification of this Act to the
Code, see section 80a-51 of this title and Tables.
