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Section 5: Errors and Omissions (E&O) Insurance On the other hand, Errors & Omissions insurance, commonly known as “E&O” insurance, insures the notary against his/her own mistakes. E&O insurance will pay amounts for which the notary is obligated by reason of liability for breach of duty that involves any negligent act, error or omission alleged or committed by the insured notary, arising out of the performance of notarial services. Of course, any dishonest, fraudulent, criminal, libellous, slanderous or malicious act or omission is excluded from this protection. Example: A notary inadvertently neglects to document a client’s identification and is later accused of notarizing a fraudulent signature. E&O insurance protects the notary against a lawsuit up to the insurance cap. E&O insurance protects you — the notary — if a claim is made against you. The smallest, most innocent mistake can be very costly to your client. Even if you made no errors, you could easily be accused of making a mistake. Can you afford a lawsuit because you made an innocent mistake, or have to defend an accusation? PROTHONOTARY AND RECORDER OF DEEDS REGISTRATION After a notary public receives the completed bond form from the surety company, the notary public must take the oath and record the bond, commission and oath in the proper recorder of deeds office within 45 days after appointment or reappointment. Once these requirements are met, the recorder of deeds issues the commission and wallet card to the notary. Afterwards, the notary must register his or her signature with the prothonotary of the county where the notary maintains an office within 45 days after appointment or reappointment, and in the county to which the notary may subsequently move his or her office within 30 days thereafter. The notary public may be charged a fee of fifty ($.50) cents for the registration of his or her signature by the prothonotary. The notary must sign his or her name exactly and only as it appears on the commission. In counties of the second class (counties having a population of 800,000-1,500,000, such as Allegheny County Department of Real Estate or Philadelphia’s Commission of Records), the notary’s signature must also be registered in the proper office of the clerk of courts. If these requirements are not met within the 45 day period, the commission becomes null and void. Applicants must then begin the process again by submitting a new application and the $40.00 application fee for appointment to a new commission and a new appointment date. The $40.00 application fee is non-refundable and may not be applied to a new application after the 45 day period has expired. If the steps for the application, bonding, recording and oath taking have been properly completed, the notary commission expires four years after the date of appointment. Section Review
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