Notary public responsibilities
A notary public is an official appointed position by the Secretary of State’s department in a given state. Just like most public officials, the State requires that the person obtain a surety or notary bond before receiving the commission. This bond “makes sure” that when the official violates the public trust through negligence of their responsibilities, finances are available to reimburse the State for its loss.
The primary responsibility of notaries public is to confirm that the individual parties to a contract are who they claim to be. The State may experience a loss if the notary public fails to properly confirm the identity of the parties.
As a public official, the notary harms the public trust by failing in their responsibility to confirm identity. If a Texas notary public doesn’t confirm identity and a loss occurs, an injured party can file a claim against that State for the loss, because the State was negligent through its appointed representative.
A surety bond is a guarantee of payment to the obligee (the State) should losses occur for a penalty amount of the bond. Notary Public bonds are usually provided by a surety company (typically an insurance carrier). The bond usually runs concurrently with the term of a notary’s commission.
You’re probably familiar with a home insurance policy. If you have an Indiana home insurance claim, the insurance carrier pays the claim and writes off the loss. You aren’t required to reimburse the carrier for the damages. Unlike a property insurance policy however, a notary bond is simply a promise that the finances will be available if losses occur. The surety (insurance company) pays the State up to the penalty amount of the bond. However, this claim paid by the company is not simply written off. The carrier will most likely seek reimbursement from the bonded person, the notary themself.
A notary bond protects the public. Who protects the notary? Insurance coverage is available to provide this protection – it’s called Notary Public Errors and Omissions and may also be obtained for a nominal fee from insurance carriers.
