A New York notary public is an employee of a corporation and is asked to notarize a document for another party within that corporation. Under §138, when is the notary disqualified from performing the notarization?
Employment status alone does not disqualify a notary from notarizing within their corporation.
Notaries can notarize for their corporation even if they are stockholders or directors.
This is correct because §138 allows notarization for corporate parties despite the notary's relationship to the corporation, but it states that the officer cannot notarize if they directly or indirectly benefit financially. Financial interest is the disqualifying factor.
Disqualification occurs only if the notary has a direct or indirect financial interest in the transaction.
Explanation
Under §138, a notary public and certain other listed officers may notarize for any party within a corporation even if they are a stockholder, director, officer, or employee of that corporation. The disqualifying condition is a direct or indirect financial benefit from the notarization or transaction. Therefore, corporate status alone does not disqualify the notary; financial interest does.
Memory Aid
Corporate role is okay; cash interest is not: 'Role allowed, profit disallowed.'