Notary Public Services

97-0428 / May 1997
Notary Public Services

Yvonne Marshall, Manager
Firestone Lake Charles
Federal Credit Union
P.O. Box 859
Sulphur, LA 70664-0859

Re: Notary Public Services (Your Letter of April 21, 1997)

Dear Ms. Marshall:

You have asked whether it is permissible for your federal credit union (FCU) to divide the fees collected for notarial services provided to members by an FCU employee between the employee and the FCU. The FCU paid for the notary public course and books; the employee paid for the requisite bond, insurance and filing fees.

Absent a state law prohibiting such arrangements, this arrangement is permissible. Neither the Federal Credit Union Act nor NCUA's Rules and Regulations address employment practices of this nature. We suggest that you consult with your own attorney regarding whether this is permissible under state law. You may also want to consult with the state or local office or agency that licenses notaries.

Sincerely,

/s/

Sheila A. Albin
Associate General Counsel

GC/MSC:sg
SSIC 4060
97-0428

Last modified on
01/06/21