Paperless Loans and Check21 (Imaging)

[Guest halka]

Wondering if someone has researched or opined on this.... Participant Loan agreements (NOT Application) are essentially a long check stub which participant accepts by endorsing the check. Under new Check21 processing, the physical check is not returned to the issuer -- just a digital image of the check.

Is there any ERISA rule or precedent that makes relying on the digital image of the endorsement (as opposed to having the "original" signature) a problem?? I believe our state law has already been modified to generally make digital images acceptable proof of execution.

Thanks for any thoughts or cites.