If a notary stands to gain materially from a transaction, what must they do?

When a notary stands to gain materially from a transaction, they must refrain from acting as a notary. This principle is rooted in the fundamental duty of notaries to act impartially and to avoid any conflicts of interest that could compromise their objectivity and integrity. If a notary has a personal stake in a transaction, it creates a potential for bias or the appearance of coercion, which can undermine the trust that is essential in notarization.

By stepping away from the notarial act in such situations, the notary ensures that all parties involved can be confident in the authenticity of the transaction and in the impartiality of the notarization process. This is crucial in maintaining the public's trust in notarial services and adhering to the ethical standards established for notaries.

While transparency with all parties involved might seem like a responsible action, it does not sufficiently resolve the inherent conflict of interest. Simply proceeding with the act or charging a higher fee would not address the ethical implications associated with profiting from a transaction in which one is also acting in a fiduciary capacity. Thus, refraining from the notarial act is the appropriate course of action.