(a) Any person may, but shall not be required to, accept or agree to be bound by an electronic record which is:
(1) Executed or adopted with an electronic signature; and
(2) Witnessed or notarized using an electronic signature, when that acceptance or agreement is otherwise required to be witnessed or notarized.
(b) When a person or other entity accepts or agrees to be bound by an electronic record as provided in this section, then any rule of law which requires:
(1) A record of that type to be in writing, shall be deemed satisfied;
(2) A signature, shall be deemed satisfied; and
(3) A witness or notary, shall be deemed satisfied by the electronic signature of the witness or notary.