§ 38.2-2420. Bonds executed under power of attorney binding on insurer
Any bond or obligation executed in the name and on behalf of the insurer as surety under the authority of the power of attorney shall have the same force, effect and validity, and shall be as binding upon the insurer in the name and on behalf of which it is executed as if it were properly executed by the insurer itself through its officers under its common seal. For the purpose of this section, the seal of the insurer or the seal of the attorney-in-fact shall not be required to be affixed to the bond or obligation.
(Code 1950, § 38-338; 1952, c. 317, § 38.1-657; 1986, c. 562.)Sections: Previous 38.2-2408 38.2-2409 38.2-2410 38.2-2411 38.2-2412 38.2-2412.1 38.2-2412.2 38.2-2413 38.2-2414 38.2-2415 38.2-2416 38.2-2417 38.2-2418 38.2-2419 38.2-2420
Last modified: April 3, 2009