38.2-2417 - Continuance of power; revocation. - Virginia Statutes

§ 38.2-2417. Continuance of power; revocation.

The power of an attorney-in-fact to bind the fidelity and surety insurer assurety within the authority conferred by a power of attorney recordedpursuant to subsection A of § 38.2-2416, shall, unless the power of attorneyis otherwise limited, continue for the agency until the expiration of thepower of attorney or until the power is revoked by the insurer's sealedwritten instrument duly acknowledged for recordation and admitted to recordin the county or corporation in which the power of attorney is recorded.

(Code 1950, § 38-340; 1952, c. 317, § 38.1-654; 1986, c. 562; 2004, c. 357.)