38.2-2420 - Bonds executed under power of attorney binding on insurer. - Virginia Statutes

§ 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 assurety under the authority of the power of attorney shall have the sameforce, effect and validity, and shall be as binding upon the insurer in thename and on behalf of which it is executed as if it were properly executed bythe insurer itself through its officers under its common seal. For thepurpose of this section, the seal of the insurer or the seal of theattorney-in-fact shall not be required to be affixed to the bond orobligation.

(Code 1950, § 38-338; 1952, c. 317, § 38.1-657; 1986, c. 562.)