6.1-103 - (Repealed effective October 1, 2010) Execution of powers of sale by receivers. - Virginia Statutes

§ 6.1-103. (Repealed effective October 1, 2010) Execution of powers of saleby receivers.

And when any receiver shall be appointed under the provisions of this articlefor any bank authorized to do a trust business or for any trust company hemay be empowered by the court by which he is appointed to act for and onbehalf of such bank or trust company in the execution of any power of saleconferred upon such bank or trust company by any instrument, and, when suchsale is made, to execute, acknowledge and deliver for and on behalf of suchbank or trust company such deed as may be proper under the provisions of suchinstrument for the conveyance of title to the property conveyed therein; andupon payment of the amount secured under any such instrument, to execute,acknowledge and deliver for and on behalf of such bank or trust company aproper release deed for the property conveyed therein. And any such sale madeby such receiver and any such deed or release executed by him, when soauthorized and empowered, shall be as effective and as binding as if the samehad been made or executed by such bank or trust company before theappointment of such receiver. And all sales which have been made by any suchreceivers within the Commonwealth of Virginia and all such deeds and releasedeeds which have been executed by any such receivers within this Commonwealthunder the authority of the court by which they were appointed, since June 19,1936, shall be as effective and as binding as if the same had been made bysuch bank or trust company before the appointment of such receiver.

(Code 1950, § 6-117; 1966, c. 584.)