CHAP. 328.—An ACT to amend and re-enact section 26 of chapter 8 of an
act entitled ‘‘an act concerning the bureau of insurance and insurance,
guaranty, trust, indemnity, fidelity, security, and fraternal ‘benefit
companies, associations, societies, and orders, and imposing penalties
for its violation,’ approved March 9, 1906, as amended by an act
approved March 12, 1908, and further to provide for the recognition
of instruments revoking the powers of agents of surety, guaranty,
fidelity or security companies who have been authorized by power of
attorney to act for such companies.

Approved March 14, 1912.

1. Be it enacted by the general assembly of Virginia, That
section twenty-six of chapter eight of an act entitled “an act con-
cerning the bureau of insurance, and insurance, guaranty, trust,
indemnity, fidelity, security and fraternal benefit companies,
associations, societies and orders, and imposing penalties for
its violation,” approved March ninth, nineteen hundred and
six, as amenedd by an act approved March twelfth, nineteen
hundred and eight, be amended and re-enacted with additions
so as to read as follows:

§26. Any bond or obligation executed, either heretofore
or hereafter, in the name and on behalf of a surety, guar-
anty, fidelity or security company, as surety, under authority
of a power of attorney by an attorney, or attorneys in fact
thereunto duly authorized, shall, whether the seal of the com-
pany or the seal of the attorney or attorneys in fact, or a
scroll by way of seal, be thereto affixed or not, have the same
force, effect and validity, and be in all respects as binding upon
the company in the name and on behalf of which it is executed,
as if executed by the company itself through its proper offi-
cers in due and formal manner, under its common seal. Such
powers of attorney, unless the same be special and limited to
one, or definitely stated transactions, shall be duly acknowl-
edged for recordation and recorded in the county or corporation,
or counties and corporations, in which the powers delegated by
them are to be exercised; and the powers of an attorney or
attorneys in fact to bind the principal within the scope of the
authority conferred by such a power of attorney (if the same
be not in terms, or tenor, otherwise limited) shall continue un-
til the expiration of the time limited in the power of attor-
ney for the continuance of such agency or the powers so granted
or revoked by an instrument of writing executed under tne
seal of the company and duly acknowledged for recordation and
submitted to record in the county or corporation in which the
power of attorney is of record, it being hereby further provided,
that such instruments of revocation shall be recordable instru-
ments, to be recorded in the deed books upon such acknowl-
edgment as is prescribed by law for the acknowledgment of
deeds for recordation, and the admission to record thereof shall
constitute notice to all concerned of the revocation of the powers
revoked by them. When such a power of attorney. has been
revoked as hereinbefore provided, it shall be the duty of the
clerk in whose office the same is recorded to note the fact of
its revocation on the margin of the deed book adjacent to the
record of the power of attorney, together with a reference to
the book and page where the instrument of revocation is re-
corded; and he shall index the instrument of revocation, both
in the name of the principal and of the agent.