                                 CODE OF VIRGINIA

ACCEPTANCE OF AND RELIANCE UPON ACKNOWLEDGED POWER OF ATTORNEY (§ 64.2-1617)

A. For purposes of this section and &#xA7; 64.2-1618, &#8220;acknowledged&#8221;
means verified before a notary public or other individual authorized to take
acknowledgments.

B. A person that in good faith accepts an acknowledged power of attorney that
has been signed in accordance with &#xA7; 64.2-1603 without actual knowledge
that the power of attorney is void, invalid, or terminated, that the purported
agent&#8217;s authority is void, invalid, or terminated, or that the agent is
exceeding or improperly exercising the agent&#8217;s authority may rely upon the
power of attorney as if the power of attorney were genuine, valid, and still in
effect, the agent&#8217;s authority were genuine, valid, and still in effect,
and the agent had not exceeded and had properly exercised the authority. The
preceding sentence shall not apply to an acknowledged power of attorney that
contains a forged signature of the principal.

C. A person that is asked to accept an acknowledged power of attorney may
request, and rely upon, without further investigation, any or all of the
following:

   1. An agent&#8217;s certification under oath of any factual matter concerning
   the principal, agent, or power of attorney;

   2. An English translation of the power of attorney if the power of attorney
   contains, in whole or in part, language other than English; and

   3. An opinion of the counsel for the principal or the agent, or the opinion of
   counsel for the person, as to any matter of law concerning the power of
   attorney if the person making the request provides in a writing or other
   record the reason for the request.

D. An English translation or an opinion of counsel for the principal or the
agent requested under this section shall be provided at the principal&#8217;s
expense.

E. An agent&#8217;s certification, an English translation, or an opinion of
counsel shall be in recordable form if the exercise of the power requires
recordation of any instrument under the laws of the Commonwealth.

F. For purposes of this section and &#xA7; 64.2-1618, a person that conducts
activities through employees and exercises commercially reasonable procedures to
communicate information concerning powers of attorney among its employees is
without actual knowledge of a fact relating to a power of attorney, a principal,
or an agent if the employee conducting the transaction involving the power of
attorney has followed such procedures and is nonetheless without actual
knowledge of the fact.

HISTORY: 2010, cc. 455, 632, § 26-90; 2012, c. 614.