                                 CODE OF VIRGINIA

WHO MAY CONFESS JUDGMENT (§ 8.01-435)

Confession of judgment under the provisions of § 8.01-432 may be made either by
the debtor himself or by his duly constituted attorney-in-fact, acting under and
by virtue of a power of attorney duly executed and acknowledged by him as deeds
are required to be acknowledged, before any officer or person authorized to take
acknowledgments of writings to be recorded in this Commonwealth, provided,
however, that any power of attorney incorporated in, and made part of, any note
or bond authorizing the confession of judgment thereon against the makers and
endorsers in the event of default in the payment thereof at maturity need not be
acknowledged, but shall specifically name therein the attorney or attorneys or
other person or persons authorized to confess such judgment and the
clerk&#8217;s office in which the judgment is to be confessed.
		The payee, obligee, or person otherwise entitled to payment under any note or
bond may appoint a substitute for any attorney-in-fact authorized to confess
judgment that is specifically named in such note or bond, by specifically naming
the substitute attorney-in-fact in an instrument appointing the substitute
attorney-in-fact. Such instrument shall be recorded and indexed according to law
in the clerk&#8217;s office where judgment is to be confessed by the terms of
such note or bond, and a clerk&#8217;s fee for such recording shall be paid as
set out in § 17.1-275. If such note or bond does not contain a notice informing
the debtor that a substitute attorney-in-fact may be appointed by the payee,
obligee, or person otherwise entitled to payment under the note or bond, then
within 10 days after the instrument appointing the substitute attorney-in-fact
is recorded, the person appointing the substitute attorney-in-fact shall send
notice of the appointment by certified mail to the debtor&#8217;s last known
address as it appears in the records of the person appointing the substitute
attorney-in-fact.

HISTORY: Code 1950, § 8-359; 1977, c. 617; 2012, cc. 31, 118.