6.2-917 - (Effective October 1, 2010) Execution of powers of sale by receivers.
§ 6.2-917. (Effective October 1, 2010) Execution of powers of sale byreceivers.
A. When any receiver is appointed under the provisions of this article forany bank authorized to do a trust business or for any trust company, thereceiver may be empowered by the court by which he is appointed:
1. To act for and on behalf of such bank or trust company in the execution ofany power of sale conferred upon such bank or trust company by any instrument;
2. When such sale is made, to execute, acknowledge and deliver for and onbehalf of such bank or trust company such deed as may be proper under theprovisions of such instrument for the conveyance of title to the propertyconveyed therein; and
3. Upon 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.
B. Any such sale made by such receiver and any such deed or release executedby him, when so authorized and empowered, shall be as effective and asbinding as if the same had been made or executed by such bank or trustcompany before the appointment of such receiver.
C. All sales that have been made by any such receivers within theCommonwealth, and all such deeds and release deeds that have been executed byany such receivers within the Commonwealth under the authority of the courtby which they were appointed, since June 19, 1936, shall be as effective andas binding as if the same had been made by such bank or trust company beforethe appointment of such receiver.
(Code 1950, § 6-117; 1966, c. 584, § 6.1-103; 2010, c. 794.)