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Committee carries over bill to restore safe‑harbor for third parties relying on powers of attorney
Summary
After testimony from banks and business groups, the committee carried over HB929, a measure by Delegate David Simon to amend the Virginia Uniform Power of Attorney Act to address a Court of Appeals decision that narrowed good‑faith protections for lenders and title companies.
The Senate Courts of Justice Committee carried over House Bill 929 after an extended discussion about a Court of Appeals decision that, the patron said, removed a safe‑harbor for third parties who rely in good faith on powers of attorney.
Delegate David Simon, the bill’s patron, said the Court of Appeals’ interpretation of the Virginia Uniform Power of Attorney Act left banks and title companies exposed to liability when a power of…
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