Virginia Code 62.1-213: Validity of signatures of prior members or officers
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In the event that any of the members of the board of directors or any officers of the Authority cease to be members or officers before the delivery of any bonds or credit enhancements signed by them, their signatures or authorized substitute signatures shall nevertheless be valid and sufficient for all purposes as if the members or officers had remained in office until delivery.
Terms Used In Virginia Code 62.1-213
- Authority: means the Virginia Resources Authority created by this chapter. See Virginia Code 62.1-199
- Board of Directors: means the Board of Directors of the Authority. See Virginia Code 62.1-199
- Bonds: means any bonds, notes, debentures, interim certificates, bond, grant or revenue anticipation notes, lease and sale-leaseback transactions, or any other obligations of the Authority for the payment of money. See Virginia Code 62.1-199
- Credit enhancements: means surety bonds, insurance policies, letters of credit, guarantees, and other forms of collateral or security. See Virginia Code 62.1-199
1984, c. 699; 1998, c. 399.