Subcommittee restores uniform-power-of-attorney language after court ruling

Delegate Simon said HB 929 returns Virginia to conformity with the Uniform Power of Attorney Act after a court decision raised questions about the state's earlier modification. Banking representatives told the committee the change is needed to preserve the good-faith acceptance framework that encourages institutions to rely on acknowledged powers of attorney.

Matt Bruning of the Virginia Bankers Association described the Harwood v. Chinchilla decision as a surprise and said banks support restoring the uniform-act language. Steve Burns of the Virginia Academy of Elder Law Attorneys cautioned that adding the word "purportedly" to the definition of "acknowledged" raised practical concerns about forcing banks or other parties to do additional due diligence or, alternatively, permit clearly forged documents to receive good-faith protection.

After debate and responses from the patron, the subcommittee voted to report HB 929 by a unanimous roll call. The bill will go to the full committee for consideration.