If any company organized and incorporated under the laws of this Commonwealth, or of any other state in the United States, or of any foreign country, for the purpose of transacting business as surety on obligations for persons, after having complied with the requirements of law regulating the admission of such companies in this Commonwealth, shall give any power of attorney, general or special, under its regular corporate seal, to any agent or attorney in fact to sign its corporate name as surety to any obligation, official or otherwise, required by the laws of this Commonwealth, or by any judge, court or other public officer, organization or board, and such power of attorney shall state that such signing by such agent or attorney in fact without the seal of such corporation shall have the same force and effect as if the corporate seal of such corporation was affixed to such obligations, then any and all such obligations, so signed by such agent or attorney in fact without the seal of such corporation, whether the agent or attorney in fact has used a scroll by way of seal or not, or whether the word “seal” is used in the body of the instrument or not, shall, for all purposes, have the same force and effect, and be as binding in all respects upon such corporation, as if the seal of such corporation had been duly and regularly affixed thereto.

History

Code 1919, § 285.