CHAPTER 217 - CONVEYANCES

AN ACT IN RELATION TO THE EXECUTION AND ACKNOWLEDGMENT OF DEEDS, POWERS OF ATTORNEY, AND OTHER INSTRUMENTS OF WRITING FOR THE HOME OWNERS' LOAN CORPORATION AND THE EFFECT THEREOF.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:

Section 1. Deeds concerning lands or tenements, releases from the lien of any judgment, or mortgage, powers of attorney to individuals to satisfy mortgages, or any other written instruments entitled to be recorded, executed by the Home Owners' Loan Corporation, a corporation of the United States of America, may be executed and acknowledged before the Chancellor, or any Judge of this State, or a Judge of the District Court of the United States, or a Notary Public, or two Justices of the Peace of the same County, by the Regional Manager of the Home Owners' Loan Corporation, or Regional Treasurer thereof, provided there is recorded in the Recorder's Office in the County wherein any instrument executed and acknowledged as aforesaid, is entitled to be recorded, a Resolution of the Managing Board of such Corporation, showing the appointment by name of the Regional Manager and Regional Treasurer, duly certified to under the hand of the Chairman of the Board, attested by the Secretary, with the seal of the Corporation thereto attached, and acknowledged in the same manner and form as other recorded corporate instruments. The said Resolution may be kept on file by the Recorder of Deeds, and the same shall be indexed and recorded in the same way and manner as provided by law in the case of Commissions of Notaries for the State of Delaware. The Resolution, certified and acknowledged as aforesaid, concerning the named appointments of Regional Manager and Regional Treasurer shall be binding on the said Home Owners' Loan Corporation until revoked or cancelled by the Recording, in said Recorder's Office, of a Resolution of the Managing Board of the Home Owners' Loan Corporation, duly executed, certified to and acknowledged in the same manner and form as the appointment.

When any mortgage shall have been satisfied pursuant to a power of attorney executed by the Regional Manager or Regional Treasurer in the name of the Home Owners' Loan Corporation, in accordance with the provisions contained in paragraph 1 of this Section, the said mortgage Or conveyance shall be extinguished.

Any deed or conveyance of lands and tenements, or any release of the lien of a Mortgage or Judgment, executed by the Regional Manager or Regional Treasurer for the said Home Owners' Loan Corporation, after a full compliance with paragraph 1 of this Section, shall have the same effect as though the said Instrument had been executed in full compliance with Chapter 92, Section 9, of the Revised Code of Delaware, 1915.

Approved April 15, 1935.