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2003 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 20-155 of the Code of Virginia is amended and reenacted as follows:
§ 20-155. Marital agreements.
Married persons may enter into agreements with each other for the purpose of
settling the rights and obligations of either or both of them, to the same
extent, with the same effect, and subject to the same conditions, as provided
in §§ 20-147 through 20-154 for agreements between prospective spouses, except
that such marital agreements shall become effective immediately upon their
execution. However, If the terms of such agreement are (i) contained in a
court order endorsed by counsel or the parties or (ii) recorded and transcribed by a court
reporter and affirmed by the parties on the record personally, the agreement is
not required to be in writing and is considered to be executed. A
reconciliation of the parties after the signing of a separation or property
settlement agreement shall abrogate such agreement unless otherwise expressly set
forth in the agreement.