Chap. 399.—An ACT to amend and re-enact an act to amend and re-enact Section
5553 of the Code of Virginia, approved March 24, 1930. [H B 311]

Approved March 30, 1936

1. Be it enacted by the General Assembly of Virginia, That section
fifty-five hundred and fifty-three of the Code of Virginia, be amended
and re-enacted so as to read as follows:

Section 5553. Rate allowed to bankers, brokers, corporations, and
agricultural credit corporations or associations.—Any licensed banker
or broker, and any corporation authorized by law to make loans or to
purchase or discount bonds, bills, notes or other paper, may loan money
or discount bonds, bills, notes or other paper at a rate not exceeding
one-half of one per centum for thirty days, and may charge a minimum
loan or discount fee of one dollar on loans or discounts, and may
receive such interest in advance; provided, however, that agricultural
credit corporations or associations organized under the laws of this
State may charge interest or discount on loans made for agricultural
purposes at a rate not exceeding one and one-half per centum per
annum in excess of the rate charged such agricultural credit corpora-
tions or associations by Federal intermediate credit banks, at the time
such loans are made, or said agricultural credit corporations or asso-
cilations may in their discretion charge the rate of interest prescribed
by section fifty-five hundred and fifty-one of the Code of Virginia,
nineteen hundred and thirty, and acts amendatory thereof, and in either
case, such agricultural credit corporations or associations may charge
a minimum loan or discount fee of one dollar on loans or discounts for
thirty days or more and may receive such interest or discount in either
case in advance.