CHAP. 32.—JOINT RESOLUTIONS Agreeing to an Amendment to the
Constitution of Virgiaia, in Relation to the Clause in respect to and
entitled “ Usury,” and Directing a Submission of said Proposed Amend-
ment to the People, for their Approval and Ratification.

Agreed to January 12, 1872.

Whereas, certain joint resolutions proposing an amendment
to the constitution of Virginia, in relation to the clause in re-
spect to and entitled usury, and providing for the publication
of the said amendment, and for the communication of a copy
thereof and of the said resolutions to this general assembly,
were adopted by the senate and house of delegates of the last
general assembly (a majority of the members elected to each
of the two houses having agreed thereto); and whereas, in
accordance with said resolutions, a certified copy of said
amendment and of said resolutions, together with a certificate
of publication, by the publisher of the newspaper in which
the said proposed amendment has been published, that the
said amendment has been published for three months previous
to the time of choosing the senators and members of the house
of delegates of this ecneral assembly: therefore,

1. Resolved by the senate and house of delegates of this
general assembly (a majority of the members elected to each
of the two houses agreeing thereto), That the following amend-
ment to the constitution of Virginia be and the same is hereby
agreed to, which said amendment shall be submitted to the
people, in a manner hereafter to be prescribed, for their ap-
proval and ratification, in conformity with the provisions of
article twelve of said constitution, viz:

Strixe out from the constitution of the State of Virginia the
clause in reference to usury, which is in these words:

“Usury.—Upon debts hereafter contracted it shall be lawful
to receive any rate of interest, not exceeding twelve per cen-
tum per annum, which may be agreed upon by the parties and
be specified in the bond, note, or other writing evidencing the
debt. When there is no such agreement, the rate of interest
shall be six per centum per annum for the use and forbearance
of every hundred dollars.”

Chap, 33.—An ACT to Amend the Second Section of an Act entitled
‘An Act Incorporating the Protestant Episcopal Theolvgical Seminary
and High School in Virginia,” passed February twenty-eight, eighteen
hundred and fifty-four.

Approved Jantary 23, 1872.

1. Be it enacted by the general assembly of Virginia, That
section second of an act entitled “‘an act incorporating the
Protestant Episcopal Theological Seminary and High School
in Virginia,” passed February twenty-eighth, eighteen hundred
and fifty-four, be amended and re-enacted so as to read as
follows ;

“$ 2. The said trustees and their successors shall have power
to appoint a president, treasurer, secretary, professors, tutors.
and such other officers as they may deem proper, and to make
and establish, from time to time, such by-laws, rules and reeu-
lations, not contrary to the laws of this state or of the United
States, as they may judge to be proper for the good govern-
ment of said institution. A majority of the trustces shall con-
stitute a board for the transaction of business; and any vacancy
or vacancies amongst the trustees, occasioned by death, resig-
nation, or other cause, declared by the by-laws to be sufficient
to create a vacancy, shall be supplied by appointment of the
board.”

2. This act shall be in force from its passage.