Chap. 130.—An ACT to amend and re-enact section 2823 of chapter 130 of the
code of Virginia, 1887, in relation to interest.

Approved January 23, 1896

1. Be it enacted by the general assembly of Virginia, That sec-
tion two thousand eight hundred and twenty-three of chapter one
hundred and thirty of the code of Virginia be amended and re-
enacted so as to read as follows:

§ 2823. Excess over legal interest may be recovered back.—If an
excess beyond the lawful interest be paid in any case, the person
paying the same may, in a suit brought within one year thereafter,
recover it from the person with whom the contract was made or to
whom the assurance was given; and it may be so recovered from
such person, notwithstanding the payment of the excess be made to
his endorsee or assignee; but where a bank or private individual has
loaned money at a greater rate of interest than six per centum per
annum, and permits the maker of the note to renew the same at the
rate of six per centum per annum, the maker and endorsers shall
be barred from the plea of usury, after twelve months from date of
renewal.

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