Chap. 304.—An ACT to amend the Code of Virginia by adding thereto a new
section numbered 3775 (1), relating to the voluntary retirement of Members
of the State Corporation Commission and to the payment of retirement com-
pensation to persons who so retire. [S 185]

Approved March 17, 1948

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia be amended by adding thereto a
new section numbered Thirty-seven Hundred and Seventy-five
(one), as follows: .

Section 3775 (1) Any member of the State Corporation Com-
mission may retire therefrom at any time after having served
twenty-five (25) consecutive years as a Member thereof, upon giv-
ing the Governor notice in writing of his intention so to do, stating
in such notice the date upon which such retirement will become
effective. Upon receipt of such notice, the Governor shall notify
the Comptroller of such retirement and the effective date of the
same.

Any member of the Commission retiring under the provisions
of this section shall, after such retirement and for so long as he
may live, be paid by the State, out of the general funds in the State
treasury, or out of such funds as shall be appropriated for the pur-
pose, annual compensation in an amount equal to three-fourths
(3%4) of the annual salary being received by him immediately prior
to his retirement; such compensation shall be paid by the State
Treasurer in monthly or semi-monthly installments, upon warrants
of the Comptroller.

Vacancies caused by such retirements shall be filled in the
manner prescribed by law for filling vacancies otherwise occurring
on the Commission, but no vacancy shall be deemed to exist on
the Commission because of the death of any person in retirement,
pursuant to the provisions of this section.