Usury

Select dates to read amendment and select a date from the dropdown to compare the changes.

Usury

Summary: Repeal

Election Date: May 23, 1872

Votes For Ratification: 40166

Votes Against Ratification: 21236

Percent for Ratification: 65%

Percent Against Ratification: 35%

Notes:

Amendment Source: 1872 Chap 164

Effective Date Source:

Usury

Upon debts hereafter contracted it shall be lawful to receive any rate of interest, not exceeding twelve per centum 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.

Summary: New unnumbered section

Election Date: July 6, 1869

Votes For Ratification: 210585

Votes Against Ratification: 9136

Percent for Ratification: 96%

Percent Against Ratification: 4%

Notes:

Amendment Source: 1870 Virginia Constitution

Effective Date Source: