The General Assembly at its Regular Session of 1966 passed House Joint Resolution 101 creating the Money and Interest Study Commission.

The members appointed by the President of the Senate are Leroy S. Bendheim of Alexandria, J.C. Hutcheson of Lawrenceville and William P. Kellam of Virginia Beach.

The members appointed by the Speaker of the House of Delegates are C. Hardaway Marks of Hopewell, C. W. Cleaton of South Hill and Charles K. Hutchens of Newport News.

The members appointed by the Governor are Shirley T. Holland, Edwin B. Brooks, Jr., and Ralph T. Catterall.

At its organization meeting the Commission elected C. Hardaway Marks chairman and Shirley T. Holland vice-chairman, and appointed G. M. Lapsley secretary, and Robert L. Masden Staff Attorney.

The Commission commenced its study by inviting seven experts in the field of money and finance to present evidence before a well-attended public meeting. Prepared statements were presented by Richard C. Chewning, Associate Professor of Business Administration, University of Richmond; H. Harland Crowell, Jr., President of the Virginia Real Estate Association; Kenneth I. Doran, President of the Virginia Mortgage Bankers Association; S. S. Flythe, President of the First National Bank of Martinsville and immediate past president of the Virginia Bankers Association; Glen T. Hastings, President of the Home Builders Association of Virginia; Mark W. Saurs, Executive Vice President of the Virginia Savings and Loan League; and John B. Siegel, Jr., Senior Vice President and Chairman of the Investment Committee of the Life Insurance Company of Virginia.