§ 2. State not to be stockholder.The state shall not be a stockholder in any banking institution, except that any retirement or pension plan authorized pursuant to the laws of this state may be a stockholder in any banking institution.

History: Adopted by convention, July 29, 1859; ratified by electors, October 4, 1859; L. 1861, p. 62; L. 1923, ch. 255, § 1; L. 1963, ch. 459, § 1; L. 1974, ch. 460, § 1; L. 1985, ch. 364, § 1; L. 1992, ch. 342, § 1; November 3, 1992.

Revisor's Note:

Prior to 1980 revision, section related to security for redemption of circulating notes.