§ 1: Banking laws. No bank shall be established otherwise than under a general banking law, nor be operated otherwise than by a duly organized corporation.
§ 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.
§ 3: Eliminated by revision.
§ 4: Eliminated by revision.
§ 5: Transferred and renumbered as § 2 by revision.