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Part Two The Indiana Constitution and Commentary, Art.XI Corporations

From: The Indiana State Constitution

William P. McLauchlan

From: Oxford Constitutions (http://oxcon.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 18 May 2021

The General Assembly shall not have power to establish, or incorporate, any bank or banking company, or moneyed institution, for the purpose of issuing bills of credit, or bills payable to order or bearer, except under the conditions prescribed in the Constitution. This provision of the constitution prevents the creation of individual or idiosyncratic financial institutions by specifically prohibiting the establishment of banks by the General Assembly, unless they meet the conditions and requirements spelled out in the constitution (IC 28-1-1-1 et seq.). This...
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