Article XV
Sec. 1: Corporations may be formed under general laws
;, but shall not be created by special act, except for municipal purposes. All laws passed pursuant to this section may bealtered,amended, altered or repealed. But the Legislature may, by a vote of two-thirds of the members elected to each House, create a single bank, with branches.Sec. 2: No general banking law
or law for banking purposes, or amendments thereof,shall have effect until the same shall, after its passage, be submitted to a vote of the electors of the State,at a general election, and be approved by a majority of the votes cast thereon at such election.Sec. 4: For all banks organized under general laws, the legislature shall provide
by lawfor the registry of all bills or notes issued or put in circulation as money, and shall require security to the full amount of notes and bills so registered in State or United States stocks, bearing interest, which shall be deposited with the State Treasurer,for the redemption of such bills or notes, in specie.
