Savings bank charters; restrictions on trustees; special charters not to be granted
Official text rightpowerlimitif conditionlegal term
The legislature shall, by general law, conform all charters of savings banks, savings and loan associations, or institutions for savings, to a uniformity of powers, rights and liabilities, and all charters hereafter granted for such corporations shall be made to conform to such general law, and to such amendments as may be made thereto. The legislature shall have no power to pass any act granting any special charter for banking purposes; but corporations or associations may be formed for such purposes under general laws.
Simplified explanation
The legislature must, by general law, give all savings bank and savings institution charters uniform powers, rights and liabilities. It may not grant any special charter for banking purposes, but banking corporations may be formed under general laws.