SECTION 254

Examination of banks by public officers; semiannual reports by banks.

The legislature shall by appropriate laws provide for the examination, by some public officer, of all banks and banking institutions and trust companies engaged in banking business in this state; and each of such banks and banking companies or institutions shall, through its president, or such other officer as the legislature may designate, make a report under oath of its resources and liabilities at least twice a year.