Iowa Constitution
Article VIII - CORPORATIONS.
§ 7 Specie basis.
If a state bank be
established, it shall be founded on an actual specie basis, and the
branches shall be mutually responsible for each other’s liabilities upon
all notes, bills, and other issues intended for circulation as
money.*
*Codified Iowa Constitution, Art. VIII, §6 – 11 apply to banks of issue only, see 63 Iowa 11, 220 Iowa 794, and 221 Iowa 102
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