Article VI, Section 29. [Lending public credit and subscribing to stock or bonds
forbidden -- Exception.]
(1) Neither the State nor any county, city, town, school district, or other political
subdivision of the State may lend its credit or, except as provided in Subsection (2), subscribe to
stock or bonds in aid of any private individual or corporate enterprise or undertaking.
(2) Except as otherwise provided by statute, the State or a public institution of
post-secondary education may acquire an equity interest in a private business entity as
consideration for the sale, license, or other transfer to the private business entity of intellectual
property developed in whole or in part by the State or the public institution of post-secondary
education, and may hold or dispose of the equity interest.
No History for Constitution
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Last revised: Thursday, May 28, 2009