Westchester Chapter, Civil Service Employees Ass'n v. Levitt

There are two issues raised by appellants, and those only are considered by the court. The first is whether the nonimpairment clause of the State Constitution (art V, § 7) bars the statutory provisions permitting the State Comptroller to act in a dual capacity as the seller of State obligations on behalf of the State and the buyer of such obligations as the "trustee” of the funds of a retirement system. The second is whether, apart from express constitutional provi*521sions, the Legislature was powerless to invest the State Comptroller with powers involving an inevitable conflict of interest.

The…