BANKS AND TRUST COMPANIES. 115

appointed by the Governor, and shall not be an officer or director in any
bank, State or National, savings institution or trust company. He shall
not engage in any other business and shall hold office for a term of four
years from the first Monday of May succeeding his appointment, and
until his successor is appointed and has qualified. He shall give bond
in the sum of $20, 000, to be approved by the Governor, for the faithful
performance of his duties, the cost of the bond to be charged as an expense
of the office. He shall receive in full compensation for his services an
annual salary of $10, 000 payable in monthly installments which shall be
included in the Budget Bill beginning for the fiscal year of 1938, and
thereafter; and, until such time, the difference between the amount pro-
vided by the Budget Bill and his salary as provided in this Section shall be
paid from the General Treasury of the State out of the funds realized
from the increased examination and other fees as provided for in Section
16 of this Article, as amended. He may be removed by the Governor for
incompetency or misconduct. The Bank Commissioner, under the super-
vision and directions of the Comptroller, shall have and exercise all the
rights, powers, duties, obligations and functions conferred upon him by law.

An. Code. 1924, sec. 2. 1912, sec. 2. 1910, ch. 219, sec. 2 (p. 7). 1914, ch. 805, sec. 2.

1918, ch. 33, sec. 2. 1920, ch. 268, sec. 2. 1931, ch. 294, sec. 2.

1935, ch. 499.

2. The Bank Commissioner may, appoint and remove a Deputy Bank
Commissioner who shall receive in full compensation for his services an
annual salary of seven thousand and five hundred dollars ($7, 500. 00)
payable in monthly installments, which shall be included in the Budget
Bill beginning for the fiscal year of 1938, and thereafter; and, until such
time, the difference between the amount provided in this Section shall be
paid from the General Treasury of the State out of the funds realized from
the increased examination and other fees as provided for in Section 16 of
this Article. Whenever it becomes necessary for the Bank Commissioner
to take charge of a failed banking institution, as receiver, as provided in
this Article, he may appoint such additional clerks as he may deem neces-
sary for the purpose of such receivership; the salaries of such clerks to
be paid out of the funds of the failed banking institution. The Deputy
Bank Commissioner and the office clerks shall give bond in such sums as
the Governor and the Bank Commissioner may determine for the faith-
ful performance of their respective duties, said bonds to be approved by
the Governor and the cost to be charged as expense of the office.

An. Code, 1924, sec. 4. 1912, sec. 4. 1910, ch. 219, sec. 4 (p, 8). 1933, ch. 530.
4. No Bank Commissioner, Deputy Bank Commissioner, Examiner,
or Clerk employed by the Bank Commissioner, shall own any stock of
any bank or trust company, or other corporation subject to examination
and supervision by the Bank Commissioner's Office.