HARRY W. NICE, GOVERNOR. 717

after Article 58A of said code; providing for the defining,
licensing and regulating of the business of procuring loans
and the regulating of the business of making loans pursuant
to such procuring, and prescribing certain duties of the
Commissioner of Loans and the penalties for the violation
of this Act.

(Vetoed. )

CHAPTER 360.

AN ACT to add a new section to Article 41 of the Anno-
tated Code of Maryland (1924 Edition), title "Governor—
Executive and Administrative Department", sub-title "The
Finance Department", said new section to be known as Sec-
tion 90A and to follow immediately after Section 90 of said
Article, providing for the creation of the office of Commis-
sioner of Loans.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That a new section be and it is hereby added to Article
41 of the Annotated Code of Maryland (1924 Edition), said
new section to be known a Section 90A, to follow immediately
after Section 90 of said Article, and to read as follows:

90A. There shall be a Commissioner of Loans, who shall
be assigned to and under the Division of Financial Review and
Control. He shall hold office for the term of four years from
the first Monday of May succeeding his appointment, and until
his successor is appointed and has qualified, except that the
Commissioner of Loans first appointed under this Act shall
be appointed on the day the Act becomes effective, on which
day his term shall begin, and he shall hold office until the first;
Monday of May, 1939, and until his successor shall be ap-
pointed and qualify. He shall give bond in the sum of $20, -
000. 00, to be approved by the Governor, for the faithful per-
formance of his duties. He shall have his office in the City of
Baltimore, the rent whereof shall be paid out of the receipts
of his office. He shall receive in full compensation for his
services an annual salary of $4, 800. 00, payable out of the
receipts of his office, in semi-monthly installments. He may
be removed by the Governor for incompetency or misconduct.
The Commissioner of Loans, under the supervision of the head
of the Division of Financial Review and Control, shall exercise
all the rights, powers, duties, obligations and functions con-
ferred upon him by law.