1136 LAWS OF MARYLAND. [CH. 402

be appointed on the first day of January, 1923, on which date
his term shall begin, and shall hold office until the first Monday
of May, 1924, or until his successor shall be appointed and shall
qualify.

SEC. 5. Qualifications; Compensation; Bond. No person
who is a director, officer or, agent of, or directly or indirectly
interested in any insurance company, except as an assured,
shall be eligible for appointment as commissioner. He shall
give bond to the State of Maryland in the penalty of fifty
thousand dollars for the faithful performance of the duties of
his office, and shall receive an annual compensation as fixed
and provided by the budget.

SEC. 6. Deputy Insurance Commissioner. There shall also
be a deputy insurance commissioner, who shall be appointed
by the commissioner, and who, in the event of the death, resig-
nation, disability or disqualification of the commissioner, or in
case the office of commissioner shall for any cause become
vacant, shall have and exercise all the powers and duties
vested by law in the commissioner. He shall give bond to the
commissioner in such penalty as shall be determined by the
commissioner, and shall receive an annual compensation as
fixed and provided by the budget.

SEC. 7. Examiner. There shall be an examiner of the in-
surance department, who shall be appointed by the commis-
sioner and whose duty it shall be to examine, under the direc-
tion of the commissioner, the condition and affairs of every
insurance company of this state and such other companies
doing business in this state as the commissioner may direct,
in order that the commissioner may know whether or not such
companies are solvent and in compliance with the laws of this
state. Said examiner shall receive an annual compensation
not exceeding fifteen hundred dollars and the per diem pro-
vided by Section 50 to be paid by the companies examined by
him.

SEC. 8. Actuary. The commissioner shall also appoint an
actuary for the department, who shall receive an annual com-
pensation of five hundred dollars and the fees provided by
Section 40 to be paid by the companies whose policies he shall
value as required by law.

SEC. 9. Auditor. The commissioner shall also appoint an
auditor for the department, whose duties it shall be to examine