ALBERT C. RITCHIE, GOVERNOR. 51

ance, the principal office for which shall be located in the City
of Baltimore. The chief officer of said department shall be
appointed by the Governor, for the term of four years, begin-
ning on the first Monday of May succeeding his appointment,
except that the Insurance Commissioner first appointed under
this Act shall be appointed on the day the Act takes effect, on
which date his term shall begin, and shall hold office until the
first Monday of May, 1924, or until his successor shall be ap-
pointed and qualify. He shall be known as the State Insur-
ance Commissioner of Maryland, and shall receive an annual
salary of $3, 600, provided, however, that no person who is a
director, officer or agent of, or directly or indirectly interested
in any insurance company except, as insured, shall be appointed
as such insurance commissioner. Said State Insurance Com-
missioner shall hold office during the term for which he is ap-
pointed and until his successor is appointed and qualified, un-
less sooner removed for cause by the Governor, and shall give
bond to the State of Maryland in the sum of fifty thousand dol-

lars for the faithful performance of his duties. There shall
also be a deputy insurance commissioner, who shall be appointed
by the State Insurance Commissioner, and shall receive an an-
nual salary as provided in the Budget Bill, and in the event of
the death, resignation, disability or disqualification of the State
Insurance Commissioner, or in case the office of insurance com-
missioner shall become vacant, the said deputy insurance com-
missioner shall have and exercise all the powers and duties
vested by law in the State Insurance Commissioner. And the
said deputy insurance commissioner shall give bond to the State
Insurance Commissioner in a penalty to be determined by the
commissioner. The State Insurance Commissioner is author-
ized to appoint an actuary for said insurance department at an
annual salary of five hundred dollars, in addition to the fees
prescribed by Section 184 of this Article, and also to employ
such clerical assistance as he may deem necessary for the proper
discharge of the duties and efficiency of his department; pro-
vided, that he shall not exceed the sum of seventy-five hundred
dollars per annum for the pay of such clerical assistance. The
State Insurance Commissioner, under the supervision and di-
rection of the Comptroller, shall have and exercise all the
rights, powers, duties, obligations and functions conferred upon
him by law.

(d) The State Tax Commission, constituted and organized
as at present, shall be assigned to the Division of Financial
Review and Control, and, with respect to its administrative as