1598 LAWS OF MARYLAND. [CH. 741

to the duties of his position. He shall occupy the position to
which he shall be appointed for a term of four years from
the first Monday in May succeeding his appointment and
until his successor is appointed and has qualified, except
that the Administrator of Loan Laws first appointed under
this Section shall be appointed on the day this Section
becomes effective, on which day his term shall begin, and
he shall hold office until the first Monday of May, 1943,,
and until his successor shall be appointed and shall qualify.
He shall give bond in the sum of twenty thousand dollars
($20, 000. 00), to be approved by the Governor, for the
faithful performance of his duties. He shall receive in full
compensation for his services an annual salary of four
thousand dollars ($4, 000. 00), payable in semi-monthly in-
stallments. He may be removed by the Governor for
incompetency or misconduct.

The Bank Commissioner shall delegate to the Adminis-
trator of Loan Laws, the administration of loan laws here-
tofore or hereinafter enacted the purpose of which, express
or implied, is the protection of borrowers or the punish-
ment of usurious money lenders, as distinguished from
laws enacted for other purposes. In connection with car-
rying out such duties and obligations the Administrator
of Loan Laws shall be clothed with all the rights and
powers conferred upon the Bank Commissioner in connec-
tion with such laws. It shall be the duty of the Adminis-
trator of Loan Laws to report in detail to the State's
Attorney of the County or Baltimore City, having juris-
diction in the premises, any violations of laws the purpose
of which, express or implied, is the protection of borrowers
or the punishment of usurious money lenders.

The Administrator of Loan Laws shall have the power
to employ such investigators and stenographers as pro-
vided in the budget and if not so provided, then as the
Board of Public Works may determine, all payable in
semi-monthly installments. Said salaries of employees and
any expenses shall be payable out of the receipts which
may accrue to the Bank Commissioner pursuant to the
provisions of laws the purpose of which, as aforesaid, is
the protection of borrowers or the punishment of usurious
money lenders. All persons employed by the Administrator
of Loans as aforesaid shall devote their entire time to the
duties of their respective positions.

SEC. 5. And be it further enacted, That this Act shall
take effect on June 1st, 1939.

Approved May 11, 1939.