1656 LAWS OF MARYLAND. [CH. 959

1. There shall be a Bank Commissioner for the State
who shall be assigned to the Division of Financial Review
and Control. He shall be 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 suc-
ceeding his appointment, and until his successor is ap-
pointed and has qualified. He shall, before he acts as
such and each year thereafter, give a corporate
surety bond iii the sum of $20, 0, 00 or such additional sum
as the State Comptroller may prescribe, with condition
that he faithfully perform his duties and account for all
funds received under color of his office, 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 provided 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 25 of this Article, as
amended. He may be removed by the Governor for incom-
petency or misconduct. The Bank Commissioner, under
the supervision and directions of the Comptroller, shall
have and exercise all the rights, powers, duties, obligations
and functions conferred upon him by law.

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 25 of this Article. Whenever it becomes necessary
for the Bank Commissioner to take charge of a failed bank-
ing 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 bank-
ing institution. The Deputy Bank Commissioner and, in
the discretion of the State Comptroller, the employees of
the said Department shall each annually give corporate