488                              LAWS OF MARYLAND                     [CH. 326

does not exceed the sum of six hundred and fifty dollars ($650) per
annum, or where the incumbent is employed on a part-time basis.

Article 32A
30. Administration of subtitle.

(a) Division of Securities; Securities Commissioner.—This sub-
title shall be administered by the Division of Securities which is
hereby created as a division of the Department of Law. The prin-
cipal executive officer of the Division of Securities shall be the
Securities Commissioner to be appointed by the Attorney General,
who shall also have the power to employ such officers and employees
as may be necessary to carry out the purposes of this subtitle. The
Securities Commissioner shall be a practicing lawyer of the State
of Maryland in good standing, shall hold his office at the pleasure
of the Attorney General, and shall receive such salary as shall
be provided in the State budget.

The Attorney General shall also appoint an Assistant Securities
Commissioner, who, after appointment, shall hold his position sub-
ject generally to the provisions of Article 64A of this Code. When-
ever a vacancy occurs in the position of Assistant Securities
Commissioner, such vacancy shall be filled by a person appointed
by the Attorney General without regard SUBJECT to the provisions
of Article 64A of this Code. Each person so appointed shall hold his
position subject generally to the provisions of said Article 64A.

Sec. 2. And be it further enacted, That on July 1, 1965 the then
incumbent Assistant Securities Commissioner, provided he has then
held the position for a period of not less than the preceding six
months, shall become a member of the classified service of this
State without the necessity for any qualifying examination or other
test, and from and after that date shall be subject generally to
the rights, duties, privileges and responsibilities provided for Merit
System employees in Article 64A of the Annotated Code of Maryland,
title "Merit System".

Sec. 3. And be it further enacted, That all laws and parts of law,
and all regulations and parts of regulations promulgated and adopted
by any department or agency of the government of this State which
are inconsistent with the provisions of this Act are repealed to
the extent of any such inconsistency.

Sec. 4. And be it further enacted, That this Act shall take effect
July 1, 1965.

Approved April 8, 1965.

CHAPTER 326
(House Bill 346)

AN ACT to repeal and re-enact, with amendments, subsection (f)
of Section 32 of Article 89B of the Annotated Code of Maryland