CHAPTER 135 - THE BANK COMMISSIONER AND HIS ASSISTANTS

AN ACT TO AMEND CHAPTER 66 OF THE REVISED CODE OF DELAWARE, 1935, RELATING TO THE OFFICE OF STATE BANK COMMISSIONER AND HIS ASSISTANTS.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:

SECTION I. That 2275. Sec. 18, Chapter 66 of the Revised Code of Delaware, 1935, be and the same is hereby repealed and a new Section substituted in lieu thereof, as follows:—

2275. Sec. 18. The said State Bank Commissioner shall have power to appoint two deputies and to employ such examiners, clerks and other assistants as shall be necessary for the making of examinations of and giving adequate supervision over the corporations under his jurisdiction and lending such aid and counsel to the officers and directors of said corporations as the situation or the circumstances may require, and in general, for the proper conduct of the affairs of the office and to discharge in a proper manner the duties imposed upon him by law. The tenure, duties and compensation of the persons so appointed or employed shall be determined by the said Commissioner.

PROVIDED, however, that the Commissioner shall not increase his force beyond two deputies, three examiners, two clerks and a stenographer; and, provided further, that the salaries or compensation of the several appointees or employees under this Section shall be fixed by the said Commissioner. The Deputy Commissioners shall give bonds to the State in the sum of Twenty-five Thousand Dollars each, and each of the examiners shall give bond to the State in the sum of Ten Thousand Dollars, for the faithful performance of their respective duties, provided that the Commissioner may, in his discretion, require bonds of such other appointees as he may deem necessary for the faithful performance of their respective duties. The said bonds shall be filed in the office of the Secretary of State. In the event of the removal, resignation, death or disability of any person so appointed or employed, the vacancy may be filled by the Commissioner.

SECTION II. That 2277. Sec. 20, Chapter 66 of the Revised Code of Delaware, 1935, be and the same is hereby repealed and a new Section substituted in lieu thereof, as follows:—

2277. Sec. 20. The principal office of the said State Bank Commissioner shall be in the State House at Dover. The necessary expenses of said office, the costs of the bonds required to be given by the said Commissioner and his appointees, the salaries or compensation of the said Commissioner, his deputies and other appointees, and the necessary expenses incurred by them in the performance of their respective duties shall be paid by the State Treasurer when and as vouchers therefor are presented to him by the said Commissioner. The said Commissioner shall render an account monthly to the State Auditor of all taxes and charges received by him and shall pay the amount thereof to the State Treasurer.

Approved February 26, 1941.