§ 8718 — State Bank Commissioner

(a) The Office of State Bank Commissioner established by Chapter 1 of Title 5 is continued.

(b) The Commissioner shall be appointed by the Governor for a term of 4 years and shall hold office until a successor shall be duly appointed. The Commissioner shall be a person qualified by training and experience to perform the duties of the office.

(c) The Commissioner shall receive, in full compensation for the Commissioner’s services, such salary as shall be fixed by the Governor within such limitations as may be prescribed by law.

(d) The Governor, upon due notice and hearing, may remove the Commissioner from office for cause.

(e) Upon the resignation, death, disability or removal of the Commissioner, the vacancy shall be filled by appointment of the Governor for the unexpired term. In the event of the death, resignation, disability or removal of the Commissioner, all the powers necessary to perform all the duties and functions of the Commissioner during such incapacity or until a successor is duly appointed and qualified shall be conferred upon the senior Deputy Commissioner appointed by the Commissioner pursuant to § 103 of Title 5. The senior Deputy Commissioner shall be the Deputy Commissioner who has served the longest as a Deputy Commissioner.

(f) In addition to the powers, duties and functions heretofore vested in the State Bank Commissioner by law, the Commissioner shall have the power to perform and shall be responsible for the performance of all the powers, duties and functions heretofore vested in the Board of Bank Incorporation pursuant to Title 5.

(g) [Repealed.]

Legislative History

29 Del. C. 1953, § 8809; 57 Del. Laws, c. 581, § 1 ; 63 Del. Laws, c. 195, § 1A ; 66 Del. Laws, c. 203, § 1 ; 70 Del. Laws, c. 186, § 1 ; 73 Del. Laws, c. 24, § 19