§ 6-01-08 — Appointment of commissioner - Qualifications

The commissioner must be appointed by the governor and confirmed by the senate, and
shall hold office for a term of four years and until a successor has been appointed, confirmed by
the senate, and has qualified, unless the commissioner is removed sooner as herein provided. If
the senate is not in session, the governor may make an interim appointment, and the interim
appointee shall hold office until the senate confirms or rejects the appointment. The
commissioner's term of office commences on the first day of July in each year next following a
national presidential election. The commissioner must be a skilled accountant, and may not be
an incumbent of any other public office in the state, or in any county, municipality, or public
institution thereof, and may not own, hold, or control any stocks, capital, or bonds, or hold the
office of trustee, assignee, officer, agent, or employee of any financial institution under the
commissioner's jurisdiction, or of any corporation engaged in the business of guarantying or
ensuring the fidelity or faithful performance of the duties or the solvency of public officers or of
public depositaries. The governor may remove from office any commissioner who violates or
fails to discharge faithfully the duties of office or who becomes disqualified under the provisions
of this section.