(a) (1) This chapter shall be administered by the Securities Commissioner.(2) Except as provided in subdivision (a)(3) of this section, the Securities Commissioner shall:(A) Be appointed by the Governor and serve at the pleasure of the Governor; and(B) Report to the Bank Commissioner.(3) The Bank Commissioner may act as the Securities Commissioner.
(1) This chapter shall be administered by the Securities Commissioner.
(2) Except as provided in subdivision (a)(3) of this section, the Securities Commissioner shall:(A) Be appointed by the Governor and serve at the pleasure of the Governor; and(B) Report to the Bank Commissioner.
(A) Be appointed by the Governor and serve at the pleasure of the Governor; and
(B) Report to the Bank Commissioner.
(3) The Bank Commissioner may act as the Securities Commissioner.
(b) (1) There is created within the Department of Commerce the State Securities Department.(2) The State Securities Department shall have all the powers and duties assigned pursuant to Acts 1983, No. 691, and all subsequent delegations of authority.
(1) There is created within the Department of Commerce the State Securities Department.
(2) The State Securities Department shall have all the powers and duties assigned pursuant to Acts 1983, No. 691, and all subsequent delegations of authority.
(c) No person shall serve in the State Securities Department or in the Department of Commerce working for the State Securities Department in any capacity who engages in any activities regulated under the provisions of this chapter.