H. B. 4620
(By Delegates H. White, Kominar, Stalnaker,
Ron Thompson, G. White and Perry)
[Introduced February 17, 2006; referred to the
Committee on Finance.]
A BILL to amend and reenact §31A-2-2 of the Code of West Virginia,
1931, as amended; and to amend and reenact §33-2-2 of said
code, all relating generally to specific state officials'
salaries and providing for salary range for the same.
Be it enacted by the Legislature of West Virginia:
That §31A-2-2 of the Code of West Virginia, 1931, as amended,
be amended and reenacted; and that §33-2-2 of said code be amended
and reenacted, all to read as follows:
CHAPTER 31A. BANKS AND BANKING.
ARTICLE 2. DIVISION OF BANKING.
§31A-2-2. Commissioner's appointment, term, qualifications,
salary, oath and bond.
The Commissioner of Banking shall be appointed by the
Governor, by and with the advice and consent of the Senate. He or
she shall serve at the will and pleasure of the Governor for the term for which the Governor was elected and until his or her
successor is appointed and qualified, unless earlier removed from
office for cause as provided by law. Notwithstanding any other
provision of this code to the contrary, the commissioner shall
receive an annual salary of no less than eighty thousand and no
more than one hundred thousand dollars, as determined by the
Governor, and actual expenses incurred in the performance of
official business, which compensation shall be in full for all
services.
Any person appointed as commissioner shall have a college
degree from an accredited institution, be of good moral character,
have knowledge of the theory and practice of banking and be at
least twenty-five years of age.
Before entering upon the discharge of his or her duties as
commissioner, he or she shall take and subscribe to the oath of
office prescribed in section five, article four of the Constitution
of West Virginia and shall enter into a bond in the penal sum of
one hundred thousand dollars, with a corporate surety authorized to
engage in business in this state, conditioned upon the faithful
discharge and performance of the duties of his or her office. The
premium of such bond shall be payable from the State Treasury out
of funds allocated to the department of banking. The executed oath
and bond shall be filed in the office of the Secretary of State.
CHAPTER 33. INSURANCE.
ARTICLE 2. INSURANCE COMMISSIONER.
§33-2-2. Compensation and expenses of commissioner and employees;
location of office.
Notwithstanding any other provision of this code to the
contrary, The the commissioner shall receive an annual salary of
forty-seven thousand eight hundred no less than ninety thousand and
no more than one hundred ten thousand dollars, as determined by the
Governor, and actual expenses incurred in the performance of
official business, which compensation shall be in full for all
services. The office of the commissioner shall be maintained in
the capitol or other suitable place in Charleston. The
commissioner may employ such persons and incur such expenses as may
be necessary in the discharge of his or her duties and shall fix
the compensation of such employees, but such compensation shall not
exceed the appropriation therefor. The commissioner may reimburse
employees for reasonable expenses incurred for job-related training
and educational seminars and courses. All compensation for
salaries and expenses of the commissioner and his or her employees
shall be paid monthly out of the State Treasury by requisition upon
the Auditor, properly certified by the commissioner.
NOTE: The purpose of this bill is to provide for the salary
range of the Commissioner of Banking and the Insurance
Commissioner.
Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would
be added.