<?xml version='1.0' encoding='utf-8'?>
<section article="gfi" article_name="Financial Institutions" number="2-103" title_number="2" title_name="Commissioner and Boards" subtitle_number="1" subtitle_name="Commissioner of Financial Regulation">
  <level label="a">
    <text>With the approval of the Secretary of Labor, the Commissioner shall appoint:</text>
    <level label="1">
      <text>A Deputy Commissioner for Depository Activities; and</text>
    </level>
    <level label="2">
      <text>A Deputy Commissioner for Non–Depository Activities.</text>
    </level>
  </level>
  <level label="b">
    <text>The Deputy Commissioners appointed under subsection (a) of this section serve at the pleasure of the Commissioner and are employees of the Commissioner’s office.</text>
  </level>
  <level label="c">
    <level label="1">
      <text>The Deputy Commissioner for Depository Activities shall have at least 5 years of experience in the regulation or management of financial institutions.</text>
    </level>
    <level label="2">
      <text>The Deputy Commissioner for Non–Depository Activities shall have at least 5 years of experience in the regulation or management of persons required to be licensed or registered under this article or the Commercial Law Article.</text>
    </level>
  </level>
  <level label="d">
    <text>The Deputy Commissioners appointed under subsection (a) of this section are entitled to the salary provided in the State budget.</text>
  </level>
  <level label="e">
    <text>In addition to any other powers and duties set forth in this article:</text>
    <level label="1">
      <text>The Deputy Commissioner for Depository Activities has the powers and duties of the Commissioner:</text>
      <level label="i">
        <text>To the extent delegated by the Commissioner;</text>
      </level>
      <level label="ii">
        <text>If the office of the Commissioner is vacant; and</text>
      </level>
      <level label="iii">
        <text>If for any reason the Commissioner is unable to perform the duties of the office; and</text>
      </level>
    </level>
    <level label="2">
      <text>The Deputy Commissioner for Non–Depository Activities has the powers and duties of the Commissioner to the extent delegated by the Commissioner.</text>
    </level>
  </level>
</section>
