AN ACT To establish an Insurance Department. lished. SECTION 1. Be it enacted, &c., That there is hereby estab- Department established a distinct department, to be known as the Insurance Department, which shall be charged with the execution of the laws of this State in relation to insurance. sioner. SECTION 2. The chief officer of said department shall be Insurance commisdenominated the Insurance Commissioner of Pennsylvania; he shall be appointed by the Governor, with the advice and To be appointed. consent of the Senate, within thirty days after the passage of this act, for the term of three years, and until his succes- Term. sor is duly qualified, and shall receive the annual salary of Salary. three thousand dollars: Provided, That the person first appointed Commissioner, under this act, shall enter upon the duties of his office on the first Monday of May next; in Vacancy. case of a vacancy in said office by death, resignation or otherwise, the Governor shall fill such vacancy for the un expired balance of the term; he shall employ, from time to Deputy and clerks. time, with the approval of the Governor, not exceeding, in addition to deputy, three clerks, to discharge such duties as he shall assign them, whose compensation shall be paid them by the State Treasurer, at the same rate and in the same manner as the clerks in the office of the Secretary of the Commonwealth; he shall appoint one of the said clerks to be his deputy, who shall perform the duties attached by law to the office of principal during the absence or inability of his principal, who shall receive an annual salary of eighteen hundred dollars, payable as aforesaid; within fifteen days from the date of his appointment, the Commis- give security. sioner shall take and subscribe the oath of office prescribed by the Constitution, and file the same in the office of the Secretary of the Commonwealth, and shall also give to the Commonwealth a bond in the penalty of ten thousand dollars, with two sureties, to be approved by the Governor, conditioned for the faithful discharge of the duties of his office. SECTION 3. All books, papers, record and securities whatever, in the office of the Auditor General, relating to the business of insurance shall, on demand, be delivered and To be sworn and Insurance records, &c., to be trans ferred to commis sioner. |