SB192 Alabama 2016 Session

Summary

Primary Sponsor

J.T. WaggonerSenator

Republican

Session

Regular Session 2016

Title

Securities Commission, directors salary to be fixed by commission with approval of State Personnel Board, Sec. 8-6-56 am'd.

Summary

SB192 changes how the Director of the Securities Commission's salary is set, requiring the commission to fix the salary with the approval of the State Personnel Board.

What This Bill Does

It replaces the current method where the Director's salary is set by the Securities Commission within the Merit System Attorney IV range. Now the commission determines the salary but it must be approved by the State Personnel Board. The bill keeps the existing qualifications and conflict-of-interest rules for the Director. It becomes effective on the first day of the third month after passage and governor approval.

Who It Affects

• Director of the Securities Commission: salary setting becomes a fixed decision by the Commission but requires approval from the State Personnel Board.
• State Personnel Board: gains the role of approving the Director's salary set by the Securities Commission.

Key Provisions

• The Director's salary shall be fixed by the Securities Commission with the approval of the State Personnel Board, rather than being set solely by the Commission within the Merit System Attorney IV range.
• Qualities and qualifications of the Director contained in Section 8-6-56 remain in place (e.g., moral character, age, Alabama residency, bar membership, knowledge of relevant areas).
• The act becomes effective on the first day of the third month following its passage and governor approval.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Securities Commission