SB77 Alabama 2018 Session

Summary

Primary Sponsor

J.T. WaggonerSenator

Republican

Session

Regular Session 2018

Title

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

Summary

SB 77 changes how the Securities Commission Director’s salary is set by requiring the State Personnel Board to approve the salary range, while the Commission fixes the actual pay within that approved range.

What This Bill Does

The bill amends the salary rule for the Director of the Securities Commission to require the State Personnel Board’s approval of the salary range. The Commission will still fix the Director’s salary, but within the Attorney IV range as determined and set with SPB approval. The existing qualifications and conflict-of-interest provisions for the Director remain unchanged, and the act takes effect on the date specified in law.

Who It Affects

• Director of the Securities Commission — salary-setting authority shifts to the Commission, but the salary range used for that pay must be approved by the State Personnel Board.
• State Personnel Board — gains oversight/approval authority over the salary range for the Director, influencing how much the Director can be paid.

Key Provisions

• Section 8-6-56(c): The Director’s salary shall be fixed by the Commission within the merit-system Attorney IV salary range, as determined and set by the Commission with the approval of the State Personnel Board.
• Sections 8-6-56(a) and (b): The Director must meet specified qualifications and must not have certain financial interests, unchanged by this act.
• Section 2: The act becomes effective on the first day of the third month after 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