SB 77

Signed by Governor

Sponsor

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.

Description

Under existing law, the salary of the Director of the Securities Commission is set by the commission in the salary range payable to attorneys in the Merit System Classification of Attorney IV, as determined and set by the Alabama Securities Commission

This bill would provide that the salary of the Director of the Securities Commission would be fixed by the Securities Commission with the approval of the State Personnel Board

Relating to the Securities Commission; to amend Section 8-6-56, Code of Alabama 1975, to provide that the salary of the director of the commission would be fixed by the commission with the approval of the State Personnel Board.

Subjects

Securities Commission

Note: Bills that change current law do not show the amended text correctly below. Please view Original PDF to see amended sections: SB 77 - Introduced - PDF

This bill would provide that the salary of the Director of the Securities Commission would be fixed by the Securities Commission with the approval of the State Personnel Board

Section 1

Section 8-6-56 of the Code of Alabama 1975, is amended to read as follows:

§8-6-56.

(a) The Director of the Securities Commission shall be a person of good moral character, at least 30 years of age, a resident of Alabama, a member of the Alabama bar and thoroughly familiar with corporate organization, investment banking, investment trusts, the sale of securities, and the statistical details of the manufacturing industries and commerce of this state. The Securities Commission may also require additional qualifications.

(b) The director, while serving as such, shall not directly or indirectly be financially interested in or associated with any commercial bank, savings bank, trust company, industrial loan or investment company, credit union, building and loan association, or any other person subject to the jurisdiction of the commission or the director thereof.

(c) The salary of the director shall be fixed by the commission in the salary range payable to attorneys in the Merit System classification of Attorney IV, as determined and set by the commission with the approval of the State Personnel Board."

Section 2

This act shall become effective on the first day of the third month following its passage and approval by the Governor, or its otherwise becoming law.

Action Date	Chamber	Action
March 6, 2018	S	Assigned Act No. 2018-187.
March 6, 2018	S	Enrolled
March 6, 2018	H	Signature Requested
March 6, 2018	S	Second House Concurs in Executive Amendment
March 1, 2018	H	South motion to Concur In and Adopt adopted Roll Call 577
March 1, 2018	H	House of Origin Concurs in Executive Amendment
February 22, 2018	S	Waggoner motion to Concur In and Adopt adopted Roll Call 450
February 22, 2018	S	Executive Amendment Offered
February 22, 2018	S	Forwarded to Governor
February 13, 2018	H	Signature Requested
February 13, 2018	S	Enrolled
February 8, 2018	S	Passed Second House
February 8, 2018	H	Hanes intended to vote Nay
February 8, 2018	H	Motion to Read a Third Time and Pass adopted Roll Call 240
February 8, 2018	H	Third Reading Passed
February 1, 2018	H	Read for the second time and placed on the calendar
January 23, 2018	H	Read for the first time and referred to the House of Representatives committee on Financial Services
January 23, 2018	S	Motion to Read a Third Time and Pass adopted Roll Call 65
January 23, 2018	S	Third Reading Passed
January 16, 2018	S	Read for the second time and placed on the calendar
January 9, 2018	S	Read for the first time and referred to the Senate committee on Governmental Affairs