67-2701. DEPARTMENT OF FINANCE — CREATION — DIRECTOR — ORGANIZATION — POWERS AND DUTIES. (a) There is hereby created the department of finance. The department shall, for the purposes of section 20, article IV, of the constitution of the state of Idaho, be an executive department of state government. The governor shall appoint, with the advice and consent of the senate, a director of the department of finance who shall serve at the pleasure of the governor. The director shall have had at least five (5) years practical experience in the banking business, or shall have served for a like period in the banking division of this or some other state. Neither the director of the department nor any administrator of a division in the department shall be the owner of or financially interested either directly or indirectly in any banking or insurance corporation subject to the supervision of the department.
(b) The department of finance shall be composed of such divisions as are established by law and such other units as may be administratively established. The director of the department shall appoint, subject to the approval of the governor, an administrator for such divisions as may be established. The director shall, subject to the approval of the governor, fix the salary of each administrator.
(c) The director of the department of finance shall have power:
1. To exercise the rights, powers and duties vested by law in the department or in the director.
2. To execute the laws relating to banks and banking.
History:
[(67-2701) 1919, ch. 8, sec. 28, p. 43; C.S., sec. 284; am. 1921, ch. 22, sec. 1, p. 30; am. 1921, ch. 104, sec. 7, p. 233; I.C.A., sec. 65-2601; am. 1933, ch. 146, sec. 1, p. 225; am. 1947, ch. 60, sec. 1, p. 87; am. 1947, ch. 212, sec. 1, p. 497; am. 1974, ch. 24, sec. 2, p. 744.]