Chap. 12.—An ACT to amend the Code of Virginia by adding thereto a new
section, numbered 3716-a, conferring and imposing upon the State Corporation
Commission certain powers and duties relating to banking and insurance and
to the administration of laws of this State relating to banking and ee te

Approved February 24, 1938

1. Be it enacted by the General Assembly of Virginia, That the
Code of Virginia be amended by adding thereto a new section, num-
bered thirty-seven hundred and sixteen-a, which new section shall
read as follows:

Section 3/16-a. All the powers conferred and all the duties im-
posed by law upon the Bureau of Insurance, the Commission of In-
surance, the Banking Division of the State Corporation Commission,
the chief examiner of banks, the Bureau of Insurance and Banking,
and the Commissioner of Insurance and Banking shall be exercised
and performed by the State Corporation Commission, but in the ex-
ercise of such powers and performance of such duties the State
Corporation Commission may delegate to such officers and/or agents
as it may deem proper such powers and require of them, or any of
them, the performance of such duties as it may deem proper. The
officer or agent who is placed by the commission at the head of the
bureau or division through which it shall administer the banking laws
shall be designated “Commissioner of Banking”, and the officer or agent
who is placed by the commission at the head of the bureau or division
through which it shall administer the insurance laws shall be desig-
nated “Commissioner of Insurance”, and they and all deputies, of-
ficers, agents, and employees used in such bureau shall be appointed
by the State Corporation Commission and serve during its pleasure.

Z. All acts or parts of acts in conflict with this act, are hereby
repealed.