Director - Appointment; duties generally.
(a) The Securities Commission shall appoint a full-time director who shall be a career employee subject to the provisions of the Alabama Merit System Law and whose employment may be terminated only for cause.
(b) The director shall administer the provisions of Article 1 of this chapter under the supervision of the commission and in accordance with its policies.
(Acts 1969, No. 740, p. 1315, §6.)