Be it resolved by the Senate and House of Representatives of the State of Delaware, in General Assembly met:
Section 1. That the Governor be and he is hereby authorized and directed to appoint a Commission of eight persons experienced in banking, residents and citizens of the State of Delaware, not more than four of whom shall be of the same political party, two to be selected to represent the Wilmington Clearing House Association, two from rural New Castle County, two from Kent County and two from Sussex County, which shall be known as the "Commission on Revision of the Banking Laws of the State of Delaware", whose duty it shall be to make a full and complete investigation of the Banking Laws, determine what changes are desirable and report its conclusions to the Governor, and make its recommendations to the next General Assembly of this State, with a view to a complete and comprehensive revision of all Banking Laws of this State.
Section 2. The members of the Commission shall serve without compensation except for the actual and necessary expenses incurred by them in the performance of their duties, their terms of office shall continue until the final adjournment of the next General Assembly, and any vacancies in the Commission which may occur by death, resignation or otherwise, shall be filled by appointment of the Governor.
Section 3. The State Bank Commissioner shall be an ex officio member of the Commission and shall serve as its chairman. He shall receive no additional compensation whatever for his service as chairman and ex officio member of the Commission.
The Commission may employ counsel and such stenographic assistants as may be needed and fix their compensation. The expenses of the Commission shall be paid by the State Treasurer on the warrant of the chairman, subject, however, to the limitation that the total expenses of the Commission, including the compensation of its counsel and other stenographic assistants, shall not exceed the sum of Two Thousand Dollars ($2,000.00), which sum is hereby appropriated for that purpose out of any monies in the General Fund of the State Treasury not otherwise appropriated.