The Chancellor, Chief Justice, and Judges in office on and immediately before May 14, 1951, shall hold their respective offices until the expiration of their terms respectively and shall receive the compensation provided by law. They shall, however, be hereafter designated as follows:

1. (1) The Chancellor shall continue to be designated as Chancellor.
2. (2) The Chief Justice shall hereafter be designated as President Judge of the Superior Court.
3. (3) The Judges shall hereafter be designated as Judges of the Superior Court.
4. (4) The Vice-Chancellor, in office on and immediately before May 14, 1951, shall hold office until the expiration of the period of 12 years from the date of the commission for the office of Vice-Chancellor held by the Vice-Chancellor on May 14, 1951, and shall receive the compensation provided by law. The Vice-Chancellor shall continue to be designated as Vice-Chancellor.

47 Del. Laws, c. 261 and 48 Del. Laws, c. 109; 71 Del. Laws, c. 379 and 72 Del. Laws, c. 136; 74 Del. Laws, c. 299 and 75 Del. Laws, c. 53; 75 Del. Laws, c. 137 and 76 Del. Laws, c. 11; 84 Del. Laws, c. 281 and 85 Del. Laws, c. 5;