A. The office of "superintendent of insurance" is created as of July 1, 2013. The superintendent of insurance shall regulate insurance companies and others engaged in risk assumption in such manner as provided by law. The superintendent of insurance shall be appointed by the insurance nominating committee and serve for such terms as may be provided by law; provided that the term of the first superintendent of insurance appointed pursuant to this 2012 amendment shall begin on July 1, 2013 and end on December 31, 2015.

B. The insurance nominating committee shall be appointed and have such qualifications as may be provided by law. The insurance nominating committee shall evaluate applications for superintendent of insurance in accordance with qualifications for superintendent of insurance established by law. (As added November 6, 2012.)

ANNOTATIONS

The 2012 amendment to Article XI, which was proposed by H.J.R. No. 17, Section 2 (Laws 2012) and adopted at a general election held on November 6, 2012 by a vote of 330,873 for and 321,055 against, added this section.