(1) The secretary of the Energy and Environment Cabinet shall appoint, as director of the Division of Oil and Gas in the Department for Natural Resources, a person who has, at the time of his appointment, at least five (5) years' experience in the exploration for or the production of oil or gas.
(2) It shall be his duty to administer the provisions of KRS 353.500 to 353.720 subject to the direction and supervision of the commissioner.
(3) Before taking office, the director shall take oath, which shall be certified by the officer administering it. The oath, in writing, and the certificate shall be filed in the office of the Secretary of State.
(4) No director shall, while holding office, acquire any financial interest, directly or indirectly, in any venture or activity for the exploration for or production of oil or gas in this Commonwealth.