I. There shall be a bank commissioner who shall be appointed by the governor with the advice and consent of the council, and whose term shall be for 6 years.
II. There shall be a deputy bank commissioner who shall be recommended by the commissioner and appointed by the governor with the advice and consent of the council, and whose term shall be 6 years. The deputy may exercise the powers and perform the duties of the commissioner during the commissioner's absence whenever and to the extent that he or she may be so authorized by the commissioner. In case of the temporary disability of the commissioner, or of a vacancy in the office, the deputy shall have the powers and perform the duties of the commissioner until another commissioner is appointed and qualified.