(a) The banking commissioner is the chief executive officer of the Texas Department of Banking. The finance commission shall appoint the banking commissioner. The banking commissioner serves at the will of the finance commission and is subject to the finance commission's orders and directions.
(b) The banking commissioner must have not less than seven years' experience in banking or bank supervision.
(c) The finance commission shall set the compensation of the banking commissioner. The compensation shall be paid from money of the department.