The chief examiner, before entering upon the duties of his or her office, shall take the oath prescribed by Section 279 of the Constitution of Alabama of 1901, and shall give bond for the faithful performance of his or her duties in the amount of one hundred thousand dollars ($100,000). The oath and the bond, which must be approved by the Legislative Committee on Public Accounts and paid for from funds available to the Department of Examiners of Public Accounts, shall be filed with the Secretary of State. The chief examiner shall be a commissioned officer of the state.