(a) There is hereby established under the jurisdiction of the commissioner of insurance a division to be known as the office of the securities commissioner of Kansas. The office shall be administered by the securities commissioner of Kansas who shall be in the unclassified service under the Kansas civil service act. The securities commissioner shall be appointed by the commissioner of insurance and be subject to confirmation by the senate as provided in Kan. Stat. Ann. § 75-4315b, and amendments thereto. The securities commissioner shall have special training and qualifications for such position, shall receive such compensation as may be fixed by the commissioner of insurance and shall serve at the pleasure of the commissioner of insurance. Except as provided by Kan. Stat. Ann. § 46-2601, and amendments thereto, no person appointed as securities commissioner shall exercise any power, duty or function as securities commissioner until confirmed by the senate.

(b) The securities commissioner shall devote full time to the performance of the duties of the office of the securities commissioner.

(c) The securities commissioner may appoint directors and other employees within the office of the securities commissioner as determined necessary by the securities commissioner to effectively carry out the mission of the office. All directors appointed after the effective date of this act shall be in the unclassified service under the Kansas civil service act, shall have special training and qualifications for such positions, shall serve at the pleasure of the securities commissioner and shall receive compensation fixed by the securities commissioner and approved by the commissioner of insurance.

(d) Nothing in subsection (c) shall affect the classified status of any person employed in the office of the securities commissioner on the day immediately preceding the effective date of this act. The provisions of this subsection shall not be construed to limit the powers of the securities commissioner pursuant to Kan. Stat. Ann. § 75-2948, and amendments thereto.

(e) The office of the securities commissioner of Kansas shall cooperate with the insurance department to consolidate administrative functions and cross-appoint such employees as deemed necessary to provide efficiency. The commissioner of insurance and the securities commissioner are hereby authorized to enter into agreements and adopt rules and regulations as necessary to administer the provisions of this subsection.