Division of Securities established -- Director -- Investigators

(1) (a) There is established within the Department of Commerce a Division of Securities. (b) The division is under the direction and control of a director. The executive director shall appoint the director with the governor's approval. (c) Subject to Section 61-1-18.5, the division shall administer and enforce this chapter. (d) The director shall hold office at the pleasure of the governor. (2) The director, with the approval of the executive director, may employ the staff necessary to discharge the duties of the division or commission at salaries to be fixed by the director according to standards established by the Division of Human Resource Management. (3) An investigator employed pursuant to Subsection (2) who meets the training requirements of Subsection 53-13-105(3) may be designated a special function officer, as defined in Section 53-13-105, by the director, but is not eligible for retirement benefits under the Public Safety Employee's Retirement System.