The Insurance Commissioner and Treasurer is elected statewide to a four-year term. There is no limit to the number of terms that can be served. The only requirements to run for the office are that the candidate be a U.S. citizen, a registered voter, at least 30 years of age, and a resident of the state for the preceding seven years.
The Insurance Commissioner and Treasurer is the state's biggest banker and is responsible for receiving and disbursing state funds. He keeps detailed records of all transactions and is also responsible for investing state funds. His duties as Insurance Commissioner include regulating fire, casualty, and liability insurance. He is also the State Fire Marshall. In this capacity, he investigates the causes of fires and enforces laws related to fire prevention and fire codes.
HISTORY: Office of Treasurer was created by the 1838 Constitution and was effective with Statehood in 1845. The Treasurer was elected by a joint vote of the houses of the legislature. The 1861 Constitution again provided for election by the joint houses. The 1865 Constitution provided for election by the people. The 1868 Constitution provided for appointment by the Governor and confirmation by the Senate. The 1885 Constitution returned election to the people. The 1968 Constitution continued election by the people. The Legislature renamed the Treasurer the Treasurer and Insurance Commissioner in 1969.
