Sec. 404.115.  PERSONNEL.  (a)  The comptroller may appoint a person to serve as chief executive officer in managing the trust company and carrying out the policies of the trust company.  The chief executive officer and employees of the trust company serve at the will of the comptroller.
(b)  The comptroller may delegate any of the comptroller's duties to the chief executive officer and trust company employees.
(c)  The chief executive officer or the chief executive officer's designee shall develop a career ladder program and a system of compensation necessary to retain qualified staff.
(d)  The chief executive officer or the chief executive officer's designee shall develop a system of annual performance evaluations.  Merit pay for trust company employees must be based on the system established under this subsection.
(e)  The chief executive officer or the chief executive officer's designee shall prepare and maintain a written policy statement to assure implementation of a program of equal employment opportunity under which all personnel decisions are made without regard to race, color, disability, religion, age, or national origin.
(f)  The chief executive officer shall appoint an internal auditor for the trust company.  The appointment of the internal auditor must be approved by the comptroller.  The comptroller may require the internal auditor to submit certain reports directly to the comptroller.
(g)  Except as provided by this section and Section 404.103(e), trust company employees hired under this subchapter are state employees for all purposes, including accrual of leave time, insurance benefits, retirement benefits, and travel regulations, Chapter 104, Civil Practice and Remedies Code, and Chapter 501, Labor Code.
Added by Acts 2001, 77th Leg., ch. 1158, Sec. 27, eff. June 15, 2001.