The Department of Labor and Regulation shall, under the direction and control of the secretary of labor and regulation, perform all administrative functions (as defined in § 1-32-1 ) of the following divisions: (1) The Division of Banking, created by chapter 51A-2 ; (2) The Division of Insurance, created by chapter 58-2 . This section does not apply to the special budgetary functions (as defined in § 1-32-1 ) of the State Banking Commission created by chapter 51A-2 .
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