Section 1. There shall be a department of the state secretary under his supervision and control, organized as provided in this chapter. The state secretary shall make a quarterly return on oath to the governor of all fees of office received by him, and give to the state treasurer a bond, in a penal sum and with sureties approved by the governor, conditioned satisfactorily to account for all money received by him in his official capacity. The state secretary shall receive a salary of $124,920, and an additional amount to be calculated by applying the adjustment percentage most recently ascertained by the governor pursuant to Article CXVIII of the Articles of Amendment to the Constitution to the preceding figure.
Notwithstanding other provisions of this section to the contrary, any state secretary who has served, or but for resignation would have served, two consecutive terms in that office within the preceding eleven years shall receive no compensation. For the purpose of this section, any person serving as state secretary as of January 15, 1995 shall be deemed to be serving in his first term in that office.