6.1-194.149 - (Repealed effective October 1, 2010) Fees for supervision and regulation; investigations.
§ 6.1-194.149. (Repealed effective October 1, 2010) Fees for supervision andregulation; investigations.
A. For the purpose of defraying the expenses of supervision and regulation ofstate savings banks, the Commission shall, on or before July 1 of each year,assess against every such savings bank fees in accordance with a schedule tobe set by the Commission. Such schedule shall bear a reasonable relationshipto total assets and number of branches of various individual savings banksand to the costs of their respective supervision, regulation, and examination.
B. All fees so assessed shall be paid into the state treasury on or beforeJuly 31 following. The Commission shall mail the assessments to each savingsbank on or before July 1 of each year.
C. Before investigating an application for authority to establish a branch,the Commission shall charge a fee of $1,800 if the branch is to be locatedwithin the Commonwealth and a fee as prescribed by the Commission if thebranch is to be located outside the Commonwealth. A fee of $1,000 shall becharged before investigating an application for authority to change thelocation of an existing main office or branch office. Before investigating anapplication for a certificate of authority or conversion, the Commissionshall charge a fee of $10,000, except that the fee for investigating anapplication to convert from a state association or state bank to a statesavings bank pursuant to subsection B of § 6.1-194.129 shall be $5,000. Forinvestigating an application for merger or consolidation, the Commissionshall charge a fee of $7,500 and shall not be entitled to any further feesfor investigating any application to retain existing branches of the applyingsavings bank as branches of the merged or consolidated institutions. Suchfees may be waived by the Commission in the case of supervisory mergers orconsolidations.
D. For investigating an application for authority to exercise trust powers,the Commission shall charge a fee of $2,000 if such powers are to beexercised through a trust department and $10,000 if such powers are to beexercised through a trust affiliate or subsidiary.
E. Notwithstanding the designation of the several fees set forth insubsections C and D, the Commission may reduce by regulation or order anysuch fee or fees, if the Commission concludes that there is a reasonablebasis for doing so and that the reduction of the fee will not be detrimentalto the effectiveness of the Bureau of Financial Institutions.
(1991, c. 230; 1994, c. 331; 1998, c. 19.)