State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-368

§ 53‑368.  Assessment ofState trust companies.

(a)        For the purpose ofoperating and maintaining the office of the Commissioner, each State trustcompany shall pay into the office of the Commissioner, within 10 days afternotice, an annual assessment of ten thousand dollars ($10,000) plus one dollar($1.00) per one hundred thousand dollars ($100,000) of assets held for itsaccounts, exclusive of nonsecuritized real estate interests. For purposes ofthis assessment, the amount of assets held for accounts shall be determined asof the close of business on December 31 of each year.

(b)        If an applicationfor merger, share exchange, sale of assets, change of control, conversion, or asimilar transaction occasions an examination or if the Commissioner determinesthat the financial condition or manner of operation of a State trust companywarrants further examination or an increased level of supervision, a Statetrust company may be subject to an additional assessment not to exceed theamount required of all State trust companies by subsection (a) of this section.

(c)        Except as set forthin this section, fees and assessments of a State trust company shall begoverned by G.S. 53‑122. Fees and assessments collected under theprovisions of this section shall be considered to be part of the total feescollected under G.S. 53‑122(d). (2001‑263, s. 1; 2007‑55, s. 2.)