§ 6.1-194.85. (Repealed effective October 1, 2010) Fees for supervision andregulation; investigations.
A. For the purpose of defraying the expenses of supervision and regulation ofstate associations and foreign savings institutions doing business in theCommonwealth, the Commission shall, on or before July 1 of each year, assessagainst every such savings institution fees in accordance with a schedule tobe set by the Commission. Such schedule shall bear a reasonable relationshipto the total assets of various individual savings institutions and to thecosts 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 eachassociation 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 the Commission shall charge a feeof $10,000 in the case of a state association and a fee as prescribed by theCommission in the case of a foreign savings institution. For investigating anapplication for merger of consolidation, the Commission shall charge a fee of$7,500 and shall not be entitled to any further fees for investigating anyapplication to retain existing branches of the applying savings institutionas branches of the merged or consolidated institutions. Such fees may bewaived by the Commission in the case of supervisory mergers or consolidationsmade pursuant to § 6.1-194.88.
D. For investigating an application for authority to exercise trust powers,the Commission shall charge a fee of $2,000 if such power is to be exercisedthrough a trust department and $10,000 if such power is to be exercisedthrough 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.
(Code 1950, §§ 6-201.55, 6.1-185, 6.1-195.65; 1960, c. 402; 1966, c. 584;1972, c. 796; 1974, c. 181; 1976, c. 658; 1982, c. 455; 1984, c. 344; 1985,c. 425; 1986, c. 122; 1987, c. 172; 1988, c. 5; 1992, c. 283; 1998, c. 19.)
§ 6.1-194.85. (Repealed effective October 1, 2010) Fees for supervision andregulation; investigations.
A. For the purpose of defraying the expenses of supervision and regulation ofstate associations and foreign savings institutions doing business in theCommonwealth, the Commission shall, on or before July 1 of each year, assessagainst every such savings institution fees in accordance with a schedule tobe set by the Commission. Such schedule shall bear a reasonable relationshipto the total assets of various individual savings institutions and to thecosts 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 eachassociation 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 the Commission shall charge a feeof $10,000 in the case of a state association and a fee as prescribed by theCommission in the case of a foreign savings institution. For investigating anapplication for merger of consolidation, the Commission shall charge a fee of$7,500 and shall not be entitled to any further fees for investigating anyapplication to retain existing branches of the applying savings institutionas branches of the merged or consolidated institutions. Such fees may bewaived by the Commission in the case of supervisory mergers or consolidationsmade pursuant to § 6.1-194.88.
D. For investigating an application for authority to exercise trust powers,the Commission shall charge a fee of $2,000 if such power is to be exercisedthrough a trust department and $10,000 if such power is to be exercisedthrough 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.
(Code 1950, §§ 6-201.55, 6.1-185, 6.1-195.65; 1960, c. 402; 1966, c. 584;1972, c. 796; 1974, c. 181; 1976, c. 658; 1982, c. 455; 1984, c. 344; 1985,c. 425; 1986, c. 122; 1987, c. 172; 1988, c. 5; 1992, c. 283; 1998, c. 19.)
§ 6.1-194.85. (Repealed effective October 1, 2010) Fees for supervision andregulation; investigations.
A. For the purpose of defraying the expenses of supervision and regulation ofstate associations and foreign savings institutions doing business in theCommonwealth, the Commission shall, on or before July 1 of each year, assessagainst every such savings institution fees in accordance with a schedule tobe set by the Commission. Such schedule shall bear a reasonable relationshipto the total assets of various individual savings institutions and to thecosts 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 eachassociation 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 the Commission shall charge a feeof $10,000 in the case of a state association and a fee as prescribed by theCommission in the case of a foreign savings institution. For investigating anapplication for merger of consolidation, the Commission shall charge a fee of$7,500 and shall not be entitled to any further fees for investigating anyapplication to retain existing branches of the applying savings institutionas branches of the merged or consolidated institutions. Such fees may bewaived by the Commission in the case of supervisory mergers or consolidationsmade pursuant to § 6.1-194.88.
D. For investigating an application for authority to exercise trust powers,the Commission shall charge a fee of $2,000 if such power is to be exercisedthrough a trust department and $10,000 if such power is to be exercisedthrough 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.
(Code 1950, §§ 6-201.55, 6.1-185, 6.1-195.65; 1960, c. 402; 1966, c. 584;1972, c. 796; 1974, c. 181; 1976, c. 658; 1982, c. 455; 1984, c. 344; 1985,c. 425; 1986, c. 122; 1987, c. 172; 1988, c. 5; 1992, c. 283; 1998, c. 19.)
