La. Admin. Code tit. 10 § IX-101
Current through Register Vol. 50, No. 9, September 20, 2024
Section IX-101 - AssessmentsA. Fees and Charges 1. During 1991 and each year thereafter, all state- chartered credit unions shall pay an annual operating fee, the exact amount of which shall be fixed from time-to-time by the commissioner. During 1990, credit unions shall continue to be charged and be liable to the Louisiana Office of Financial Institutions for the examination fees presently fixed by R.S. 6:646(B)(3) and (4).2. Except as hereinafter provided, the annual operating fee set by the commissioner shall not exceed the fee calculated by the use of the following scale: a. when the assets are less than $100,000, the fee is $100;b. when the assets are greater than $100,000, but less than $1,000,000, the fee is $250;c. when the assets are $1,000,000, but less than $3,000,000, the fee is $1,000;d. when the assets are $3,000,000, but less than $4,000,000, the fee is $2,000;e. when the assets are $4,000,000, but less than 6,000,000, the fee is $3,000;f. when the assets are $6,000,000, but less than $10,000,000, the fee is $5,000;g. when the assets are $10,000,000, but less than $18,000,000, the fee is $7,500;h. when the assets are $18,000,000, but less than $30,000,000, the fee is $10,000;i. when the assets are $30,000,000, but less than $40,000,000, the fee is $12,000;j. when the assets are $40,000,000, but less than $50,000,000, the fee is $15,000;k. when the assets are $50,000,000, but less than $60,000,000, the fee is $18,000;l. when the assets are $60,000,000, but less than $70,000,000, the fee is $21,000;m. when the assets are $70,000,000, but less than $80,000,000, the fee is $24,000;n. when the assets are $80,000,000, but less than $90,000,000, the fee is $27,000;o. when the assets are $90,000,000, but less than $100,000,000, the fee is $30,000;p. when the assets are $100,000,000, the fee is $30,000 plus $5,000 for each 10,000,000 or fraction of 10,000,000 in excess of $100,000,000.3.a. Provided the fees assessed in Subparagraphs 2.a-p above fail to cover all rating costs of the credit union section of the Office of Financial Institutions, the commissioner shall have the authority to assess a floating rate fee based upon the total assets of each credit union as of the June 30 reporting date. This may only be done upon first notifying each credit union of the commissioner's intent to assess the additional fees and giving each credit union at least 30 days from providing notice of the proposed action to allow each credit union an opportunity to file oral or written objections to this action proposed by the commissioner.b. Furthermore, in the event that future monetary assistance is received from the National Credit Union Share Insurance Fund (NCUSIF) for regulatory services provided by this agency in regulating state-chartered credit unions, such compensation shall be utilized to reduce the operating costs that would normally be billed to the state-chartered credit unions.4. The annual operating fee shall be assessed on all state-chartered credit unions on a quarterly basis as provided for in Subparagraphs 2.a-p and Paragraph 3 above. Such fees are to be assessed no later than the last day of each quarter to be based on the total assets as reported at the end of the semiannual reporting dates of December 31 and June 30.5. Any credit union failing to pay such operating fee by the last day of the month following each quarterly assessment, may be charged a penalty not to exceed $50 for each day said fee remains unpaid.La. Admin. Code tit. 10, § IX-101
Promulgated by the Department of Economic Development, Office of Financial Institutions, LR 17:34 (January 1991), repromulgated LR 17:476 (May 1991).AUTHORITY NOTE: Promulgated in accordance with R.S. 6:646.