N.J. Admin. Code § 3:5-4.3

Current through Register Vol. 56, No. 23, December 2, 2024

Section 3:5-4.3 - Base assessments

(a) Base assessments shall be determined by the Commissioner in accordance with 17:1C-46 taking into account such factors as the average size of the regulated entities within each regulated industry and the extent of the Division's regulatory activities required with respect to each type of regulated industry. The Department shall also consider the potential impact of the base assessment amount on business entities of various sizes in an effort to allocate the total assessment in a manner proportionate to the Department's regulatory activities with respect to each regulated entity.

(b) With the exception of credit unions, the base assessment for depository institutions shall not exceed $ 5,000.

(c) The base assessment for credit unions shall not exceed the following limits:

1. Credit unions having $ 10 million or less in assets: $ 500.00;

2. Credit unions having more than $ 10 million, but not more than $ 40 million in assets: $ 1,500; and

3. Credit unions having more than $ 40 million in assets: $ 5,000.

(d) The base assessment for licensees shall be limited in the following manner:

1. The Department shall assign a weight to the manner and complexity of regulating the businesses of licensees by determining a complexity factor greater than zero and not more than five.

2. In determining the complexity factor, the Department shall consider criteria such as statutorily mandated regulatory activities, number and locations of business sites, varying degrees of complexity in oversight and/or reporting requirements and any other criteria that the Commissioner deems appropriate.

3. The Department shall multiply the complexity factor by an amount not to exceed $ 300.00, which amount shall be published annually by the Department in the New Jersey Register as a public notice and in a Departmental Bulletin.

N.J. Admin. Code § 3:5-4.3

Public Notice: Notice of Base Assessments for Fiscal Year 2008 for Entities or Persons Licensed or Registered by the Division of Banking, Office of Consumer Finance.
See: 40 N.J.R. 7003(a).
Public Notice: Notice of Base Assessments for Fiscal Year 2008 for Entities or Persons Licensed or Registered by the Division of Banking, Office of Consumer Finance.
See: 41 N.J.R. 3112(a).
Public Notice: Notice of Base Assessments for Fiscal Year 2009 for Entities or Persons Licensed or Registered by the Division of Banking, Office of Consumer Finance.
See: 41 N.J.R. 4562(a).
Public Notice: Notice of Base Assessments for Fiscal Year 2010 for Entities or Persons Licensed or Registered by the Division of Banking, Office of Consumer Finance.
See: 42 N.J.R. 2991(b).
Public Notice: Notice of Base Assessments for Fiscal Year 2011 for Entities or Persons Licensed or Registered by the Division of Banking, Office of Consumer Finance.
See: 44 N.J.R. 178(b).