Section 58-1A-7 - Supervision feesA. Each consumer credit bank shall annually pay to the director a supervision fee, calculated on the basis of total assets as of December 31 of the immediately previous year: Total assets (000): | Assessment: |
Over | But not over | This amount | Plus | Of excess over (000) |
0 | 200,000 | 7,500 | 0.0000250 | 100,000 |
200,000 | 500,000 | 10,000 | 0.0006667 | 200,000 |
500,000 | 1,000,000 | 30,000 | 0.0000500 | 500,000 |
1,000,000 | 2,000,000 | 55,000 | 0.0000400 | 1,000,000 |
2,000,000 | | 95,000 | 0.0000300 | 2,000,000 |
B. The fee shall be paid on or before March 1 of each year. For failure to pay the supervisor fee when due unless excused for cause by the director, the consumer credit bank shall pay to the financial institutions division of the regulation and licensing department one hundred dollars ($100) for each day of delinquency.C. The director shall examine the condition of the consumer credit bank. A report of examination shall be sent to the board of directors of the consumer credit bank.Laws 1993, ch. 11, § 7; 1995, ch. 33, § 5.