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Aug. 12, 2020
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2016 Statute


9-1726. Fees; rules and regulations. (a) Except as provided in subsection (b), at the time of filing any application described below, the applicant shall remit to the commissioner a nonrefundable fee in the amount of:

(1)   Bank or trust company charter    $2,500

(2)   New branch bank    750

(3)   Relocation of a branch bank or main office    750

(4)   Merger, consolidation or transfer of assets and liabilities    1,000

(5)   Change of control:

(A)   General    1,000

(B)   Bona fide gift or inheritance    500

(C)   Formation of one-bank holding company and associatedexchange of stock    500

(6)   Conversion to state charter    500

(7)   Fiduciary activities:

(A)   Trust authority    500

(B)   Trust branch    500

(C)   Trust service office    500

(D)   Contracting trustee agreement    500

(E)   Out of state trust facility    500

(8)   Change of name    250

(9)   Revenue bond pledgibility    200

(10)  Letter of good standing    50

(b) The commissioner may adopt rules and regulations to change the amount of the fees established in subsection (a) to an amount not to exceed 150% of any such fee established in subsection (a).

(c) The commissioner may waive any fee established by this section.

(d) Any applicant may be required by the commissioner to pay any additional cost associated with any examination or investigation if the commissioner determines that an on-site examination of the financial institutions or trust companies that are parties to the application is necessary.

(e) Within two weeks of the beginning of each legislative session, the commissioner shall submit to the senate committee on ways and means, the appropriate senate budget subcommittee, the house of representatives committee on appropriations and the appropriate house of representatives budget committee, a written summary of any rules and regulations adopted to establish fees pursuant to subsection (b) during the preceding year.

(f) The commissioner may adopt rules and regulations necessary to administer the provisions of this section.

History: L. 2015, ch. 38, § 12; July 1.

2020. Powered by KLISS. Rendered: 2020-08-12T23:56:19. Head Rev No: 634174