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HI SB2761

Bill

Status

Engrossed

3/6/2012

Primary Sponsor

Shan Tsutsui

Click for details

Origin

Senate

2012 Regular Session

AI Summary

  • Restructures regulatory fees for financial institutions by replacing hourly examination fees with a tiered annual fee system based on asset size, ranging from $5,000 for institutions with $500,000-$10,000,000 in assets to $15,000 for those with $5,000,000,000 or more.

  • Establishes specific nonrefundable application and approval fees for various financial institution activities, including $10,000 for organizing new banks/savings institutions, $5,000 for conversions, and $1,000-$5,000 for various operational approvals such as mergers, branches, and specialized activities.

  • Consolidates all fee structures into section 412:2-105 instead of having fees scattered across multiple statutes and rule-making authority, creating a unified fee schedule.

  • Adds $250 per day administrative fine for financial institutions that fail to pay required fees within 30 days of billing.

  • Effective date is July 1, 3000 (appears to be a typographical error in the legislation).

Legislative Description

Financial Institutions; Fees

Last Action

(H) Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with Representative(s) Ching, Fontaine, Johanson, Marumoto, Thielen voting aye with reservations; Representative(s) Ward voting no (1) and Representative(s) Chang, Herkes, Nakashima, Pine, Tokioka excused (5).

3/20/2012

Committee Referrals

Ways and Means2/14/2012
Commerce and Consumer Protection1/25/2012

Full Bill Text

No bill text available