Loading chat...
HI SB2761
Bill
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