NC H439

Establishes new charter fee of $250.00 and investigation fee of $2,500.00 for newly established credit unions.

Modifies late penalty structure for credit unions failing to submit timely reports, allowing the Administrator of Credit Unions to set per-day penalties between $75.00 and $750.00 (previously fixed at $75.00 per day).

Requires the Administrator to determine the penalty schedule on or before December 1 of each year for implementation in the following calendar year, subject to Credit Union Commission advice and consent.

Directs all penalty proceeds collected to be remitted to the Civil Penalty and Forfeiture Fund in accordance with G.S. 115C-457.2.

Becomes effective October 1, 2021.