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Virginia Administrative Code
Title 10. Finance And Financial Institutions
Agency 5. State Corporation Commission
Chapter 50. Industrial Loan Associations
11/21/2024

10VAC5-50-30. Schedule prescribing annual fees paid for examination, supervision, and regulation of industrial loan associations.

Pursuant to the provision of § 6.2-1414 of the Code of Virginia, the State Corporation Commission hereby promulgates the following schedule prescribing the annual fee to be paid by every industrial loan association for its supervision and regulation, as follows:

SCHEDULE

Asset Interval

Fee

Assets Exceeding

But Not Exceeding

Pay This Amount

Plus

Assets Exceeding

$0

$2 million

$1,200

0

2 million

5 million

1,200

.000900

x

$2 million

5 million

25 million

3,900

.000120

x

5 million

25 million

6,300

.000060

x

25 million

The assessment calculation shall be rounded down to the nearest whole dollar amount. The assessment shall be computed on the basis of the association's total assets as shown by its last Consolidated Report of Condition made as of the close of business for the preceding calendar year as filed with the Bureau of Financial Institutions.

Statutory Authority

§ 6.2-1404 of the Code of Virginia.

Historical Notes

Derived from VR225-01-0503, eff. July 1, 1990; amended, Virginia Register Volume 28, Issue 20, eff. June 1, 2012.

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