Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 10. Finance and Financial Institutions
Agency 5. State Corporation Commission
Chapter 20. Banking and Savings Institutions
8/23/2019

10VAC5-20-30. Schedule Prescribing Annual Fees Paid for Examination, Supervision, and Regulation of State-Chartered Banks and Savings Institutions.

Pursuant to the provisions of §§ 6.2-908 and 6.2-1202 of the Code of Virginia, the State Corporation Commission hereby sets the following schedule of annual fees to be paid by state-chartered banks, savings institutions, and savings banks for their examination, supervision, and regulation:

SCHEDULE

Asset Interval

Fee

Assets Exceeding

But Not Exceeding

This Amount

Plus

Assets Exceeding

$0

$5 million

$6,900

0

x

5 million

25 million

6,900

.0004025

x

$5 million

25 million

100 million

14,950

.00023

x

25 million

100 million

200 million

32,200

.0001725

x

100 million

200 million

1 billion

49,450

.0001265

x

200 million

1 billion

5 billion

150,650

.0001035

x

1 billion

5 billion

564,650

.0000805

x

5 billion

The fee assessed using the above schedule shall be rounded down to the nearest whole dollar. The assessment shall be based on the institution's total assets as shown by its Report of Condition as of the close of business for the preceding calendar year.

A bank or savings institution which opens for business January 1 through June 30 shall be assessed a fee of $6,900 for that year.

A bank or savings institution which opens for business on or after July 1 shall be assessed a fee of $5,175 for that year.

Statutory Authority

§§ 6.2-908,6.2-1202, and 12.1-13 of the Code of Virginia.

Historical Notes

Derived from VR225-01-0204, eff. June 27, 1990; amended, Volume 17, Issue 22, eff. June 27, 2001; Volume 24, Issue 22, eff. June 23, 2008; Volume 28, Issue 01, eff. September 1, 2011.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.