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 50. Industrial Loan Associations
4/22/2019

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.

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.