Administrative Rules of Montana
Department 2 - ADMINISTRATION
Chapter 2.59 - BANKING AND FINANCIAL INSTITUTIONS
Subchapter 2.59.4 - Credit Unions
Rule 2.59.401 - CREDIT UNIONS - SUPERVISORY FEE
Current through Register Vol. 18, September 20, 2024
(1) The division invoices credit unions for semiannual assessments. The assessment is based on each credit union's total assets provided in its previous March and September financial performance reports.
(2) The fee is calculated based on the total assets of the credit union multiplied by .0000375, plus the flat fee listed in the table below.
|
Total Assets |
Flat Fee ($) |
|
$0 to $50 million |
$0 |
|
Over $50 to $100 million |
$3,000 |
|
Over $100 to $250 million |
$5,000 |
|
Over $250 million to $1 billion |
$7,500 |
|
Over $1 billion |
$15,000 |
Example: Credit Union A reports total assets of $36,169,980 x .0000375 plus $0 equals $1,356.37.
(3) The assessment is due 30 days after each invoice date, or July 31 and January 31, whichever is later.
(4) The assessment billed in December 2022 and collected in January 2023 is waived.
AUTH: 32-3-201, MCA; IMP: 32-3-201, MCA
