Virginia Administrative Code
Title 10 - FINANCE AND FINANCIAL INSTITUTIONS
Agency 5 - STATE CORPORATION COMMISSION
Chapter 50 - INDUSTRIAL LOAN ASSOCIATIONS
Section 10VAC5-50-30 - Schedule prescribing annual fees paid for examination, supervision, and regulation of industrial loan associations
Universal Citation: 0 VA Admin Code 5-50-30
Current through Register Vol. 41, No. 3, September 23, 2024
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.
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