Ga. Comp. R. & Regs. R. 80-5-1-.06 - Fees for Credit Unions
(a) Applicants for approval by the Department
for the addition of a single geographic common bond group shall pay an
investigation fee of $1,000.
(b)
Applicants for Department approval of merger of two credit unions where neither
is considered financially or otherwise unsafe or unsound shall pay an
investigation fee of $1,000.
(c)
Applicants for Department approval of conversion from a federal or out of state
credit union to a state credit union shall pay an investigation fee of
$1,000.
(d) Applicants for
Department approval of a credit union subsidiary shall pay a processing fee of
$500 for each application that is processed as a regular application.
Applicants for approval of a credit union subsidiary are not required to pay a
processing fee for each application that is processed as an expedited
application.
(e) Applicants for
Department approval of conversion of a financial institution, other than a
credit union, to a state credit union shall pay an investigation fee of
$1,000.
(f) Applicants for new
branch offices or relocations of branches shall pay an investigation fee of
$1,250 for each application that is processed as a regular application.
Applicants for new branch offices or relocations of branches are not required
to pay an investigation fee for each application that is processed as an
expedited application. A simple redesignation of an existing credit union
location, which does not entail the closure or opening of a location, only
requires a written application but does not require a fee.
(g) Applicants for approval of a new credit
union shall pay an investigation fee of $20,000 for each application.
(h) If a credit union satisfies the factors
set out in the Department's Statement of Policies, the fee to exercise a single
trust power is $250 and the processing is expedited to 7 days. A completed
letter form application to exercise limited trust powers will be reviewed in 15
days; the fee is $750. A credit union that desires to exercise full trust
powers files a regular application. A complete application will be reviewed in
30 days; the fee is $1,250.
(i)
Applicants for Department approval of the acquisition of the majority of the
assets of a bank shall pay an investigative fee of $5,000.
(j) The Department may in its discretion
waive or reduce a fee based on the circumstances of the application.
Notes
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