02-029 C.M.R. ch. 141, § - ASSESSMENTS - NONDEPOSITORY TRUST COMPANIES, UNINSURED BANKS, AND MERCHANT BANKS (REG. 41)

  1. § 029-141-I - AUTHORITY
  2. § 029-141-II - PURPOSE
  3. § 029-141-III - DEFINITIONS
  4. § 029-141-IV - GENERAL PROVISIONS

SUMMARY: In January 2002, the Bureau of Financial Institutions ("Bureau") promulgated Regulation 41 setting forth the assessment which must be paid by nondepository trust companies, uninsured banks, and merchant banks. The Regulation also defined fiduciary assets under management, custody or care upon which the assessment is based. This Regulation was revised in 2004 to provide for the transition from annual to quarterly assessments. It was revised again in 2009 to adjust assessment rates. The Regulation is now being amended to lower the assessment rate from twelve cents to nine cents per $10,000 of assets subject to assessment and to change the minimum assessment amount. The anticipated effective date is January 1, 2022. It is a routine technical rule as defined in 5 M.R.S. §8071(2)(A).

Notes

02-029 C.M.R. ch. 141, §
EFFECTIVE DATE:
January 22, 2002
AMENDED:
January 18, 2004 - filing 2004-15
January 1, 2009 - filing 2008-525
1/1/2022- filing 2021- 259

STATUTORY AUTHORITY: 9-B MRSA §§214(2-B) , 214(2-C) and 215

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