Nev. Admin. Code § 673.020 - Fee for supervision and examination: Collection; determination of amount; failure to pay; additional costs

Current through March 28, 2022

1. On or before June 30 of each year, the Commissioner of Financial Institutions will collect a fee from each savings and loan association for the supervision and examination of the savings and loan association pursuant to chapter 673 of NRS.
2. The fee is based on the portion of the annual budget approved by the Legislature for expenses related to the operations of the Commissioner and the Division of Financial Institutions minus all other revenues collected by the Division, not including reserves. Each savings and loan association shall pay a share of that amount as determined by the following schedule:

Total Assets

Base Fee

+ Fee Exceeding Base

Less than $5,000,000

$5,000

N/A

$5,000,000 or more, but less than $10,000,000

5,000

$.25 per thousand of assets exceeding $5,000,000

$10,000,000 or more, but less than $50,000,000

6,250

$.19 per thousand of assets exceeding $10,000,000

$50,000,000 or more, but less than $100,000,000

13,850

$.12 per thousand of assets exceeding $50,000,000

$100,000,000 or more, but less than $500,000,000

19,850

$.10 per thousand of assets exceeding $100,000,000

$500,000,000 or more, but less than $1,000,000,000

59,850

$.07 per thousand of assets exceeding $500,000,000

$1,000,000,000 or more, but less than $3,000,000,000

94,850

$.05 per thousand of assets exceeding $1,000,000,000

$3,000,000,000 or more, but less than $10,000,000,000

194,850

$.03 per thousand of assets exceeding $3,000,000,000

$10,000,000,000 or more, but less than $20,000,000,000

404,850

$.02 per thousand of assets exceeding $10,000,000,000

$20,000,000,000 or more

604,850

$.01 per thousand of assets exceeding $20,000,000,000

Any adjustment to the fee must be made in a proportionate amount that is based on the relationship that the fee determined for each savings and loan association bears to the total fee imposed on all savings and loan associations licensed pursuant to chapter 673 of NRS. The fee is calculated as of June 1 of each year based upon the number of savings and loan associations and the total assets of each savings and loan association as of December 31 of the previous year.

3. If the fee is not paid on or before June 30, the Commissioner will assess a penalty of 10 percent of the amount of the fee and an additional 1 percent of the fee for each month or portion of a month that the fee is not paid. The Commissioner may waive the penalty for good cause.
4. The fee does not include the cost of any extraordinary examination, audit, investigation or hearing conducted by the Division. The cost of any such examination, audit, investigation or hearing is $75 per hour.

Notes

Nev. Admin. Code § 673.020
Added to NAC by Comm'r of Financial Institutions, eff. 4-20-88; A 6-17-91; A by R054-16A, eff. 9/9/2016
NRS 658.101, 673.043, 673.430

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