CT Gen Stat § 36a-65. (Formerly Sec. 36-12a) (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 664a - Administration and Enforcement|Section 36a-65. (Formerly Sec. 36-12a) - Assessment of expenses of Department of Banking. State Banking Fund. Fees.

 (a)(1) Except as provided in subsection (e) of this section, the commissioner shall annually, on or after July first for the fiscal year commencing on said July first, collect pro rata based on asset size from each Connecticut bank and each Connecticut credit union an amount sufficient in the commissioner's judgment to meet the expenses of the Department of Banking, including a reasonable reserve for contingencies, provided the commissioner shall not collect such amount from a newly organized Connecticut credit union until July first following the third full calendar year after issuance by the commissioner of such credit union's certificate of authority. Such assessments and expenses shall not exceed the budget estimates submitted in accordance with section 36a-13.(2) In addition to any license, investigation or examination fee required under this title, the commissioner may levy assessments on persons licensed as money transmitters pursuant to sections 36a-595 to 36a-612, inclusive, and persons licensed as student loan servicers pursuant to sections 36a-846 to 36a-854, inclusive. The commissioner shall annually, on or after July first for the fiscal year commencing on said July first, collect such additional amounts sufficient in the commissioner's judgment to meet the expenses of the Department of Banking, including a reasonable reserve for contingencies. Such assessment shall be determined pro rata based on: (A) For licensed money transmitters, dollar volume of money transmissions in this state, and (B) for licensed student loan servicers, dollar volume of student education loans, as defined in section 36a-846, of student loan borrowers serviced. Each such licensee shall pay the commissioner the amount allocated to it not later than the date specified by the commissioner for payment. Failure by a licensee to timely make such payment shall constitute a violation of this section and a basis upon which the commissioner may take action against such licensee pursuant to section 36a-51.(3) Such assessments may be made more frequently than annually at the discretion of the commissioner. Such assessments for any fiscal year shall be reduced pro rata by the amount of any surplus from the assessments of prior fiscal years, which surplus shall be maintained in accordance with subdivision (4) of subsection (b) of this section. The commissioner may reduce any such assessment collected from a Connecticut bank up to the amount of any assessment for the same fiscal year collected from such bank by another state in which such bank has established a branch, limited branch or mobile branch. The commissioner may reduce any such assessment collected from a Connecticut credit union up to the amount of any assessment for the same fiscal year collected from such credit union by another state in which such credit union has established a branch. Such assessments for any fiscal year shall be a liability of such banks, credit unions and licensees as of the assessment date. Except as provided in this subsection, such assessments shall not be prorated for any reason.(b) (1) Each such bank and credit union shall pay the commissioner the amount allocated to it not later than the date specified by the commissioner for payment. Any such bank or credit union shall pay the commissioner an additional two hundred dollars if such payment is not paid by the time specified. The provisions of this subdivision shall not apply to any person required to pay the commissioner any fee for license or registration or the whole cost of all examinations made by the commissioner.(2) Except as provided in section 36a-60, the State Treasurer shall place all funds received from the commissioner in a special fund to be known as the State Banking Fund. Amounts in the fund may be expended only pursuant to appropriation by the General Assembly.(3) The Comptroller shall determine for each fiscal year the expenses of the Department of Banking.(4) The Secretary of the Office of Policy and Management shall examine the State Banking Fund annually after the Comptroller has made his determination and shall direct the Treasurer to set aside within the Banking Fund amounts in excess of a reasonable reserve for contingencies, which excess amounts shall be considered a surplus for the purposes of subsection (a) of this section.(c) (1) The fee for an examination of a trust department of a Connecticut bank shall be the actual cost of the examination, as such cost is determined by the commissioner.(2) The fee for an examination of a trust bank shall be the actual cost of the examination, as such cost is determined by the commissioner.(3) The fee for an examination of a Connecticut credit union service organization is the actual cost of the examination, as such cost is determined by the commissioner.(4) The fee for an examination of an out-of-state branch of a Connecticut bank or a branch in this state of an out-of-state bank shall be the actual cost of the examination, as such cost is determined by the commissioner, and the commissioner may share any such fee with other banking regulators in accordance with agreements entered into by the commissioner pursuant to subsection (j) of section 36a-145 and subdivision (5) of subsection (a) and subsection (b) of section 36a-412.(5) The fee for an examination of an out-of-state branch of a Connecticut credit union or a branch in this state of an out-of-state credit union shall be the actual cost of the examination, as such cost is determined by the commissioner, and the commissioner may share any such fee with other state or federal credit union regulators in accordance with agreements entered into by the commissioner pursuant to subsection (f) of section 36a-462a and subsection (b) of section 36a-462b.(6) A licensee under section 36a-489, 36a-541, 36a-556, 36a-581, 36a-600, 36a-628, 36a-656, 36a-671, 36a-719, 36a-801 or 36a-847 shall pay to the commissioner the actual cost of any examination of the licensee, as such cost is determined by the commissioner. If the licensee fails to pay such cost not later than sixty days after receipt of demand from the commissioner, the commissioner may suspend the license until such costs are paid.(d) (1) The fee for investigating and processing each application is as follows:(A) Establishment of (i) a branch under subdivision (1) of subsection (b) of section 36a-145, two thousand dollars; (ii) a mobile branch under subdivision (1) of subsection (d) of section 36a-145, one thousand five hundred dollars; (iii) a limited branch under subdivision (1) of subsection (c) of section 36a-145, one thousand five hundred dollars; (iv) a special need limited branch under subdivision (4) of subsection (c) of section 36a-145, five hundred dollars; (v) an out-of-state branch under subsection (j) of section 36a-145, a reasonable fee not to exceed two thousand dollars from which any fees paid to a state other than this state or to a foreign country in connection with the establishment shall be deducted; and (vi) an out-of-state limited branch or mobile branch under subsection (j) of section 36a-145, a reasonable fee not to exceed one thousand five hundred dollars from which any fees paid to a state other than this state or to a foreign country in connection with the establishment shall be deducted.(B) Sale of (i) a branch under subsection (i) of section 36a-145, two thousand dollars, except there shall be no fee for the sale of a branch of a Connecticut bank to another Connecticut bank or to a Connecticut credit union; and (ii) a limited branch, including a special need limited branch or mobile branch under subsection (i) of section 36a-145, a fee not to exceed one thousand five hundred dollars.(C) Relocation of (i) a main office of a Connecticut bank under subsection (a) of section 36a-81, two thousand dollars; and (ii) a branch or a limited branch under subsections (g) and (k) of section 36a-145, five hundred dollars.(D) Conversions from (i) a branch to a limited branch under subdivision (3) of subsection (c) of section 36a-145; and (ii) a limited branch to a branch under subdivision (3) of subsection (b) of section 36a-145, five hundred dollars.(E) Merger or consolidation involving a Connecticut bank under section 36a-125 or subsection (a) of section 36a-126, two thousand five hundred dollars if two institutions are involved and five thousand dollars if three or more institutions are involved.(F) Acquisition of assets or business under section 36a-210, two thousand five hundred dollars.(G) Organization of a holding company under section 36a-181, two thousand five hundred dollars.(H) Organization of any Connecticut bank under section 36a-70, including the conditional preliminary approval for an expedited bank, fifteen thousand dollars, except no fee shall be required for the organization of an interim Connecticut bank.(I) Reorganization of a mutual savings bank or mutual savings and loan association into a mutual holding company under section 36a-192, five thousand dollars.(J) Conversions under (i) sections 36a-135 to 36a-138, inclusive, five thousand dollars; (ii) sections 36a-139, 36a-139a and 36a-469c, two thousand five hundred dollars; and (iii) section 36a-139b, fifteen thousand dollars.(K) Acquiring, altering or improving real estate for present or future use in the business of the bank or purchasing real estate adjoining any parcel of real estate owned by the bank under subdivision (33) of subsection (a) of section 36a-250, five hundred dollars, except that no fee shall be charged for such application if it is filed in connection with an application to relocate a main office of a Connecticut bank under subsection (a) of section 36a-81 or establish (i) a branch in this state under subdivision (1) of subsection (b) of section 36a-145, (ii) a limited branch in this state under subdivision (1) of subsection (c) of section 36a-145, or (iii) a branch or limited branch outside of this state under subsection (j) of section 36a-145.(L) Investigation and processing an interstate banking transaction application filed under section 36a-411 or 36a-412, two thousand five hundred dollars, unless the transaction otherwise requires an investigation and processing fee under this section.(M) Issuance of a final certificate of authority for an expedited Connecticut bank, fifteen thousand dollars.(N) Establishment of a loan production office under subsection (o) of section 36a-145 or subsection (d) of section 36a-412, one thousand dollars.(2) The fee for investigating and processing each acquisition statement filed under section 36a-184 is two thousand five hundred dollars, except if the acquisition statement is filed in connection with a transaction that requires one or more applications, a reasonable fee not to exceed two thousand five hundred dollars.(3) Any fee for processing a notice of closing of a branch, limited branch or special need limited branch under subdivision (1) of subsection (f) of section 36a-145, if charged, shall not exceed two thousand dollars. There shall be no fee for processing a notice of closing of any mobile branch.(4) The fee for a miscellaneous investigation shall be the actual cost of the investigation, as such cost is determined by the commissioner.(e) (1) If the commissioner determines that the assessment to be collected from an uninsured bank or a trust bank pursuant to subdivision (1) of subsection (a) of this section is unreasonably low or high based on the size and risk profile of the bank, the commissioner may require such bank to pay a fee in lieu of such assessment. Each such bank shall pay such fee to the commissioner not later than the date specified by the commissioner for payment. If payment of such fee is not made by the time specified by the commissioner, such bank shall pay to the commissioner an additional two hundred dollars.(2) Any uninsured bank required to pay a fee in lieu of assessment shall also pay to the commissioner the actual cost of the examination of such bank, as such cost is determined by the commissioner.(1967, P.A. 591, S. 1; 1969, P.A. 598, S. 4; 1972, P.A. 84, S. 1; P.A. 74-95, S. 1, 2; 74-130, S. 1, 2; P.A. 75-67; 75-447, S. 1, 2; P.A. 76-231, S. 1, 6; P.A. 77-614, S. 19, 161, 587, 610; P.A. 78-72, S. 1–4; 78-121, S. 16, 113; 78-303, S. 38–40, 85, 136; P.A. 80-482, S. 236, 345, 348; P.A. 85-94, S. 1, 2, 6; P.A. 87-9, S. 2, 3; P.A. 88-65, S. 11; 88-150, S. 1; June Sp. Sess. P.A. 91-14, S. 19, 30; P.A. 92-12, S. 10; 92-89, S. 1, 20; P.A. 93-58, S. 1; 93-59, S. 1, 8; P.A. 94-122, S. 34, 340; P.A. 95-129, S. 2; P.A. 97-157, S. 1, 3; 97-208, S. 1, 2; 97-209, S. 2, 6; P.A. 01-183, S. 1, 11; P.A. 02-13, S. 2, 3; 02-47, S. 3; 02-73, S. 6, 7, 75; P.A. 03-196, S. 3; P.A. 04-136, S. 3, 4; P.A. 05-39, S. 2; P.A. 06-10, S. 1; 06-165, S. 1; P.A. 08-176, S. 37; P.A. 09-100, S. 5; P.A. 11-48, S. 10; 11-50, S. 3; 11-216, S. 5; P.A. 12-96, S. 19; P.A. 14-89, S. 19; P.A. 16-65, S. 45; P.A. 18-173, S. 6.)History: 1969 act applied filing fee in Subsec. (4)(b) to acquisitions and substituted “bank(s)” for “institution(s)”; 1972 act required filing fee of $500 in Subsec. (4)(a) and specified that assessment rate applies to special investigations re processing of new bank applications; P.A. 74-95 added Subsec. (4)(d) re filing fee for conversion of banking associations from one type to another; P.A. 74-130 replaced assessment rate of $100 per day and filing fee of $500 for new branch bank applications with combined assessment rate and filing fee of $1,000 and made $100 per day assessment rate applicable for miscellaneous investigations in Subsec. (4)(a); P.A. 75-67 replaced references to assessment rates and filing fees with general references to fees and reworded provisions re fee amounts to replace passive verbs; P.A. 75-447 transferred comptroller's duty to determine expenses of bank commissioner's office to commissioner and rephrased provisions in Subsec. (1), raised examiner's fee from $100 to $120, assisting examiners fee from $50 to $60 and minimum rate from $25 to $30 in Subsec. (2), added Subsec. (3)(b) to (d) re state banking fund and added Subsec. (6) re commissioner's powers to apportion expenses of his office and deposit of moneys in general fund; P.A. 76-231 required that assessments and expenses not exceed budget estimates under Subsec. (1), specified that fees received for chartering, licensing, etc. be deposited in banking fund under Subsec. (3)(b) and required that expenses of banking department be paid out of banking fund on and after July 1, 1976, in Subsec. (5); P.A. 77-614 replaced commissioner of finance and control with secretary of the office of policy and management and, effective January 1, 1979, replaced bank commissioner with banking commissioner within the department of business regulation and made banking department a division within that department; P.A. 78-72 added provision in Subsec. (1) re pro rata reductions of assessments, deleted reference to expenses of advisory council on banking in Subsec. (3)(c) and rephrased Subsec. (3)(d) so that amounts exceeding contingency reserve are no longer transferred to general fund; P.A. 78-121 deleted reference to private bankers in Subsec. (1), to building associations in Subsecs. (1) and (4) and to advisory council on banking in Subsecs. (1) and (3); P.A. 78-303 deleted references to expenses of banking commission in Subsecs. (1), (3) and (5) and to expenses of advisory council on banking in same Subsecs., in part repeating amendments enacted in P.A. 78-72 and P.A. 78-121; P.A. 80-482 restored banking division as independent department with banking commissioner as its head and abolished the department of business regulation; P.A. 85-94 amended Subsec. (1) to include credit unions and Subsec. (4)(b) to except credit unions; (Revisor's note: Pursuant to P.A. 87-9 “banking” commissioner and department were changed editorially by the Revisors to commissioner and department “of banking”); P.A. 88-65 deleted Subdiv. (1)(c) which authorized the commissioner to assess industrial banks for the expenses of the department, relettering as necessary, and deleted a reference to industrial bank in Subsec. (4)(c); P.A. 88-150 amended Subsec. (2) by increasing the fees for trust department examinations to $150 per day for the examiner in charge, $100 a day for an assistant examiner, and increasing the minimum rate for such examinations to $150, amended Subsec. (4)(a) to increase the fee for investigation of applications for new branches to $2,000, fee for investigation of applications to establish satellite devices to $150 and the fee for other miscellaneous investigations to $150 per day, amended Subsec. (4)(b) by deleting the reference to Sec. 36-92(2) and extending the application of the subsection to Secs. 36-140a, 36-193p, 36-193u and 36-193v, increasing the fee for investigation of applications for certain mergers, consolidations or acquisitions to $2,500, and increasing the fee for such mergers, consolidations or acquisitions involving three or more banks to $5,000, amended Subsec. (c) by deleting the reference to industrial bank, increasing the fee for investigating an application to organize new banks to $10,000 and establishing a fee of $5,000 for reorganizing a mutual savings institution and amended Subsec. (d) increasing fees for conversions of certain institutions to $5,000; June Sp. Sess. P.A. 91-14 amended Subsec. (3)(b) to provide that on and after September 19, 1991, amounts in state banking fund may be expended only pursuant to appropriation by general assembly and deleted Subsec. (5) which provided that on and after July 1, 1976, expenses connected with activities of banking department shall be paid out of state banking fund upon request of commissioner; P.A. 92-12 redesignated Subsecs. and Subdivs.; P.A. 92-89 added provisions re the collection of assessments pro rata based on asset size, added requirements that assessments shall be a liability of the institution as of the assessment date and shall not be prorated, added fees for investigating and processing acquisition statements under Sec. 36-423 and applications for armored car services (Revisor's note: The reference to Sec. 36-9gg in Subsec. (d)(6) was added editorially by the Revisors to assist users); P.A. 93-58 deleted Subdiv. (6) re fees for investigating and processing applications for armored car services; P.A. 93-59 amended Subsec. (d)(1) to add “the sale of branches” of savings and loan associations to the fee schedule for investigations and amended Subsec. (d)(2) to add a reference to Sec. 36-30 re purchase of assets and assumption of liabilities, effective May 10, 1993; P.A. 94-122 rewrote Subsec. (d) to require that fees be paid to the commissioner instead of the state treasurer, added new fees for closing, converting and relocating branches and organizing interim banks and reduced miscellaneous investigations fee, effective January 1, 1995; Sec. 36-12a transferred to Sec. 36a-65 in 1995; P.A. 95-129 amended Subsec. (d)(1)(E) to increase the fee for organization of a Connecticut bank from $10,000 to $15,000; P.A. 97-157 amended Subsec. (d)(1) to eliminate the fee for establishment and use of a satellite device, effective June 24, 1997; P.A. 97-208 amended Subsec. (d) to provide for a $1,500 fee for an application to establish a mobile branch or limited branch or to relocate a limited branch, a $500 fee for an application to establish a special need limited branch, a fee not to exceed $2,000 for processing a notice of closing of a special need limited branch, and a fee not to exceed $1,500 for processing an application for the sale of a limited branch, special need limited branch or mobile branch, to provide that no fee is required for the organization of an interim bank, to increase the fee for miscellaneous investigations from $100 to $150 per day, and to make technical changes, effective July 1, 1997; P.A. 97-209 amended Subsec. (d) to provide for a $2,500 application fee for conversions under Sec. 36a-469a, effective June 24, 1997; P.A. 01-183 amended Subsec. (d) to reorganize subsection, deleting former Subparas. (A) to (G) and adding new Subparas. (A) to (K) in Subdiv. (1) and deleting former Subdivs. (2) to (5) and adding new Subdivs. (2) to (4), to establish fees for establishment of out-of-state branches and out-of-state limited or mobile branches, conversion to an uninsured bank, expansion of community and uninsured banks' powers, investigating and processing an acquisition statement and the buying, altering or improving of real estate, to change fee for relocation of a branch or limited branch from $1,500 to $500, to change the conversion fees of branch to limited branch and of limited branch to branch from no more than $2,000 to $500, to change $150 fee for miscellaneous investigations to a fee of the actual cost of the investigation and to eliminate $1,500 application fee for sale of a special need or mobile branch and $2,000 fee for selling a branch of a Connecticut bank to another Connecticut bank or Connecticut credit union, effective July 1, 2001; P.A. 02-13 amended Subsec. (a) by adding provision permitting commissioner to reduce assessment of Connecticut bank up to amount collected for the same fiscal year by another state in which such bank has a branch, limited branch or mobile branch and amended Subsec. (b) by replacing former language re fee for trust department examinations with provision that the fee shall be the actual cost of examination as determined by the commissioner, effective July 1, 2002; P.A. 02-47 amended Subsec. (d)(1)(D) by replacing reference to “subdivision (1)” with reference to “subdivision (4)” of Sec. 36a-145(b); P.A. 02-73 amended Subsec. (a) by adding proviso that commissioner shall not collect assessment from newly organized Connecticut credit union until July first following the third year after issuance of certificate of authority, and adding provision re authority of commissioner to reduce assessment of Connecticut credit union up to amount collected for the same fiscal year by another state in which such credit union has a branch, amended Subsec. (b) by designating existing provisions as Subdiv. (1) and adding Subdivs. (2) and (3) re fee for examination of Connecticut credit union service organizations and various licensees, and amended Subsec. (d)(1)(J) by replacing reference to Sec. 36a-469a with reference to Sec. 36a-469c; P.A. 03-196 deleted former Subsec. (b) re determination of certain fees and payments, redesignated existing Subsec. (c) as new Subsec. (b), added new Subsec. (c) re determination of certain fees and payments, amended Subsec. (d)(1)(E) by substituting “involving” for “of”, amended Subsec. (d)(1)(F) by substituting “Acquisition of assets or business” for “Purchase of assets or assumption of liabilities, other than by a Connecticut credit union or federal credit union”, amended Subsec. (d)(1)(K) by inserting “in the business” and made technical changes, effective July 1, 2003; P.A. 04-136 amended Subsec. (c)(2) to substitute “trust bank” for “Connecticut bank organized to function solely in a fiduciary capacity” and added Subsec. (d)(1)(L) establishing a fee of $2,500 for investigation and processing an interstate banking transaction application filed under Sec. 36a-411 or 36a-412, unless transaction otherwise requires investigation and processing fee under section, effective May 12, 2004; P.A. 05-39 amended Subsec. (d)(1)(K) to provide that no fee shall be charged for an application to acquire, alter or improve real estate if filed in connection with an application under Sec. 36a-145(b) or (c), effective May 17, 2005; P.A. 06-10 amended Subsec. (d)(1)(k) to provide that no fee shall be charged for application for acquiring, altering or improving real estate for use in bank business if application is filed in connection with an application to establish a branch or limited branch outside of this state and to make technical changes, effective May 2, 2006; P.A. 06-165 amended Subsec. (d)(1)(A)(vi) to make a technical change, effective June 6, 2006; P.A. 08-176 amended Subsec. (c)(6) to increase payment time limit from 30 to 60 days and to substitute “may” for “shall automatically” re license suspension, effective July 1, 2008; P.A. 09-100 amended Subsec. (d)(1)(H) by adding “including the conditional preliminary approval for an expedited bank”, amended Subsec. (d)(1)(K) by adding “relocate a main office of a Connecticut bank under subsection (a) of section 36a-81”, and added Subsec. (d)(1)(M) re issuance of final certificate of authority for expedited Connecticut bank; P.A. 11-48 amended Subsec. (b)(1) to change deadline for paying commissioner from within 20 business days from mailing of notice to not later than date specified by commissioner and to make technical changes and amended Subsec. (b)(2) to add reference to Sec. 36a-60 and eliminate requirement that all moneys received for documents or reports sold by commissioner be placed in the State Banking Fund, effective July 1, 2011; P.A. 11-50 amended Subsec. (d)(1) to make a technical change in Subpara. (A), to require same fee for relocation of Connecticut bank branch outside Connecticut as is required for branch relocations within Connecticut in Subpara. (C) and to delete exception for conditional preliminary approval in Subpara. (M), effective June 13, 2011; P.A. 11-216 amended Subsec. (c)(6) to add reference to Sec. 36a-671, effective July 13, 2011; P.A. 12-96 amended Subsec. (d)(1) by adding Subpara. (N) re fee for establishment of a loan production office, effective June 8, 2012; P.A. 14-89 amended Subsec. (c)(6) to add reference to Sec. 36a-719; P.A. 16-65 amended Subsec. (a) by designating existing provisions as Subdivs. (1) and (3), adding Subdiv. (2) re assessments on licensed money transmitters and student loan servicers and making a conforming change, effective May 26, 2016; P.A. 18-173 amended Subsec. (a)(1) by adding “Except as provided in subsection (e) of this section,”, amended Subsec. (c)(6) by adding reference to Sec. 36a-847, added Subsec. (e) re payment of fees in lieu of assessment and the actual cost of examination, and made technical changes.