Louisiana Administrative Code › Title 10 - FINANCIAL INSTITUTIONS, CONSUMER CREDIT, INVESTMENT SECURITIES AND UCC › Part IX - Credit Unions › Chapter 1 - General Provisions › Section IX-101 - Assessments

Current through Register Vol. 50, No. 6, June 20, 2024
A. Fees and Charges
1. During 1991 and each year thereafter, all
				state- chartered credit unions shall pay an annual operating fee, the exact
				amount of which shall be fixed from time-to-time by the commissioner. During
				1990, credit unions shall continue to be charged and be liable to the Louisiana
				Office of Financial Institutions for the examination fees presently fixed by
				R.S.
				6:646(B)(3) and
				(4).
2. Except as hereinafter provided, the annual
				operating fee set by the commissioner shall not exceed the fee calculated by
				the use of the following scale:
a. when the
				assets are less than $100,000, the fee is $100;
b. when the assets are greater than $100,000,
				but less than $1,000,000, the fee is $250;
c. when the assets are $1,000,000, but less
				than $3,000,000, the fee is $1,000;
d. when the assets are $3,000,000, but less
				than $4,000,000, the fee is $2,000;
e. when the assets are $4,000,000, but less
				than 6,000,000, the fee is $3,000;
f. when the assets are $6,000,000, but less
				than $10,000,000, the fee is $5,000;
g. when the assets are $10,000,000, but less
				than $18,000,000, the fee is $7,500;
h. when the assets are $18,000,000, but less
				than $30,000,000, the fee is $10,000;
i. when the assets are $30,000,000, but less
				than $40,000,000, the fee is $12,000;
j. when the assets are $40,000,000, but less
				than $50,000,000, the fee is $15,000;
k. when the assets are $50,000,000, but less
				than $60,000,000, the fee is $18,000;
l. when the assets are $60,000,000, but less
				than $70,000,000, the fee is $21,000;
m. when the assets are $70,000,000, but less
				than $80,000,000, the fee is $24,000;
n. when the assets are $80,000,000, but less
				than $90,000,000, the fee is $27,000;
o. when the assets are $90,000,000, but less
				than $100,000,000, the fee is $30,000;
p. when the assets are $100,000,000, the fee
				is $30,000 plus $5,000 for each 10,000,000 or fraction of 10,000,000 in excess
				of $100,000,000.
3.
a. Provided the fees assessed in
				Subparagraphs 2.a-p above fail to cover all rating costs of the credit union
				section of the Office of Financial Institutions, the commissioner shall have
				the authority to assess a floating rate fee based upon the total assets of each
				credit union as of the June 30 reporting date. This may only be done upon first
				notifying each credit union of the commissioner's intent to assess the
				additional fees and giving each credit union at least 30 days from providing
				notice of the proposed action to allow each credit union an opportunity to file
				oral or written objections to this action proposed by the
				commissioner.
b. Furthermore, in
				the event that future monetary assistance is received from the National Credit
				Union Share Insurance Fund (NCUSIF) for regulatory services provided by this
				agency in regulating state-chartered credit unions, such compensation shall be
				utilized to reduce the operating costs that would normally be billed to the
				state-chartered credit unions.
4. The annual operating fee shall be assessed
				on all state-chartered credit unions on a quarterly basis as provided for in
				Subparagraphs 2.a-p and Paragraph 3 above. Such fees are to be assessed no
				later than the last day of each quarter to be based on the total assets as
				reported at the end of the semiannual reporting dates of December 31 and June
				30.
5. Any credit union failing to
				pay such operating fee by the last day of the month following each quarterly
				assessment, may be charged a penalty not to exceed $50 for each day said fee
				remains unpaid.