Kentucky Administrative Regulations › Title 808 - PUBLIC PROTECTION CABINET - DEPARTMENT OF FINANCIAL INSTITUTIONS › Chapter 1 - Administration › Section 808 KAR 1:140 - Fees

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				286.3-010,
				286.3-020,
				286.3-050,
				286.3-095,
				286.3-135,
				286.3-140,
				286.3-145,
				286.3-146,
				286.3-170,
				286.3-172,
				286.3-174,
				286.3-180,
				286.3-185,
				286.3-450,
				286.3-480,
				286.3-530,
				286.3-820,
				286.3-905,
				286.3-920,
				286.6-100,
				286.8-046,
				286.8-090,
				286.9-110
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				286.1-020(1) authorizes the
				commissioner to promulgate administrative regulations to interpret and carry
				out the provisions and intent of KRS Chapter 286.
				KRS
				286.3-145 and
				286.3-146
				authorize the commissioner to prescribe filing fees for trust companies that
				want to establish or acquire and maintain a trust office or trust
				representative office.
				KRS
				286.3-480 requires the commissioner to
				establish fees for certain investigations, applications, examination of assets,
				and extraordinary services performed for any financial institution.
				KRS
				286.3-480(1)(b) requires
				each state bank to pay an annual assessment based on the assets of the bank or
				branch.
				KRS
				286.6-100(1)(d) requires
				each credit union subject to supervision and examination by the commissioner to
				pay an annual fee to the commissioner based on the assets of the credit union
				and any fees for extraordinary services performed by the department for a
				particular credit union. This administrative regulation establishes examination
				fees, assessment fee schedules, and fees for related services for banks, credit
				unions, check casher licensees, and mortgage loan companies and brokers.
Section 1. Definitions.
(1) "Applicant" means a person or institution
			 submitting a written application, plan, or notice pursuant to KRS Chapter
			 286.3.
(2) "Extraordinary services
			 performed" means:
(a) Review of a request for
			 approval of a change of control made pursuant to
			 KRS
			 286.3-095(1), unless the
			 request was made concurrently with an application made pursuant to
			 KRS
			 286.3-905; or
(b) A special examination.
(3) "Institution" means an
			 institution that is subject to examination pursuant to
			 KRS
			 286.3-450 or
			 KRS
			 286.3-530.
(4) "Special examination" means:
(a) An abbreviated on-site review conducted
			 to determine an institution's progress in achieving compliance with laws,
			 administrative regulations, or a formal or informal enforcement action to
			 address unsafe and unsound banking practices;
(b) An off-site review of progress reports
			 submitted by an institution to the commissioner in conjunction with a formal or
			 informal enforcement action; or
(c)
			 A second examination conducted within the twenty-four (24) month timeframe set
			 forth in
			 KRS
			 286.3-450(1) that results
			 from an institution failing to comply with laws or administrative regulations
			 relating to banks or trust companies or from an institution engaging in unsafe
			 and unsound banking practices.