10VAC5-50-30: Schedule prescribing annual fees paid for examination, supervision, and regulation of industrial loan associations

Pursuant to the provision of § 6.2-1414 of the Code of Virginia, the State Corporation Commission hereby promulgates the following schedule prescribing the annual fee to be paid by every industrial loan association for its supervision and regulation, as follows:

SCHEDULE

Asset Interval

Fee

Assets Exceeding

But Not Exceeding

Pay This Amount

Plus

Assets Exceeding

$0

$2 million

$1,200

0

2 million

5 million

1,200

.000900

x

$2 million

5 million

25 million

3,900

.000120

x

5 million

25 million

6,300

.000060

x

25 million

The assessment calculation shall be rounded down to the nearest whole dollar amount. The assessment shall be computed on the basis of the association's total assets as shown by its last Consolidated Report of Condition made as of the close of business for the preceding calendar year as filed with the Bureau of Financial Institutions.