3 AAC 01.110. Semiannual assessment of deposit institutions

(a) The department will assess a state-chartered deposit institution a regulatory fee based on total assets shown in the December 31 and June 30 report of condition. The assessment will be collected semiannually and will be computed using the following schedule:

(1) up to $20,000,000; $4,872 plus .00029111 of total assets;

(2) $20,000,001 or more, but not over $75,000,000; $9,900 plus .000064 of total assets over $20,000,000;

(3) $75,000,001 or more, but not over $150,000,000; $13,000 plus .00005333 of total assets over $75,000,000;

(4) $150,000,001 or more, but not over $200,000,000; $17,100 plus .0000800 of total assets over $150,000,000;

(5) $200,000,001 or more, but not over $1,000,000,000; $21,100 plus .00000500 of total assets over $200,000,000.

(b) The assessment will be included with the December 31 and June 30 reports of condition submitted on the form provided by the division. The assessment shall be submitted to the department no later than January 31 and July 31.

(c) After a certificate of authority has been issued, a new state-chartered deposit institution is subject to the full assessment in the second period for which a report of condition is due.

(d) In this section and in AS 06.01.010 , unless the context requires otherwise,

(1) "deposit institution" means a "financial institution" licensed or regulated by the department which is not a trust company, a bank holding company, a premium finance company, a small loan company, or Alaska Commercial Fishing and Agriculture Bank;

(2) "regular examination" and "periodic examination" mean an examination conducted at the interval authorized under AS 06;

(3) "special examination or investigation" means an examination not classified as a regular or periodic examination.

History: Eff. 11/28/92, Register 124

Authority: AS 06.01.010

AS 44.81.270 (c)

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.