State Fees Authority AK AL AR AZ CA CO CT DE · 2017. 11. 30. · 1 CUNA STATE GOVERNMENTAL AFFAIRS...

1 CUNA STATE GOVERNMENTAL AFFAIRS – NOVEMBER 2010

State Fees Authority

AK Silent

AL

Annual operating fee, filing fee, member entrance fee, late fees

Ala. Code §5-17-7 (operating fee, filing fee) Ala. Code § 5-17-14 (entrance fee) Ala. Code § 5-17-18 (late charges)

AR Loan fee Ark. Code §23-35-603(b)(2) (loan fees)

AZ Late fees, loan fees Ariz. Rev. Stat. §6-562 (B), (C) (loan fees)

CA Share transfer fee, late fees

Cal. Fin. Code §14852 (transfer fee) Cal. Fin. Code §15001 (late fee)

CO Annual assessment fee, merger fee

Colo. Rev. Stat. §11-30-106 (assessment fee) Colo. Rev. Stat. §11-30-122 (merger)

CT Franchise fee, filing fee, copying fees

Conn. Gen. Stat. §36a-436a (franchise fee, filing fee) Conn. Gen. Stat. §36a-436(d) (copying fee)

DE All Delaware credit unions are federally chartered

FL

Board appointment fee, debt cancellation product fee, filing fee, semiannual assessment fee, merger fee, conversion fee

Fla. Stat. §655.0385(4) (board appointment fee) Fla. Stat. §655.947 (debt cancellation products) Fla. Stat. §657.005(3) (filing fee) Fla. Stat. §657.005 (assessment fee) Fla. Stat. §657.065(1) (merger fee) Fla. Stat. §657.066(3) (conversion fee)

GA Investigation fee, entrance fee, entrance fee,

Ga. Code Ann. §7-1-630(f) (investigation fee) Ga. Code Ann. §7-1-634 (b), (2) (investigation fee) Ga. Code Ann. §7-1-651(a) (entrance fee) Ga. Code Ann. §7-1-659(a) (entrance fee)

HI

Dormant account maintenance fee, loan fees, service charges

Haw. Rev. Stat. §412:10-310 (dormant account fee) Haw. Rev. Stat. §412:10-404 (loan fees) Haw. Rev. Stat. §412:10-703 (service charges)

IA Examination fee, late fees, entrance fee, overdraft fees

Iowa Code §533.112 (examination fees) Iowa Code §533.301 (late fees) Iowa Code §533.302 (entrance fee) Iowa Code §533.313 (share draft fees)

ID

Application fees, examination fees, interstate credit union fees, entrance/member fee, late fee

Idaho Code Ann. §26-2108(e) (entrance fee) Idaho Code Ann. §26-2108(n) (late fee) Idaho Code Ann. §26-2134 (application fee) Idaho Code Ann. §26-2136 (examination fee) Idaho Code Ann. §26-2152 (assessment fee – interstate credit unions)

IL

Entrance/member fee, service fees, service fees to non-members, late fees

205 Ill. Comp. Stat. §305/13(3) (entrance/membership fee) 205 Ill. Comp. Stat. §305/13 (15), (19) (service fees) 205 Ill. Comp. Stat. §305/42.5 (services to non-members)


205 Ill. Comp. Stat. §305/68 (late fees)

IN Silent

KS Organization fee Kan. Stat. Ann. §17-2201(5)(c) (organization fee)

KY Examination fees, service fees, late fees

Ky. Rev. Stat. Ann. §286.6-100 (examination fees) Ky. Rev. Stat. Ann. §286.6-656 (service fees) Ky. Rev. Stat. Ann. §286.6-445 (late fees)

LA Membership fee, late fee, loan fees

La. Rev. Stat. Ann. §645 (membership fee) La. Rev. Stat. Ann. §654 (C) (late fees, loan fees)

MA Deposit return item fee

Regulatory Bulletin 2.3-106 (deposit return item fees)

MD Branch filing fee, late fee

Md. Code Fin. Law §6-807(b)(iii) (branch filing fee) Md. Code Fin. Law §6-328(a)(15)

ME Fees for mergers, conversions, and acquisitions

Me. Rev. Stat. Ann. tit §877 (merger, conversion and acquisition fees)

MI Entrance fee, late fees, other charges

Mich. Comp. Laws §490.361(1) (entrance fee) Mich. Comp. Laws §490.401(2)(h) Mich. Comp. Laws §490.412 (check cashing fees)

MN Entrance fee, loan fees, supervisory fees, merger fees

Minn. Stat. §52.12 (entrance fee) Minn. Stat. §52.141 (loan expenses) Minn. Stat. §52.06 (supervision fees) Minn. Stat. §52.203 (merger fees)

MO

Organization fee, membership fee, account fees, annual exam fees, entrance and transfer fees

Mo. Rev. Stat. §370.040(4) (organization fee) Mo. Rev. Stat. §370.071 (5) (membership fee) Mo. Rev. Stat. §370.073(account fees) Mo. Rev. Stat. §370.107 (annual exam fees) Mo. Rev. Stat. §370.270 (entrance and transfer fee)

MS Late fee, ATM fees Miss. Code Ann. §81-13-39 (late fees) Miss. Code Ann. §81-13-62(3) (ATM fee)

MT Late fee, service fees Mont. Code Ann. §32-3-401(13) (late fees) Mont. Code Ann. §32-3-401(16) (service fees)

NC Supervision fees, entrance fee, annual membership fee

N.C. Gen. Stat. §54-109.14 (supervision fees) N.C. Gen. Stat. §54-109.21(5) (entrance fee) N.C. Gen. Stat. §54-109.21(16) (entrance fee)

ND Filing fee, entrance fee, examination fee, merger fee,

N.D. Cent. Code §6-06-02(6) (filing fee) N.D. Cent. Code §6-06-07 and §6-06-16 (entrance fee) N.D. Cent. Code §6-06-08 (examination fee) N.D. Cent. Code §6-06-36 (merger fee)

NE

entrance fee, membership fees, account fees, loan fees, late fees, service fees

Neb. Rev. Stat. §21-1744 (entrance and membership fees) Neb. Rev. Stat. §21-1780 (account fees) Neb. Rev. Stat. §21-1789 (loan fees and late fees)


Neb. Rev. Stat. §21-1798 (service fees)

NH Entrance fee , service fees,

N.H. Rev. Stat. Ann. §394-B:35(XII) (entrance fee) N.H. Rev. Stat. Ann. §394-B:35(XIII) (service fee)

NJ Application fee, service fees, late fees

N.J. Rev. Stat. §17:13-81(3)(a) (application fee) N.J. Rev. Stat. §17:13-89(s) (service fee) N.J. Rev. Stat. §17:13-104 (late fees)

NM Supervision fees, membership fee, service fees

N.M. Stat. §58-11-5(D) (Supervision fees) N.M. Stat. §58-11-21 (membership fee) N.M. Stat. §58-11-53 (service fee)

NV

application fee, Initial investigation fee, annual fee, entrance fee, annual membership fee, service fees, examination fees, merger fees, conversion fees

Nev. Rev. Stat. §678.310 (application fee) Nev. Rev. Stat. §678.3435 (investigation fees, annual fees) Nev. Rev. Stat. §678.480 (entrance, membership, and service fees) Nev. Rev. Stat. §678.790 (examination fee) Nev. Rev. Stat. §678.800 (merger fee) Nev. Rev. Stat. §678.810 (conversion fee)

NY Entrance fee, transfer fee, service fee, late fees

N.Y. Ban. Law §454(4),(5),(7),(10) (entrance, transfer, service and late fees)

OH

entrance fee, filing fee, supervisory fee, document service charge and filing fees, service fees

Ohio Rev. Code §1733.04(4) (entrance fee) Ohio Rev. Code §1733.07 (C) (filing fee) Ohio Rev. Code §1733.32 (E)(1) (supervisory fee) Regulation: 1301:9-1-04 (supervisory fee) Regulation 1301:9-2-09 (document and filing fees) Regulation 1301:9-2-26 (service fees)

OK

Late fees, entrance fees, merger fees, conversion fees, additional amendment application fees

Okla. Stat. tit. 6, §2006(11), (13) (late and entrance fees) Regulation: 180:10-1-15 (merger , conversion, additional amendment application fees)

OR

Service fees, annual regulatory fee, amendment and late charge fees

Or. Rev. Stat. §723.152 (28) (service fees) Regulation: 441-710-0500 (regulatory fee) Regulation: 441-710-0505 (amendment and late charge fees)

PA

Application fee, additional powers fee (CDCUs only), entrance fee, loan fees, collection fees, other fees, late fees,

17 Pa. Cons. Stat. §304 (application fee) 17 Pa. cons. Stat. §501 (d) (additional powers fee (CDCUs) 17 Pa. Cons.Stat. § 509 (a),(b), (c), (d), (e) (entrance, loan, collection, other fees, and late fees)

RI Silent

SC

Examination fee, entrance fee, annual membership fee, loan fees, late fees, service fees

S.C. Code Ann. §34-26-270 (examination fees) S.C. Code Ann. §34-26-500 (membership fee) S.C. Code Ann. §34-26-820 (loan and late fees) S.C. Code Ann. §34-26-930 (service fees)


SD All South Dakota credit unions are federally chartered

TN Entrance fee, incorporation fee

Tenn. Code Ann. §45-4-301 (entrance fee) Tenn. Code Ann. §45-4-802 (incorporation fee)

TX Service charges, loan fees, examination fees, ATM fee

Tex. Fin. Code §123.210 (service fees) Tex. Fin. Code §124.101 (loan fees) Tex. Fin. Code §126.055 (examination fee) Rule: §91.408 (ATM fee)

UT Entrance fee, membership fee, service charges

Utah Code §7-9-5(6), (9) (entrance, service fees)

VA

Annual assessment fee, loan fees, late fees, supervisory and examination fees (out-of-state credit unions only)

Va. Code Ann. §6.1-225.5 (assessment fee) Va. Code Ann. §6.1-225.52 (loan and late fees) Va. Code Ann. §6.1-225.61:1 (supervisory and examination fees – out-of-state-credit unions only)

VT

Organization fees, examination fees, application fees, service fees, entrance fee, membership fee, late fees, organization fee (CUSO)

8 V.S.A. §30202 (organization fees) 8 V.S.A. §30601 (examination fees) 8 V.S.A. §31101 (application fees) 8 V.S.A. §32102 (8), (11), (17), (19) (service, entrance/membership, late fees) 8 V.S.A. §32701 (organization fee)

WA Service fees, late fees, assessment fee

Wash. Rev. Code §31.12.402 (4), (5) (service fees and late fees) Wash. Rev. Code § 31.12.426(1) (assessment fee)

WI Filing fee, amendment fee,

Wis. Stat. §186.02(1) (filing fee) Wis. Stat. §186.02(4) (amendment fee)

WV Assessment fee, service fees

W.Va. Code §31C-1-8 (assessment fee) W. Va. Code §31C-8-3 and §31-8-4 (service fees)

WY All Wyoming credit unions are federally chartered


Alabama: § 5-17-7. Operating fees; fee filed with certificate of organization.

(a) During 1986 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 administrator of the Alabama Credit Union Administration. During 1985, credit unions shall continue to be charged and be liable to the Alabama Credit Union Administration for the examination fee presently fixed by the administrator.

(b) Except as hereinafter provided, the annual operating fee set by the administrator shall not exceed the fee calculated by use of the following scale:

(1) Credit unions having total assets of less than $500,000.00 shall pay a fee not in excess of $.12 for each $100.00 of assets, subject to a minimum of $200.

(2) Credit unions with assets of $500,000.00 or more shall pay a fee of $600.00 plus $.05 per $100.00 of assets over $500,000.00 but not in excess of $1,000,000.00 plus three and one-half cents per $100.00 of assets of $1,000,000.00 but not in excess of $5,000,000.00 plus $.02 per $100.00 of assets over $5,000,000 but not in excess of $10,000,000 plus one and eight-tenths per $100.00 on assets over $10,000,000.00 but not in excess of $20,000,000.00 plus one and six-tenths cents per $100.00 on assets over $20,000,000.00 but not in excess of $50,000,000.00 plus one and two-tenths cents per $100.00 on assets over $50,000,000.00 but not in excess of $100,000,000.00 plus $.01 per $100.00 on all assets over $100,000,000.00.

(c) On one occasion, the administrator may fix an annual operating fee which is not more than 10 percent greater than the above fee scale if the credit union board approves such fee, if said fee is not in effect for more than one year, and if the administrator establishes that such fee is necessary in order that the Alabama Credit Union Administration not be operated at a deficit and that the Alabama Credit Union Administration operated at a deficit during the preceding year.

(d) The annual operating fee shall be paid on or before the last day of January of each year, based upon the assets of the credit union as of the end of the previous year. Any credit union failing to pay said operating fee may be charged a penalty assessment not to exceed $50.00 for each day that said fee remains unpaid.

(e) Whenever application is made to the administrator of the Alabama Credit Union Administration for permission to organize a credit union, the applicant shall at the time of filing the certificate of organization with the administrator of the Alabama Credit Union Administration pay a fee not to exceed $100.00 for the purpose of paying the costs incidental to the determination by the administrator of the Alabama Credit Union Administration whether such certificate of organization shall be approved. The administrator of the Alabama Credit Union Administration shall from time to time fix the exact charge to be made, but in no event shall the charge exceed $100.00. The provisions of this subsection shall not apply to any existing credit union seeking charter conversion.

(f) All fees collected under this section shall be paid into the special fund set up by the state treasurer. This special fund shall be used to pay the salaries of the officials and employees and the expenses of the Alabama Credit Union Administration including the purchase of equipment, vehicles and supplies necessary for the examination and supervision of credit unions and may be spent by the administrator of the Alabama Credit Union Administration for the uses and purposes specified herein. No taxes, fees, assessments, penalties or other revenues collected by the Alabama Credit Union Administration shall be used for any purpose other than the expenses of operating the Alabama Credit Union Administration.

(g) All the jurisdiction, authority, powers and duties now conferred upon and imposed by law upon the superintendent of banks and the supervisor of the credit union bureau in relation to the management, control, regulation and general supervision of credit unions are hereby transferred to, conferred upon and imposed upon the Alabama Credit Union Administration and administrator.


(h) All assets primarily used by the bureau of credit unions, including books, records, documents, furniture, equipment and supplies are hereby transferred to the Alabama Credit Union Administration. All funds in the special fund previously maintained by the state treasurer for the bureau of credit unions are hereby transferred to the Alabama Credit Union Administration. All taxes, fees, assessments, penalties or other revenues owed to or collected by the bureau of credit unions are hereby transferred to the Alabama Credit Union Administration. Any employee presently employed by the superintendent of banks who is presently primarily involved with the bureau of credit unions shall be employed by the Alabama Credit Union Administration

§ 5-17-14. Capital; lien on shares and deposits of members; entrance fee.

The capital of a credit union shall consist of the payments that have been made to it by the several members thereof on shares. The credit union shall have a lien on the shares and deposits of a member for any sum due to the credit union from said member or for any loan endorsed by him. A credit union may charge an entrance fee as may be fixed by the bylaws; provided, that such entrance fee shall not exceed $1.00.

§ 5-17-18. Interest rates and finance charges on loans; late charge.

State chartered credit unions may charge such rates of interest and other finance charge as are authorized for other financial institutions pursuant to the Alabama consumer credit act or other applicable law and may charge a late charge in an amount authorized by the Alabama consumer credit act, provided that such late charge may only be assessed on simple interest loans and simple interest open-end credit plans. As used herein, "simple interest" means charging an interest rate on the unpaid balances of the amount outstanding from time to time for the actual time such balance is outstanding.

Arizona: 6-562. Interest rates and other charges A. The board of directors shall determine the interest rates on loans. The board may also authorize any refund of interest on loans under the conditions it may prescribe. B. In addition to interest charged on loans, a credit union may charge all reasonable fees and expenses in connection with the making, closing, disbursing, extending, modifying, collecting or renewing of loans. C. A credit union may assess charges to members, in accordance with board policy, for failure to meet their obligations to the credit union in a timely manner.

Arkansas: 23-35-603. Loans and extensions of credit in advance. (a) A credit union may loan to members for a provident or productive purpose and upon such security as the bylaws may provide and as the credit committee or loan officer shall approve. (b) (1) No loan shall bear an interest rate to exceed the highest lawful rate permitted under the Constitution of the State of Arkansas. (2) No credit union shall charge the borrower anything of value in connection or in association with the loan, other than repayment of the unpaid principal balance and interest. However, on loans secured by real estate a credit union may charge a loan origination fee not to exceed three percent (3%) of the original principal balance of the loan. A borrower may be charged for the cost of appraisals and credit investigations. If permitted by the bylaws, the borrowing members may be charged for the cost of the filing fees on security instruments in connection with the transaction. (c) Every application for a loan shall be made upon a form, which the credit committee has prescribed and the board of directors of the credit union has approved, which shall state at least the purpose for which the loan is desired, the security, if any, offered, the amount of the loan being applied for, and any other information which may be required to determine the financial ability of the applicant to repay the loan.


(d) Every loan shall be evidenced by a written instrument. (e) (1) No unsecured loan shall be made to any member in an aggregate amount in excess of three thousand dollars ($3,000). (2) No secured loan shall be made to any member in an aggregate amount in excess of ten percent (10%) of the credit union's total assets. (3) No loan shall be made to any member if, in the aggregate, the balances of the secured and unsecured loans outstanding to that member exceed ten percent (10%) of the total assets of the credit union. (4) Secured and unsecured loans made against joint accounts shall be included in the aggregate and shall not be allocated to each joint tenant in determining the loan amounts set forth in this subsection. (5) If the State Credit Union Supervisor in his discretion determines that the ten percent (10%) limit as set out in this subsection is operating to the detriment of a credit union, he may by rule or order reduce the ten percent (10%) limit. (f) (1) No loan shall be made unless it has been approved by a loan officer or has received approval of a majority of the members of the credit committee in conformity with the other provisions of this chapter. (2) A loan or aggregate of loans to a director or member of the supervisory or credit committee of the credit union making the loan which exceeds six thousand dollars ($6,000) plus pledged shares shall be approved by a majority of the credit committee and a majority of the board members present. No member of the board or the credit committee may take part in the consideration of his loan application. (g) (1) Loans may be granted to members of the credit union, secured by a first or second mortgage on real estate. The aggregate of the loans shall not exceed eighty percent (80%) of the market value of the real estate which is set forth in an appraisal prepared by an independent qualified real estate appraiser. The loans shall also provide for substantially equal monthly payments for insurance premiums and taxes assessed against the security. The total outstanding balance of all first mortgage loans on real estate shall not exceed thirty percent (30%) of the outstanding shares of the credit union. (2) For purposes of this subsection and applicable rules: (A) "Appraisal" means an objective estimate of value based upon a physical examination and evaluation which shall disclose the market value of the security offered by use of the market sales approach which shall be supported by an analysis of comparable properties in the immediate area. The market value shall also be supported by use of the cost and income appraisal methods if conditions warrant and shall include documentation of the purchase price of the property offered as security; (B) "Independent qualified real estate appraiser" means a person who is experienced in the appraisal of the type of real estate being offered as security, who is actively engaged in real estate appraisal work and whose qualifications are demonstrated by membership in a national professional appraisal organization, or who is licensed to appraise in the state in which the real estate is located, or who is acceptable as an appraiser by an insuring or guaranteeing agency of the federal or state government and who has no present or contemplated future interest in the property being appraised; and (C) "Market value" means the highest price which real property will bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. (h) (1) A credit union may make any loan insured by any federal program on terms set out in the applicable federal legislation, and that insurance shall be deemed adequate security. (2) (A) In addition to generally accepted types of security, the endorsement of a note by a guarantor or assignment of shares or wages, in a manner consistent with the laws of Arkansas, shall be deemed security within the meaning of this chapter. (B) For purposes of this subsection and applicable rules a "guarantor" means one who enters into an enforceable guaranty agreement and provides current financial statements showing a net worth free of homestead and subject to execution in an amount at least equal to the amount of the loan.


(C) The guaranty agreement and the financial statements must be presented to the credit committee of the credit union for consideration and then placed in the file of the borrower. (3) The adequacy of all securities shall be within the determination of the credit committee or loan officer, subject to the provisions of this chapter and the bylaws. (i) A member may receive a loan in installments or in one (1) sum, and he may pay the whole or any part of this loan on any day in which the credit union office is open for business. (j) The credit committee may approve an extension of credit in advance, upon its own motion or upon application by a member, and loans may be granted to the member within the limits of the extension of credit. Where an extension of credit has been approved, applications for loans need no further consideration as long as the aggregate obligation does not exceed the limits of the extension of credit. The credit committee shall review all extensions of credit at least once a year, and any extension of credit shall expire if the member becomes more than ninety (90) days delinquent in his obligations to the credit union. (k) No director, member of the credit or supervisory audit committee, or credit union employee shall cosign, endorse, or act as a guarantor for any borrower from the credit union.

California: 14852. Every credit union may charge a reasonable fee for the transfer of its shares. 15001. Every credit union may assess charges as approved by the board of directors for failure to meet punctually obligations to the credit union. Any late charge shall be made only once for each delinquent payment and shall be subject to Section 2954.5 of the Civil Code, Division 1.1 (commencing with Section 4000) of this code, and any other applicable law.

Colorado: 11-30-106. Examinations - reports - powers of commissioner. (1) (a) Credit unions shall be under the supervision of the commissioner. Every credit union shall be examined by the commissioner at least once during any eighteen-month period. The commissioner shall assess each credit union an amount to cover the expenses of the division attributable to the supervision of state-chartered credit unions subject to the commissioner's jurisdiction. The amount assessed shall be determined according to a schedule or schedules or any other method established by the commissioner to be appropriate, but the assessment shall be at the same rate for all credit unions; except that the commissioner may establish a separate rate schedule for corporate and central credit unions. The commissioner may waive the payment of all or a portion of the assessment with respect to the year in which a charter is issued or cancelled or in which a final distribution is made in liquidation. (b) The commissioner shall establish the division's annual assessment to be collected at least semiannually in such amounts as are sufficient to generate the moneys appropriated by the general assembly to the division for each fiscal year. (2) Annually, every credit union shall file a financial report with the commissioner on a date established by the commissioner, in a form prescribed by the commissioner. Said commissioner may require that additional reports be filed. For failure to file a report when due, unless excused for cause, a credit union shall pay to said commissioner a penalty, as prescribed by regulation, for each day of delinquency in filing. 11-30-122. Merger. 5) The duplicate of the certificate of merger with the board's certificate of approval attached shall be filed with the secretary of state who shall make a record of said certificate and return it, with his certificate of record attached, to the board for permanent record. The fee for said filing shall be determined and collected pursuant to section 24-21-104 (3), C.R.S.

Connecticut:

http://www.michie.com/colorado/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=COCODE&d=24-21-104&sid=115d17d4.210a391e.0.0#JD_24-21-104


Sec. 36a-436a. Franchise and filing fee payable to the Secretary of the State. (a) The franchise and filing fee payable to the Secretary of the State shall be thirteen dollars for the filing of a certificate of incorporation upon the incorporation of a Connecticut credit union under the laws of this state. (b) The filing and certification fee payable to the Secretary of the State shall be thirteen dollars for the filing and certification of (1) a certificate of amendment to the certificate of incorporation of a Connecticut credit union, (2) a merger agreement, plan of merger, certificate of amendment to certificate of incorporation and the commissioner's approval pursuant to subdivision (3) of subsection (b) of section 36a-468a, (3) an officer's certificate of conversion and the commissioner's approval pursuant to subsection (g) of section 36a-468b, or (4) a certificate of incorporation, certificate of authority and the commissioner's approval pursuant to subsection (c) of section 36a-469b. (c) The filing fee payable to the Secretary of the State shall be thirteen dollars for the filing of a certificate of authority and certificate of incorporation pursuant to subsection (f) of section 36a-469c. (d) The fee payable to the Secretary of the State for preparing and furnishing a copy of any document, instrument or paper filed or recorded relating to a credit union shall be: (1) For each copy of each document thereof regardless of the number of pages, twenty dollars; and (2) for affixing the official seal thereto, five dollars.

Florida: 655.0385 Disapproval of directors and executive officers. (4) Beginning 1 year after opening, each notification of a proposed appointment of an individual to the board of directors must be accompanied by a nonrefundable fee of $35. 655.947 Debt cancellation products. (1)Debt cancellation products may be offered, and a fee may be charged, by financial institutions and subsidiaries of financial institutions subject to the provisions of this section and the rules and orders of the commission or office. As used in this section, the term “financial institutions” includes those defined in s. 655.005(1)(h), insured depository institutions as defined in 12 U.S.C. s. 1813, and subsidiaries of such institutions. 657.005 Application for authority to organize a credit union; investigation. (3)The application shall be submitted to the office on forms and in the manner prescribed by rules adopted by the commission and shall be accompanied by a nonrefundable filing fee of $250. 657.053 Assessments; state credit unions. Each state credit union shall pay to the office a semiannual assessment equal to $500 plus 15 cents for each $1,000 of total assets. The amounts of all assessments provided for in this section shall be deemed to be maximum amounts. The commission has the authority to establish, by rule, and from time to time to change, assessments in amounts less than the maximum amounts stated in this section. 657.065 Merger. (1)Upon the filing of an application with the office by the constituent credit unions, and upon approval by the office, credit unions may be merged with a surviving state credit union, as prescribed in this code, except that the action by a merging federal credit union must be taken in the manner prescribed by, and is subject to, any limitations or requirements imposed by federal law and regulations. The application must be accompanied by a merger plan and agreement together with a certified copy of the authorizing resolutions of the board of directors of constituent credit unions showing approval by a majority of the entire board of directors of each credit union, as provided in this section, and a nonrefundable application fee of $500. The fee may be waived by the office for a merger under subsection (6). 657.066 Conversion from state credit union to federal credit union and conversely. (3) Upon the written approval of the authority under the supervision of which the converting credit union is to operate, the converting credit union shall become a credit union under this chapter or under the laws of the United States, as the case may be, and thereupon all assets shall become the property of the converted credit union, subject to all existing liabilities against the credit union. All shares and deposits shall remain intact. Any federal credit union seeking to convert to a state-chartered credit union shall pay a nonrefundable filing fee of $500. The office may


conduct an examination of any converting federal credit union before approving the conversion and the converting credit union shall pay a nonrefundable examination fee as provided in s. 655.411(1)(b).

Hawaii: §412:10-310 Dormant accounts. (a) If there has been no activity on a share or deposit account for one year, the credit union may impose a reasonable maintenance fee. §412:10-404 Other charges. (a) In addition to interest charged on loans, a credit union may charge members all reasonable expenses in connection with the making, closing, disbursing, extending, collecting or renewing of loans. (b) A credit union may assess charges to members, in accordance with the bylaws, for failure to meet their obligations to the credit union in a timely manner. §412:10-703 Money-type instruments. A credit union may collect, receive and disburse monies in connection with the providing of negotiable checks, money orders, travelers checks, and other money-type instruments, and the providing of services through automated teller machines and for such other purposes as may provide benefit or convenience to its members. A credit union may charge fees for such services. [L 1993, c 350, pt of §1]

Georgia: 7-1-630. Initial subscribers; contents and filing of articles; other required filings; fee for investigation; selection of initial directors. (f) The subscriber shall pay such fee as shall be established by regulation of the department to defray the cost of the investigation required by Code Section 7-1-632, provided that the Rev 7-1-2009 4 department shall not be required to set such fee if in its judgment the fee would discourage the organization of credit unions under this article. 7-1-634. Amendment of articles and bylaws; fee for investigation; approval or denial by department. (b) Every proposed amendment of the articles shall be filed in triplicate with the department together with the fee specified in Code Section 7-1-862. Proposed amendments of the bylaws shall be filed with the department. (2) The credit union must pay such fee as may be established by the department to defray the cost of investigation. 7-1-651. Membership; shares. (a) The membership of the credit union shall consist of the initial subscribers and such other persons within the field of membership as may have subscribed to one share and have paid for same together with the required entrance fee and complied with all other requirements contained in the bylaws. No subscriber or other member shall hold more than one share out of any class of shares. The bylaws may provide for separate classes of shares for borrowers and depositors and for the par value of each share for each class but in no event shall the par value be less than $1.00. 7-1-659. Entrance fees; reserves; exclusion of state and federal credit union reserves from tax calculations. (a) A credit union may charge entrance fees as provided in the bylaws. All such fees shall, after payment of organizational expense, be known as reserve income and shall be added to the regular reserve of the credit union.

Idaho: Rule: 060.PROHIBITED FEES, COMMISSIONS, COMPENSATION (RULE 60). 01. Scope of Rule. This rule establishes guidelines that prohibit certain commissions, fees, or other compensation from being charged on any credit union loan or line of credit. (7-1-93) 02. Purpose of Rule. This rule is adopted by the Director for the purpose of setting guidelines to IDAHO ADMINISTRATIVE CODE IDAPA 12.01.04 Department of Finance Rules Pursuant to the Idaho Credit Union Act Page 9 IAC 2010 ensure that commissions, fees, or other compensation is not charged and received by certain persons, and thus promote fair, safe, and sound lending practices for credit unions. (7-1-93) 03. Prohibited Fees. A credit union shall not make any loan or extend any line of credit if, either directly or indirectly, any commission, fee, or other compensation is to be received by the credit union’s directors, committee members, senior management employees, loan officers, or any immediate family members of such individuals, in connection with underwriting, insuring, servicing, or collecting the loan or line of credit. However, salary for employees is not prohibited by this section. “Senior management employees” refers to those employees described in Subsection 040.05 of these rules. “Immediate family member” means a spouse, or other family members, related by blood or operation of law, living in the same household. (7-1-93)


26-2108.CORPORATE POWERS. A credit union shall have power to: (e) May require the payment of an entrance or membership fee, not to exceed one dollar ($1.00), of any applicant

admitted to membership. (n) Fine members for failure to meet punctually obligations to such credit union. 26-2134.APPLICATION FEES. For the purpose of paying the costs incident to the ascertainment of whether articles of incorporation should be issued, the subscribers to any such articles of incorporation shall pay, at the time of filing their articles of incorporation with the director, a fee as fixed by the director, but not to exceed twenty-five dollars ($25.00), for the purpose of paying costs incident to the investigation of the application. All such fees shall be deposited with the state treasurer for the credit in the finance administrative account in the state dedicated fund. 26-2136.EXAMINATIONS AND FEES. The department of finance shall examine each credit union no less often than once in eighteen (18) months, and more frequently whenever the director shall deem it necessary. Each credit union and all of its officers and agents shall be required to give to representatives of said department full access to all books, papers, securities, records and other sources of information under their control; and for the purpose of such examination, said representatives shall have power to subpoena witnesses, administer oaths, compel the giving of testimony, and require the submission of documents.

A report of such examination shall be forwarded to the president of each credit union within thirty (30) days after the completion of the examination. Within thirty (30) days after the receipt of such report, a general meeting of the directors and committeemen shall be called to consider matters contained in the report. A reply to the director shall be forwarded by the board within fifteen (15) days.

On or before February 15 of each calendar year, the director shall fix and collect from each credit union an assessment fee based upon the total assets of the credit union as of December 31 of the previous calendar year, which fees shall not exceed the amounts set forth in the following schedule:

TOTAL ASSETS FEE $50,000 or less ................... $50.00 + $1.00 per thousand dollars of assets

Over $50,000 and not over

$100,000 ........................ $100.00 + $.99 per thousand dollars of assets in excess of $50,000


$250,000 ........................ $149.00 + $.94 per thousand dollars of assets in excess of $100,000


$1 million ...................... $291.00 + $.89 per thousand dollars of assets in excess of $250,000

Over $1 million and not over

$2 million ...................... $958.00 + $.80 per thousand dollars of assets in excess of $1 million


$5 million ...................... $1,758.00 + $.61 per thousand dollars of assets in excess of $2 million


$8 million ...................... $3,588.00 + $.48 per thousand dollars of assets in excess of $5 million Over $8 million ................... $5,028.00 + $.35 per thousand dollars


of assets in excess of $8 million The director may in his discretion at any time accept in lieu of any portion of his examinations the findings or result of an

audit by a firm of independent certified public accountants or other qualified person or firm approved by the director. The cost of the audit shall be borne by the credit union.

All fees, fines, examination and miscellaneous charges collected by the director pursuant to the Idaho credit union act shall be deposited into the finance administrative account pursuant to section 67-2702, Idaho Code. 26-2152.INTERSTATE CREDIT UNIONS -- APPROVAL -- PERMIT -- FEES -- SUPERVISION. (1) Provided that the membership limits as defined in section 26-2110, Idaho Code, are maintained: (a) A credit union chartered under this chapter may operate in another state unless prohibited by the law of the other state. Idaho is the home state for any credit union chartered under this chapter. (b) A credit union chartered under the laws of another state may operate in Idaho with the approval of the director on the terms and conditions provided in subsection (2) of this section. Idaho is the host state for any credit union chartered under the laws of any other state. The state which charters the credit union is the home state of the credit union.

(2) The director may issue a permit to a credit union chartered in another state to operate in this state in a manner consistent with the Idaho credit union act, provided that the credit union applies for such permit on a form approved by the director and has approval from the regulator of credit unions in its home state to operate in Idaho. A credit union for which Idaho is a host state shall acknowledge that Idaho laws relating to consumer protection apply to transactions with residents in Idaho. The credit union for which Idaho is a host state shall maintain its books and records in Idaho or in such other place as the director may agree in writing. The director may, pursuant to chapter 52, title 67, Idaho Code, suspend or revoke the permit of any credit union for which Idaho is the host state for any violation of the Idaho credit union act.

(3) The director shall assess fees as provided in section 26-2136, Idaho Code, to be paid by a credit union for which Idaho is the host state on the basis of the assets of the credit union which are derived from its operations in Idaho. The director, in his discretion, may adjust such fees according to the level of participation of the department in the supervision of the credit union.

(4) The director may enter into agreements with private share insurers and credit union regulators both with the federal government and in other states, to coordinate and facilitate regulation and supervision of interstate credit unions as permitted by section 26-2610, Idaho Code.

Illinois: (205 ILCS 305/13) (from Ch. 17, par. 4414) Sec. 13. General powers. A credit union may: 3) At the discretion of the Board of Directors, require the payment of an entrance fee or annual membership fee, or both, of any person admitted to membership; (12) Assess charges and fees to members in accordance with board resolution;

(15) Collect, receive and disburse monies in connection with providing negotiable checks, money orders and other money‑type instruments, and for such other purposes as may provide benefit or convenience to its members, and charge a reasonable fee for such services; (19) Subject to Article XLIV of the Illinois Insurance Code, act as the agent for any fire, life, or other insurance company authorized by the State of Illinois, by soliciting and selling insurance and collecting premiums on policies issued by such company; and may receive for services so rendered such fees or commissions as may be agreed upon between the said credit union and the insurance company for which it may act as agent; provided, however, that no such credit union shall in any case assume or guarantee the payment of any premium on insurance policies issued through its agency by its principal; and provided further, that the credit union shall not guarantee the truth of any statement made by an assured in filing his application for insurance; and (205 ILCS 305/42.5) Sec. 42.5. Marketing of services. For purposes of promoting its services to persons eligible for membership, a credit union may sell to persons within its field of membership negotiable checks, including travelers checks, money orders, and similar money transfer instruments (including international and domestic electronic fund transfers) and may cash checks and money orders, and may receive international and domestic electronic fund transfers for such persons for a fee. (Source: P.A. 96-141, eff. 8-7-09.) (205 ILCS 305/68) (from Ch. 17, par. 4469) Sec. 68. Interest, Fines, Not Usurious-Shares and Loans Not to be Taxed. Reasonable fines may be levied as provided in the Bylaws of each credit union and may be deducted from the share balance or added to the loan balance of a member upon whom a fine is levied. Interest or fines that may accrue to a credit union are not usurious and they may be collected under the law of this State. The shares and loans provided for in this Act are not subject to taxation. (Source: P.A. 81-329.)

http://legislature.idaho.gov/idstat/Title67/T67CH27SECT67-2702.htm


http://legislature.idaho.gov/idstat/Title67/T67CH52.htm




Indiana: IC 28-7-1-12 Examinations of credit unions and affiliates; recognition of CPA audit; examination of vendors Sec. 12. (a) Every credit union and every affiliate of a credit union shall be subject to examination by the department. A credit union shall be examined by the department as often as the department shall deem necessary. The department shall at all times be given free access to all of the books, papers, securities, and other sources of information, including audit reports and audit working papers for any such credit union. The director, the members of the department, and the supervisor in charge of the division shall have the power to subpoena documents and examine witnesses under oath pertaining to the business of the credit union. The department may accept an audit by a certified public accountant and govern its examination procedures and examination fees accordingly. At the close of each examination, a conference shall be conducted to disclose to the board of directors the findings of the examination. (b) If a credit union contracts with an outside vendor to provide a service that would otherwise be undertaken internally by the credit union and be subject to the department's routine examination procedures, the person that provides the service to the credit union shall, at the request of the director, submit to an examination by the department. If the director determines that an examination under this subsection is necessary or desirable, the examination may be made at the expense of the person to be examined. If the person to be examined under this subsection refuses to permit the examination to be made, the director may order any credit union that receives services from the person refusing the examination to: (1) discontinue receiving one (1) or more services from the person; or (2) otherwise cease conducting business with the person. (Formerly: Acts 1961, c.182, s.12.) As amended by P.L.263-1995, SEC.10; P.L.35-2010, SEC.153.

Iowa: 533.112 Annual fees — examination fees— delinquencies. 1. Each state credit union shall pay an annual fee as determined by the superintendent based on the actual cost of operating the credit union division. The superintendent shall consider recommendations from the review board and from state credit unions in determining the amount of the annual fee. 2. Each state credit union, corporation, credit union service organization, or other person subject to an examination pursuant to section 533.113 shall pay an examination fee. The superintendent shall establish by rule an examination fee schedule. 3. a. Failure of a state credit union, corporation, credit union service organization, or other person to pay a fee pursuant to subsection 1 or 2 shall result in the fee being considered delinquent and a penalty equal to five percent of the original fee may be assessed for each day or part of a day the payment remains delinquent. b. A fee delinquency under this subsection by a corporation, credit union service organization, or other person may result in the superintendent collecting the delinquent fee and penalty from the state credit union owning shares or investments or having business transactions or a relationship with such corporation, credit union service organization, or other person. c. A fee delinquency under this subsection may also constitute grounds for revocation of the certificate of approval of the credit union to operate in this state. 533.301 Powers. 22. Charge fees and penalties and apply them to income. 533.302 Capital. 1. The capital of a credit union shall consist of the payments that have been made to it by the several members thereof on shares. A credit union may charge an entrance fee as may be provided by the bylaws. 533.313 Share drafts. 4. A state credit union may charge fees and penalties on share drafts and apply fees and penalties to the state credit union’s income in relation to share draft services.

Kentucky:


286.6-100 Supervision by commissioner -- Financial reports -- Examination -- Fees. (1) Credit unions shall be under the supervision of the commissioner and shall make financial reports to the commissioner as and when he or she may require, but at least annually. Each credit union shall be subject to examination by, and for this purpose shall make its books and records accessible to, any person designated by the commissioner. The commissioner shall fix a scale of examination fees to be paid by credit unions, giving due consideration to the time and expense incident to such examinations and to the ability of credit unions to pay such fees, which fees shall be assessed and paid by each credit union promptly after completion of such examination. 286.6-565 Money transfers for convenience of members. A credit union may collect, receive and disburse moneys in connection with the providing of negotiable checks, money orders, travelers' checks, and other money-type instruments, and for such other purposes as may provide benefit or convenience to its members, and charge a reasonable fee for such services. 286.6-445 Charges for failure to meet obligations. A credit union may assess charges to members, in accordance with the bylaws, for failure to meet their obligations to the credit union in a timely manner.

Louisiana: §646. Supervision by commissioner; suspension or revocation of charter; liquidation; reports; examination fees

A.(1)(a) Credit unions are under the supervision of the commissioner. The commissioner may prescribe rules and

regulations for the administration of this Chapter and for the administration of a state share insurance corporation, including but not

by way of limitation the merger, consolidation, or dissolution of corporations organized under this Chapter.

(b) Any central or corporate credit union chartered under this Chapter shall be subject to such rules, regulations, and

orders as the commissioner deems appropriate and, except as otherwise specifically provided in such rules, regulations, or orders,

shall be vested with or subject to the same rights, privileges, duties and restrictions, penalties, liabilities, conditions, and limitations

that would apply to all credit unions organized under this Chapter. The commissioner may approve bylaws that he deems

appropriate to a corporate or central credit union.

(2)(a) The Commissioner shall approve the merger or consolidation of credit unions organized under this Chapter or

converted from federal credit unions to a credit union under this Chapter if in conformity with this Chapter, and if satisfied that the

proposed field of membership for the merging or consolidating credit unions is favorable to the success of the proposed merger or

consolidation. The commissioner shall thereupon issue to the proposed merging or consolidating credit unions a certificate of

approval.

(b) The commissioner in granting approval to mergers, consolidations, or expansion of the field of membership shall give

consideration to the following: locale of domicile, access to credit union facilities, and whether the proposed merger, consolidation,

or expansion of the field of membership is favorable to the success of the credit union.

(3) Repealed by Acts 2003, No. 362, §2, eff. June 18, 2003.

(4)(a) Mergers must be approved by an affirmative vote of a majority of the members of the merging credit union who vote

on the proposal and by the board of directors of the continuing credit union. Such membership vote on the merger may be

conducted by mail balloting.

(b) Written notice of any annual or special meeting of the members of the merging credit union shall be sent to each

member at the address reflected in the credit union's records at least ten days prior to such meeting.

(5) Notwithstanding the provisions of Paragraphs (2) and (3) of this Subsection, the commissioner may approve a merger or

consolidation of credit unions without membership approval when the merging credit union is insolvent, or in danger of insolvency,

as determined by the commissioner.

B.(1) The commissioner may suspend or revoke the charter of any credit union under his supervision, or place the same in

involuntary liquidation and appoint a liquidating agent therefor, upon his finding that the organization is bankrupt or insolvent or

has violated any provisions of its charter, its bylaws, or of this Chapter, or of any regulations issued thereunder.

(2) Each credit union shall file quarterly financial reports with the commissioner in a manner and form prescribed by the

commissioner. Any credit union failing to file such financial reports postmarked by the required due dates may be fined not more

than fifty dollars for each day the report remains unfiled.


(3) Each credit union shall be subject to examination by the commissioner or his authorized deputy on a recurring schedule

consonant with the resources of the office and in accordance with good examination practice. The commissioner may order other

examinations as necessary, and shall at all times be given free access to all the books, papers, securities, and other sources of

information with respect to the credit union. For that purpose he may, personally or through his duly authorized deputies,

subpoena and examine witnesses under oath about documents pertaining to the business of credit unions.

(4) Repealed by Acts 1993, No. 278, §1, eff. Jan. 1, 1994.

(5) The commissioner may, by rule, establish a fee schedule for the examination of a corporate credit union.

C. If a credit union neglects for fifteen days to make the required reports or to pay the charges required, including penalties

for delay in filing reports, the commissioner shall notify the credit union of his intention to revoke the certificate of approval. If the

neglect or failure continues for another fifteen days or if the credit union violates any of the provisions of this Chapter, the

commissioner may revoke the certificate of approval and personally or through one of his deputies, shall take possession of the

business of the credit union and retain possession until such time as he may permit it to resume business or until its affairs are

finally liquidated.

D. If it appears to the commissioner that a credit union has violated any of the provisions of this Chapter, he may by an

order made over his hand and official seal after a hearing or an opportunity for hearing has been given the credit union, direct the

credit union to discontinue its illegal methods and practices. If a credit union is insolvent or has within a reasonable time failed to

comply with any order mailed to the last address filed by the credit union with the commissioner, he shall immediately or within a

reasonable time thereafter take possession of the business and property of the credit union and retain possession until such time as

he may permit it to resume business or until its affairs are finally liquidated.

E. The commissioner shall prescribe rules and regulations specifying the period of time a credit union must retain its

records and permitting a credit union to destroy records after the time required by such regulations has expired.

§645. Membership

A. The membership shall consist of the incorporators and such natural persons as have been duly elected to membership and have

subscribed to one or more shares and have paid for the same in whole or in part with the entrance fee as required by the charter

and by-laws and have complied with such other requirements as the act of incorporation may contain. Other organizations,

incorporated or not, composed primarily of the same individuals who are eligible to membership in the credit union are also eligible

to membership. §654. Rates of interest A. Notwithstanding any other provision of the law to the contrary, a credit union may lend to its members at such maximum fixed rates or maximum variable rates of interest, as provided for in the bylaws of the credit union, which have been approved by the commissioner of financial institutions. An endorser, guarantor, or co-maker shall be subject to the same interest charge as a member of the credit union. B. Notwithstanding any other provision of the law to the contrary, with respect to a loan to a member pursuant to an open-end credit, revolving credit, or line of credit loan account, a credit union may contract to receive and collect a finance charge, which may be such maximum fixed rates or maximum variable rates of interest in any amount, as provided for in the credit union bylaws, which have been approved by the commissioner of financial institutions. The finance charge may be added to the loan balance on the monthly due date or monthly billing date or the proportionate part due may be added when a new advance is made. C. Notwithstanding any other provision of the law to the contrary, a credit union may provide in the bylaws for fees and costs incidental to the making of loans and for late charges, which have been approved by the commissioner of financial institutions.

Kansas: 17-2201. Organization of credit unions; articles of incorporation and bylaws; approval of administrator; application of corporation code; filing fees. (a) Any seven persons, residents of the state of Kansas, may apply to the administrator of the credit union department for permission to organize a credit union by signing in duplicate a certificate of organization and entering into articles of


incorporation, in which they shall bind themselves to comply with its requirements and with all the laws, rules and regulations applicable to credit unions. The articles of incorporation shall set forth: (1) The name of the proposed credit union which shall contain the words "credit union" and shall not be the same as that of any other credit union in this state. (2) The names and addresses of the subscribers to the articles of incorporation, and the number of shares subscribed by each. (3) A statement that organization as a credit union is desired under this particular law, the par value of the shares and the manner in which the par value of shares may be changed from time to time. (4) The address, which shall include the street, number, city and county of the corporation's registered office in this state and the name of its resident agent at such address. (b) At the time of filing the articles of incorporation with the administrator, the organizers shall submit, in duplicate, sets of bylaws which shall provide: (1) The date of the first annual meeting, the manner in which subsequent annual meeting dates shall be determined, the manner of notification of meetings and conducting the meetings, the number of members constituting a quorum and regulations as to voting. (2) The number of directors, which shall not be less than five, all of whom must be members, their powers and duties, together with the duties of officers elected by the board of directors. (3) The qualifications for membership. (4) The number of members of the credit committee and of the supervisory committee, which shall not be less than three each, together with their respective powers and duties. (5) The conditions under which shares may be issued. (c) The administrator shall approve the articles of incorporation if they are in conformity with this act and the bylaws, if satisfied that the proposed field of operation is favorable to the success of such credit union, and that the standing of the proposed organizers is such as to give assurance that its affairs will be properly administered. If the administrator approves the articles of incorporation, the administrator shall issue to the proposed organizers a certificate of approval annexed to the duplicate of the articles of incorporation and of the bylaws. The articles of incorporation, with the certificate of approval annexed, shall be executed and filed and become effective in the manner prescribed in the general corporation code. The copy of the articles of incorporation filed with the secretary of state shall be accompanied by the fee prescribed by K.S.A. 17-7502 and amendments thereto. The articles of incorporation of any credit union approved as provided in this section by the secretary of state in the same manner as other domestic corporations are approved whether or not acted upon by the charter board.

Maryland: § 6-807. State branches.

(a) Authorized.- A credit union may establish a branch in the State in accordance with the provisions of this section.

(b) Requirements.-

(1) A credit union that proposes to establish a branch in the State shall:

(i) File with the Commissioner, at least 30 days before the intended opening date, a notice of intention to open a branch;

(ii) Submit to the Commissioner any information the Commissioner requires in order to evaluate the proposed branch; and


(iii) Pay to the Commissioner a branch fee of $100.

(2) The branch fee may not apply to a branch that is acquired by a credit union through a merger or consolidation with, or transfer to the credit union of all or substantially all of the assets of, a credit union.

(c) Approval.- In deciding whether to approve the establishment of a branch, the Commissioner shall consider whether:

(1) The establishment of the branch will promote the convenience of the members of the credit union;

(2) The applicant has sufficient net worth to support the branch; and

(3) The applicant generally is operating in compliance with the provisions of this title.

(d) (1) The Commissioner shall decide whether to approve the establishment of a branch within 30 days of receipt of the notice specified in subsection (b) (1) of this section.

(2) The establishment of a branch shall be deemed approved if the Commissioner takes no action on the notice within the time limit specified in this subsection.

§ 6-328. Same - Duties.

(a) Additional duties.- In addition to any power or duty provided for by law, the board shall:

(15) Determine the amount, if any, that may be assessed for late fees or other charges;

Michigan: 490.361 Capital; share payments; entrance fee; secondary capital; liability of member for acts, debts, or obligations of domestic credit union; placement of lien on member account. Sec. 361.

(1) The capital of a domestic credit union consists of the payments that have been made to it by the members for shares. If authorized by the bylaws, a domestic credit union may charge an entrance fee.

490.401 Domestic credit union; powers. Sec. 401. (1) A domestic credit union has the powers described in this section, specified or implied by this act, and specified in any other law of this state. (2) A domestic credit union has all of the following powers: (h) To charge fees in connection with shares, savings, extensions of credit, and other services by contract or agreement. 490.412 Check cashing fees. Sec. 412. (1) Except as provided in subsection (2), a domestic credit union shall not contract for, receive, impose, assess, or collect a charge or fee for the cashing of a check that exceeds 1 of the following percentages of the face amount of the check, as applicable: (a) Five percent for a payroll, pension, or government check. (b) Seven percent for a check from an insurance company, including, but not limited to, a private health or disability insurance plan payment.


(c) Ten percent for a personal check, money order, or other check. (2) A domestic credit union may contract for, receive, impose, assess, or collect a charge or fee that does not exceed $25.00 for the first check the credit union cashes for an individual.

Maine: §827. Accounts 1. Receipt of savings. Except as provided in subsection 4, a credit union may receive savings of its members in payment for shares, Christmas clubs, special purpose clubs, tax clubs, deposit accounts and the like. [ 1997, c. 108, §8 (AMD) .] 2. Receipt of payments from government agencies and other credit unions. A credit union may act as fiscal agent for and receive payments on shares and deposits from the Federal Government, this State or any agency or political subdivision or another federally insured credit union. [ 2001, c. 211, §18 (AMD) .] 3. Lien on shares. A credit union may impress and enforce a lien on the shares and dividends of a member to the extent of any loan made to and any dues or charges payable by that member. A credit union that has been designated a community development credit union pursuant to section 817 may impress and enforce a lien on the shares and dividends of a nonmember to the extent of any loan made to and any dues or charges payable by that nonmember. [ 2003, c. 322, §18 (AMD) .] 4. Nonmember shares and deposit accounts. A community development credit union designated by the superintendent as a community development credit union under section 817 may receive payments and savings from nonmembers representing shares of a type approved by the National Credit Union Administration and deposit accounts of a type approved by the superintendent. [ 1997, c. 108, §9 (NEW) .] SECTION HISTORY 1975, c. 500, §1 (NEW). 1983, c. 51, §2 (RPR). 1995, c. 512, §1 (AMD). 1997, c. 108, §8 (AMD). 1997, c. 108, §9 (AMD). 2001, c. 211, §18 (AMD). 2003, c. 322, §18 (AMD). §877. Fees for mergers, conversions and acquisitions An application made pursuant to sections 872, 872-A, 873, 875 or 876 may not be considered complete unless accompanied by an application fee payable to the Treasurer of State to be credited and used as provided in section 214. The superintendent shall establish the amount of the application fee, which may not exceed $2,000. [1999, c. 218, §26 (AMD).]

Massachusetts: Decision of February 25, 2010

By the Division of Banks

DECISION ESTABLISHING CERTAIN MAXIMUM DISHONORED CHECK FEES AT MASSACHUSETTS STATE-CHARTERED INSTITUTIONS

FEBRUARY 25, 2010

This decision establishes the maximum allowable fee Massachusetts state-chartered banks and credit unions may assess certain consumer deposit

accounts for processing dishonored checks, otherwise referred to as deposit return items (DRI), under Massachusetts General Laws chapter 167D,

section 3 and Massachusetts General Laws chapter 171, section 41A.1 The maximum fee set by this decision shall remain in effect until, or shortly

after March 31, 2011.

2010 DRI Determination

The 2010 dishonored check or DRI fee is based upon deposit return item cost data independently obtained from a sample of state-chartered banks

and credit unions. The Division of Banks (Division) collected these data during the course of its regularly scheduled financial safety and soundness

examinations under G. L. c.167, s.2. The sample of institutions reasonably reflects industry differences in asset size, charter type, geographical

location and DRI processing procedures. The Division used three years of DRI cost data to determine the maximum allowable fee under Chapter

178 of the Acts of 1997. The data collected from the Division’s examination sampling process is summarized below.

http://www.mass.gov/dob


A total of 68 institutions were surveyed. This sample included 40 banks and 28 credit unions2. The cost of processing deposit returned items ranged

from $0.72 to $19.13 per item. Banks generally had a lower average cost than credit unions. The average cost to process a deposit return item was

$5.46 for banks and credit unions combined. Banks had an average cost of $5.12 and credit unions had an average cost of $7.71. The time for

processing a DRI ranged from 3 to 31 minutes and the median cost of all institutions was $5.15 per item.

Conclusion

The maximum allowable fee Massachusetts state-chartered banks and credit unions may assess certain consumer deposit accounts for processing

dishonored checks or DRI items under Massachusetts General Laws chapter 167D, section 3 and Massachusetts General Laws chapter 171, section

41A, respectively, shall be $5.15. The existing fee shall remain in effect until March 31, 2010 or such later time as individual institutions have

complied with the increased fee notice provisions required under the State and federal truth in savings laws. This fee determination shall be in

effect from March 31, 2010 to March 31, 2011 or until such time as the Division issues its 2011 DRI fee decision.

State-chartered institutions are advised that the above DRI fee is the maximum fee permitted by law. Institutions, however, may elect to impose a

lower DRI fee or to waive the fee for their customers.

February 25, 2010

Date

Steven L. Antonakes

Commissioner of Banks

1These statutes govern the consumer deposit accounts of state-chartered banks and credit unions, respectively. The provisions are substantially

identical. The statutes provide in pertinent part: “... no bank *or credit union+ shall assess any fee, charge or other assessment against any account,

established for personal, family or household purposes, of a depositor, who as the payee of a check, draft or money order, of which the payee is

not also the maker, deposits the same therein and payment on any such instrument is refused by the depository institution upon which it is drawn

because of insufficient funds or because the maker thereof did not have an account at such depository institution; provided, further, that a bank

[or credit union] may assess a reasonable fee, charge or assessment that represents its direct costs, as established annually by the commissioner of

banks, incurred for processing such, draft or money order.” (Emphasis supplied.)

2 The list of institutions surveyed includes 14 cooperative banks, 20 savings banks, 6 commercial banks and 28 credit unions. Asset sizes of all the

institutions surveyed ranged from $7 million to $7 billion. The total assets of all the institutions were $36 billion. The survey was conducted during

regular safety and soundness examinations conducted in 2007, 2008, and 2009. Institutions selected were done so solely on the basis of

examination scheduling. As a result, the components of the sample are randomly derived and are not necessarily a representative sample of all

institutions. The examiners independently collected the information after discussing the particular institution’s DRI practices and procedures with

affected institution personnel. All collected data was reviewed for reasonableness.)

Regulatory Bulletin 4.1-101 Loans & Fees to Directors and Senior Management Employees

I. APPLICABILITY AND SCOPE

The purpose of this bulletin is to further implement the loan and reporting provisions of G.L. c. 171, ss. 20 and 26. It is also

designed to prohibit certain transactions with credit union insiders which may promote conflicts of interest that impose a

significant threat to the safety and soundness of individual credit unions. The terms and conditions of this bulletin apply to any


extension of credit or fees paid to the directors and certain officers of a credit union and their related interests. (See RB2.1-102,

Insider Transactions, for additional guidelines.)

II. DEFINITIONS

The following terms shall have the following meanings unless the context otherwise requires:

Director: Any member of the board of directors, credit committee or auditing committee.

Immediate Family Member: A parent, stepparent, spouse, child, stepchild or any other relative living within the same

household.

Related Interests: Any individual having a common ownership, investment or other pecuniary interest in a business enterprise

with an official or a senior management employee or with an immediate family member of an official or a senior management

employee. The term shall also include immediate family members.

Senior Management Employees: The president, treasurer, vice presidents and such other officers established under G.L. c. 171,

s. 15. For the purpose of this bulletin, the term senior management shall also include members of their immediate families.

III. POLICY

A. Prohibited Fees

A credit union shall not make any loan or extend any line of credit if, either directly or indirectly, any commission, fee or

other compensation is to be received by the credit union's officials, senior management employees, loan officers, or any

immediate family members of such individuals, in connection with underwriting, insuring, servicing, or collecting the loan or

line of credit. However, salary for employees is not prohibited by this section.

B. Extensions of Credit to Directors and Senior Management Employees

This section establishes procedures and other requirements for implementing the provisions of G.L. c. 171 ss. 20 and 26.

1. Initial approval.

All applications for loans or lines of credit on which an director or a senior management employee will be either a direct

obligor or an endorser, cosigner or guarantor shall be initially acted upon by either the board of directors, the credit

committee or loan officer, as specified in the credit union's by-laws.

2. Board of Directors' Review.

The board of directors shall, in any case, review and approve or deny any application on which an director or a senior

management employee is a direct obligor, or endorser, cosigner or guarantor. Approval of a loan to a director shall

require a two-thirds vote of the other directors in accordance with G.L. c. 171 s. 20.

3. Non-preferential treatment.


The rates, terms and conditions on any loan or line of credit either made to, or endorsed or guaranteed by: (a) an director

or a senior management employee; (a) an immediate family member of an director or a senior management employee;

or (c) any related interests of such director or senior management employee, shall not be more favorable than the rates,

terms and conditions for comparable loans or lines of credit to all other credit union members.

IV. HISTORICAL NOTES

This bulletin replaces Administrative Bulletin 9-1A, which was issued on September 18, 1991.

V. AUTHORITY

G.L. c. 167, s. 2; and G.L. c.171, ss. 20 and 26.

Mississippi:

SEC. 81-13-39. Authority to lend or invest funds; interest rates.

A credit union may lend to its members at reasonable rates of interest, which shall not exceed one and three-fourths percent (1-3/4%) per month, computed on unpaid balances, or invest the funds accumulated as herein provided. Fines and penalties shall not be considered as interest. A charge of Ten Dollars ($10.00) in lieu of interest may be made on any loan payable in a single payment, and a charge of Fifteen Dollars ($15.00) in lieu of interest may be made on any loan payable in installments.

1997 Amendment

Reenacted.

SOURCE: 1997 Laws, Chapter 368, Sec. 21, HB561, Effective Jluly 1, 1997

§ 81-13-62. Electronic banking terminals.

(3) For the use of its electronic terminals connected to sharing networks or systems, a credit union may impose a fee if imposition of the fee is disclosed at a time and in a manner that allows a user to terminate or cancel the transaction without incurring the transaction fee. Such fee shall not exceed Two Dollars ($2.00) or four percent (4%) of the gross amount of the transaction, whichever is greater. An agreement to share electronic terminals shall not prohibit, limit or restrict the right of a credit union to charge such fees for the use of its electronic terminals as allowed by state or federal law, or require a credit union to limit or waive its rights or obligations under this section.

Missouri: Approval by director, certificate, provisional issuance, fee, examination.

370.040. 1. The director may approve the certificate of organization, if it is in conformity with this chapter and the bylaws, if satisfied that the proposed field of operation is favorable to the success of such credit union and that the standing of the proposed organizers is such as to give assurance that its affairs will be properly administered.

2. He shall thereupon issue to the proposed organizers a certificate of approval in triplicate, annexed respectively to the triplicates of the certificate of organization and of the bylaws. He shall retain one copy, send the second copy to the credit union, and the third copy, together with attachments, shall be filed with secretary of state.


3. Thereupon the organizers shall become and be created a corporation under the name used in the certificate of organization.

4. At the time of the issuance of the certificate, an organization fee of five dollars shall be paid to the director of revenue.

5. A certificate of organization so issued shall be provisional, and an examination will be conducted of the credit union after six months, at division expense, and after one year of operation, to determine that the credit union is a viable entity meeting minimum standards as set by the director. If it is found that the credit union has not made satisfactory progress in meeting minimum standards, the director may revoke the charter, dissolve the credit union, or merge it with another credit union as provided in this chapter.

Additional powers of a credit union--membership fee allowed, when.

370.071. A credit union may have the following additional powers:

(1) To contract for group insurance plans, approved by the state of Missouri, on behalf of members electing to participate in such insurance programs and to charge a fee for providing such services;

(2) To exercise such additional powers, with the approval of the director, as federally chartered credit unions may be authorized under federal statutes; however, this section shall not apply to field of membership provisions within this chapter;

(3) To hold membership in central credit unions whose field of membership includes credit unions, and to invest funds in shares of corporations to aid the liquidity of credit unions;

(4) To act as the fiscal or transfer agent of the United States, of any state, municipality, or political subdivision and in such capacity to receive and disburse money, to transfer, register and countersign certificates of stock, bonds and other evidences of indebtedness;

(5) Notwithstanding any other law to the contrary, a credit union may charge initial and/or recurring membership fees, provided such fees have been approved by a majority of the membership in attendance at any regular or special meeting or by a mail ballot as provided in the credit union bylaws, after notice of the purpose thereof shall have been mailed at least seven days and no longer than sixty days prior to the date of such meeting. Such membership fees shall not be construed as reserve income but shall be used at the sole discretion of the board of directors for the benefit of the credit union.

(L. 1977 H.B. 48, A.L. 1978 S.B. 746, A.L. 1986 H.B. 1193, A.L. 1991 H.B. 180, A.L. 2007 S.B. 591) Fee or service charge authorized.

370.073. A credit union may impose fees or service charges on deposit accounts or similar accounts; however, such fees or service charges are subject to such conditions or requirements that may be fixed by regulations pursuant to this chapter by the director of credit union supervision and the credit union commission. Notwithstanding any law to the contrary, no such condition or requirement shall be more restrictive than the fees or service charges on deposit accounts or similar accounts permitted any federally chartered depository institution.

(L. 2003 H.B. 221 § 370.171 merged with S.B. 346 § 370.171) Annual fee--how computed--division of credit unions fund, created, uses--salary schedule of division employees to be maintained.

370.107. 1. Every credit union organized pursuant to section 370.010 and operating pursuant to the laws of this state shall pay to the department of revenue a fee determined by the director based on the total assets of the credit union as of December thirty-first of the preceding fiscal year. One-half of the fee shall be paid on or before July fifteenth, and the balance shall be paid on or before January fifteenth of the next succeeding year. The maximum fee shall be calculated according to the following table:

Total Assets Fee Under $2,000,000 . . . . . . . . . . . . . . . . . . . $0.125 per $1,000

of assets up to a


maximum of $250 $2,000,000 or more but less than $5,000,000 . . . . . . . . . . . . . . . .$250, plus $1 per

$1,000 of assets in

excess of $2,000,000

$5,000,000 or more but less than $10,000,000 . . . . . . . . . . . . . $3,250, plus $0.35 per

$1,000 of assets in

excess of $5,000,000 $10,000,000 or more but less than $25,000,000 . . . . . . . . . . . . $5,000, plus $0.20 per

$1,000 of assets in

excess of $10,000,000 $25,000,000 or more . . . . . . . . . . . . . . . . $8,000, plus $0.15 per

$1,000 of assets in

excess of $25,000,000.

The shares of one credit union which are owned by another credit union shall be excluded from the assets of the first credit union for the purpose of computing the supervisory fee levied pursuant to this section. All fees assessed shall be accounted for as prepaid expenses on the books of the credit union.

2. The state treasurer shall credit such payments, including all fees and charges made pursuant to this chapter to a special fund to be known as the "Division of Credit Unions Fund", which is hereby created and which shall be devoted solely and exclusively to the payment of expenditures actually incurred by the division and attributable to the regulation of credit unions. Any amount remaining in such fund at the end of any fiscal year and any earnings attributed to such fund shall not be transferred and placed to the credit of the general revenue fund as provided in section 33.080, RSMo, but shall be used, upon appropriation by the general assembly, for the payment of such expenditures of the division in the succeeding fiscal year and shall be applied by the division to the reduction of the amount to be assessed to credit unions in such succeeding fiscal year. In the event two or more credit unions are merged or consolidated, such excess amounts shall be credited to the surviving or new credit union.

3. The expense of every regular and every special examination, together with the expenses of administering the laws pertaining to credit unions, including salaries, travel expenses, supplies and equipment, credit union commission expenses of administrative and clerical assistance, legal costs and any other reasonable expense in the performance of its duties, and an amount not to exceed fifteen percent of the above-estimated expenses to pay the actual costs of rent, utilities, other occupancy expenses and other supporting services furnished by any department, division or executive office of this state and an amount sufficient to cover the cost of fringe benefits shall be paid by the credit unions of this state by the payment of fees yielded by this section.

4. The director of the division of credit unions shall prepare and maintain an equitable salary schedule for examiners, professional staff, and support personnel that are employees of the division. Personnel employed by the division shall be compensated according to the following schedule, provided that such expense of administering the credit union laws is assessed and paid in accordance with this section. The positions and classification plan for such personnel attributed to the examination of the state credit unions shall allow for a comparison of such positions with similar examiner positions at federal credit union regulatory agencies. State credit union examiner positions shall not be compensated at more than ninety percent parity for corresponding federal positions for similar geographic locations in the state as determined by the director of the division of credit unions.

(L. 1959 S.B. 127 § 370.109, A.L. 1967 p. 509, A.L. 1972 S.B. 502, A.L. 1977 H.B. 48, A.L. 1978 S.B. 746, A.L. 1979 S.B. 24, A.L. 1982 H.B. 1099, A.L. 1985 H.B. 469, A.L. 1991 H.B. 516, A.L. 1992 H.B. H.B. 1596, A.L. 1999 S.B. 386, A.L. 2005 H.B. 379)

*This section was amended by both H.B. 379 and S.B. 318 during the First Regular Session of the 93rd General Assembly, 2005. Due to possible conflict, both versions are printed here.

Annual fee--how computed--division of credit unions fund, created, uses--equitable salary schedule to be maintained.


370.107. 1. Every credit union organized pursuant to section 370.010 and operating pursuant to the laws of this state shall pay to the department of revenue a fee determined by the director based on the total assets of the credit union as of December thirty-first of the preceding fiscal year. One-half of the fee shall be paid on or before July fifteenth, and the balance shall be paid on or before January fifteenth of the next succeeding year. The maximum fee shall be calculated according to the following table:

Total Assets Fee Under $2,000,000 . . . . . . . . . . . . . . . . . . . .$0.125 per $1,000

of assets up to a

maximum of $250 $2,000,000 or more but less than $5,000,000 . . . . . . .$250, plus $1 per

$1,000 of assets in

excess of $2,000,000 $5,000,000 or more but less than $10,000,000 . . . . . . . . . . . . . $3,250, plus $0.35 per

$1,000 of assets in

excess of $5,000,000 $10,000,000 or more but less than $25,000,000 . . . . . . . . . . . . . $5,000, plus $0.20 per

$1,000 of assets in

excess of $10,000,000 $25,000,000 or more . . . . . . . . . . . . . . . . $8,000, plus $0.15 per

$1,000 of assets in

excess of $25,000,000.

The shares of one credit union which are owned by another credit union shall be excluded from the assets of the first credit union for the purpose of computing the supervisory fee levied pursuant to this section. All fees assessed shall be accounted for as prepaid expenses on the books of the credit union.

2. The state treasurer shall credit such payments, including all fees and charges made pursuant to this chapter to a special fund to be known as the "Division of Credit Unions Fund", which is hereby created and which shall be devoted solely and exclusively to the payment of expenditures actually incurred by the division and attributable to the regulation of credit unions. Any amount remaining in such fund at the end of any fiscal year and any earnings attributed to such fund shall not be transferred and placed to the credit of the general revenue fund as provided in section 33.080, RSMo, but shall be used, upon appropriation by the general assembly, for the payment of such expenditures of the division in the succeeding fiscal year and shall be applied by the division to the reduction of the amount to be assessed to credit unions in such succeeding fiscal year. In the event two or more credit unions are merged or consolidated, such excess amounts shall be credited to the surviving or new credit union.

3. The expense of every regular and every special examination, together with the expenses of administering the laws pertaining to credit unions, including salaries, travel expenses, supplies and equipment, credit union commission expenses of administrative and clerical assistance, legal costs and any other reasonable expense in the performance of its duties, and an amount not to exceed fifteen percent of the above-estimated expenses to pay the actual costs of rent, utilities, other occupancy expenses and other supporting services furnished by any department, division or executive office of this state and an amount sufficient to cover the cost of fringe benefits shall be paid by the credit unions of this state by the payment of fees yielded by this section.

4. The director of the division of credit unions shall prepare and maintain an equitable salary schedule for examiners, professional staff, and support personnel who are employees of the division. Personnel employed by the division shall be compensated according to this schedule, provided that such expense of administering the credit union laws is assessed and paid in accordance with this section. The positions and classification plan for such personnel attributed to the examination of the state credit unions shall allow for a comparison of such positions with similar examiner positions at federal credit union regulatory agencies. State credit union examiner positions shall not be compensated more than ninety percent of parity for corresponding federal positions for similar geographic locations in Missouri as determined by the director of the division of credit unions. Personnel employed by the division


shall be compensated according to this schedule, provided that such expense of administering the credit union laws is assessed and paid in accordance with this section.

(L. 1959 S.B. 127 § 370.109, A.L. 1967 p. 509, A.L. 1972 S.B. 502, A.L. 1977 H.B. 48, A.L. 1978 S.B. 746, A.L. 1979 S.B. 24, A.L. 1982 H.B. 1099, A.L. 1985 H.B. 469, A.L. 1991 H.B. 516, A.L. 1992 H.B. 1596, A.L. 1999 S.B. 386, A.L. 2005 S.B. 318) Entrance and transfer fees.

370.270. A credit union may charge an entrance fee, as may be provided in the bylaws which shall, however, not exceed one dollar. Fully paid-up shares may be transferred to any person upon election to membership, upon such terms as the bylaws may provide and upon the payment of a transfer fee which shall not exceed one dollar.

Montana:

32-3-401. General powers. A credit union may:

(13) assess charges to members in accordance with the bylaws for failure to meet promptly their obligations to the credit union;

(16) collect, receive, and disburse money in connection with the sale of negotiable checks, money orders, and other money type instruments and for such other purposes as may provide benefit or convenience to its members and charge a reasonable fee for the services;

Nebraska: Nebraska Revised Statute 21-1789 Revised Statutes » Chapter 21 » 21-1789 Other charges related to loans. (1) In addition to interest charged on loans, a credit union may charge members all reasonable expenses in connection with the making, closing, disbursing, extending, collecting, or renewing of loans. (2) A credit union may assess charges to members, in accordance with its bylaws, for failure to meet their obligations to the credit union in a timely manner. 21-1780. Fees related to member accounts. (1) A credit union may collect reasonable fees and charges with respect to member accounts. The fees may be for: (a) Additional copies of periodic statements; (b) Various types of transactions on a per-transaction basis; (c) A check or draft returned to the credit union by another financial institution because it was drawn against a closed account or an account with insufficient funds or for any other reason; (d) Stop-payment orders; (e) Any form of members' initiated withdrawal requests which the credit union rejects for any justifiable reason; and (f) Any other service or activity relating to member share accounts. (2) No credit union shall impose or increase any fee after October 1, 1996, until thirty calendar days after notification has been provided or made available to credit union members. Source Laws 1996, LB 948, § 80.


Nebraska Revised Statute 21-1744 21-1744. Fees. A credit union may charge an entrance fee as determined by its board of directors. A credit union may also charge periodic membership fees as determined by its board of directors. Source Laws 1996, LB 948, § 44. Nebraska Revised Statute 21-1780 21-1780. Fees related to member accounts. (1) A credit union may collect reasonable fees and charges with respect to member accounts. The fees may be for: (a) Additional copies of periodic statements; (b) Various types of transactions on a per-transaction basis; (c) A check or draft returned to the credit union by another financial institution because it was drawn against a closed account or an account with insufficient funds or for any other reason; (d) Stop-payment orders; (e) Any form of members' initiated withdrawal requests which the credit union rejects for any justifiable reason; and (f) Any other service or activity relating to member share accounts. (2) No credit union shall impose or increase any fee after October 1, 1996, until thirty calendar days after notification has been provided or made available to credit union members. Source Laws 1996, LB 948, § 80. Nebraska Revised Statute 21-1789 21-1789. Other charges related to loans. (1) In addition to interest charged on loans, a credit union may charge members all reasonable expenses in connection with the making, closing, disbursing, extending, collecting, or renewing of loans. (2) A credit union may assess charges to members, in accordance with its bylaws, for failure to meet their obligations to the credit union in a timely manner. Source Laws 1996, LB 948, § 89. 21-1798. Money-type instruments. A credit union may collect, receive, and disburse money in connection with the providing of negotiable checks, money orders, traveler's checks, and other money-type instruments, for the providing of services through automatic teller machines, and for such other purposes as may provide benefit or convenience to its members. A credit union may charge fees for such services.

Nevada: NRS 678.3435 Fee for initial investigation; annual fees; costs for additional investigations; regulations.


1. The Commissioner shall charge and collect a fee of not more than $1,000 for an initial investigation from each foreign credit union which applies for certification. The fee is not refundable. An annual fee of not more than $1,000 must be paid by each foreign credit union for its initial office and not more than $200 for each branch office. Costs for additional examinations and investigations must be paid by the credit union at an hourly rate deemed reasonable by the Commissioner. 2. The Commissioner shall by regulation determine the amount of the fees required pursuant to this section. (Added to NRS by 1987, 177; A 2005, 1891)

NRS 678.310 Procedure for incorporation; fees set by regulation. 1. The Secretary of State shall not issue any certificate of incorporation to any credit union authorizing it to do business in this state until the articles of incorporation are approved by the Commissioner. 2. An amendment to the articles of incorporation may not be filed by the Secretary of State without the written approval of the Commissioner. 3. Not less than seven persons who are residents of Nevada, have a common bond and are of legal age who desire to organize a credit union under this chapter shall first execute in triplicate an application, upon forms to be issued by the Commissioner, for permission to organize an association. The applicants shall submit with or include in their application: (a) A copy of the articles of incorporation which must comply with the provisions of NRS 81.440 except where those provisions conflict with the provisions of this chapter. (b) The par value of the shares, which must be $5 or some multiple thereof. (c) The names and addresses of the applicants and an itemized account of the financial condition of the applicants and the proposed credit union. (d) The name, which must include the words “credit union,” and the principal place of business. (e) Any additional information which the Commissioner may require to determine the character and responsibility of the applicants and the need for a credit union in the community to be served. The incorporators shall submit a set of proposed bylaws to the Commissioner with their application and the bylaws when approved by the Commissioner are effective upon filing the articles of incorporation. The Commissioner shall approve or disapprove the application within 30 days following its receipt. 4. Every application for permission to organize, as provided for in this section, must be accompanied by an application fee and a fee payment to cover expenses attendant upon the investigation required for approval. The amount of the fees must be established by regulation adopted by the Commissioner. 5. The subscribers for a credit union charter shall not transact any business until formal approval of the charter has been received. (Added to NRS by 1975, 379; A 1977, 890; 1983, 1639, 1831, 2016; 1987, 2014)

NRS 678.480 Fees and assessments. A credit union may:

1. Require, at the discretion of the directors, the payment of an entrance fee or annual membership fee of any person admitted to membership;

2. Collect, receive and disburse moneys and charge a fee for services rendered in connection with the sale of negotiable checks, money orders and other money-type instruments and for such other purposes as may provide benefit or convenience to its members; and

3. Assess charges to members in accordance with the bylaws for failure to promptly meet their obligations to the credit union.

(Added to NRS by 1975, 387)

NRS 678.790 Examinations and audits; exceptions; fees.

1. The Commissioner shall make a thorough examination of and into the affairs of each credit union organized under the provisions of this chapter, as often as the Commissioner may deem necessary, but at least once within each 18-month period. In lieu thereof, the Commissioner may accept any or all of a report of an examination of a credit union made by a federal regulatory agency. If the Commissioner accepts any part of such a report in one 18-month period, he or she shall examine the credit union to which the report pertains in the succeeding 18-month period. For the purpose of performing the examination, the Commissioner may:

(a) Subpoena witnesses and documents;

http://www.leg.state.nv.us/Statutes/73rd/Stats200519.html#Stats200519page1891

http://www.leg.state.nv.us/NRS/NRS-081.html#NRS081Sec440


(b) Administer oaths; and

(c) Compel the giving of testimony.

2. The report of the examination must contain comments to the members relative to the management of the affairs of the credit union and the general condition of the assets. Within 30 days following the receipt of the report, the directors shall call a general meeting of key personnel to consider matters contained in the report.

3. The Commissioner shall forward a copy of the report to the chair of each credit union within 30 days after it is completed. The board of directors shall inform the members of the credit union of its general condition at the next annual meeting.

4. For each examination the credit union shall pay a fee based on the rate established pursuant to NRS 658.101.

5. The board of directors may engage a certified public accountant to perform such an examination in lieu of the Commissioner. In such cases, the examination must be equivalent to the type of examination made by the Commissioner and the expense must be borne by the credit union being inspected.

6. The Commissioner shall determine whether an examination performed by an accountant pursuant to subsection 5 is equivalent to an examination conducted by the Commissioner. The Commissioner may examine any area of the operation of a credit union if the Commissioner determines that the examination of that area is not equivalent to an examination conducted by the Commissioner.

(Added to NRS by 1975, 391; A 1983, 2018; 1987, 2227; 1989, 1676; 2005, 1891)

NRS 678.800 Merger; fees set by regulation; regulations.

1. Any credit union may, with the approval of the Commissioner, merge with another credit union under the existing charter of the other credit union, pursuant to any plan agreed upon by the majority of the board of each credit union joining in the merger and approved by the affirmative vote of:

(a) A majority of the members of the merging credit union present at a meeting called for that purpose; or

(b) A majority of the members of the merging credit union voting by mail on the question.

2. After agreement by the directors of each credit union and approval by the members of the merging credit union, the chair and secretary of each credit union shall execute a certificate of merger, which must set forth:

(a) The time and place of the meeting of the board of directors at which the plan was agreed upon;

(b) The vote in favor of adoption of the plan;

(c) A copy of the resolution or other action by which the plan was agreed upon;

(d) The circumstances of the vote in which the members approved the plan agreed upon, if a vote was required; and

(e) The vote by which the plan was approved by the members, if a vote was required.

3. A copy of each of the certificates executed pursuant to subsection 2 and a copy of the plan of merger agreed upon by the credit unions joining in the merger must be forwarded to the Division of Financial Institutions for certification and returned to the credit unions within 30 days.

4. After a merger is effected, all property, property rights and interest of the merged credit union vest in the surviving credit union without deed, endorsement or other instrument of transfer, and all debts, obligations and liabilities of the merged credit union are deemed to be assumed by the surviving credit union under whose charter the merger was effected.

5. If the surviving credit union is to be a credit union chartered in accordance with the laws of this state, the application for approval of the merger must be accompanied by an application fee in an amount prescribed by regulation of the Commissioner. The applicant shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary. All money received by the Commissioner pursuant to this subsection must be placed in the Investigative Account created by NRS 232.545.


6. The Commissioner shall adopt regulations pursuant to which he or she may order any credit union chartered in accordance with the provisions of this chapter to merge with:

(a) Another credit union chartered in accordance with the provisions of this chapter; or

(b) A credit union chartered in accordance with the laws of another state or of the United States, if a majority of the board of that credit union approves the merger, when he or she determines that the merger is in the best interest of the members of the merging credit union.

7. This section is to be liberally construed to permit a credit union chartered in accordance with this chapter to merge with a credit union chartered in accordance with this chapter or any other provisions of law.

(Added to NRS by 1975, 392; A 1983, 1329, 1642, 1837, 2019; 1987, 2021; 1991, 1816)

NRS 678.810 Conversions; fee set by regulation.

1. A credit union chartered in accordance with the laws of this state may be converted to a credit union chartered in accordance with the laws of any other state or the laws of the United States, subject to regulations adopted by the Commissioner.

2. A credit union chartered in accordance with the laws of the United States or of any other state may convert to a credit union chartered in accordance with the laws of this state. To effect such a conversion, a credit union must comply with all the requirements of the authority under which it was originally chartered and the requirements of the Commissioner and file proof of such compliance with the Commissioner.

3. Every application for permission to convert to a credit union chartered in accordance with the laws of this state must be accompanied by an application fee in an amount prescribed by regulation of the Commissioner. The applicant shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary. All money received by the Commissioner pursuant to this subsection must be placed in the Investigative Account created by NRS 232.545.

(Added to NRS by 1975, 393; A 1983, 1329, 1838; 1987, 2022; 1991, 1818)

New Hampshire: 394-B:35 Directors' Powers. – The board of directors shall have the general direction of the affairs of the credit union, and shall meet monthly. It shall be the duty of the board to: XII. Fix the amount of the entrance fee, if any; XIII. Fix and assess fees, fines, and charges, if any, for programs and services offered to members; 394-B:66 Fees. – The operating fees established by the bank commissioner pursuant to RSA 383:11 shall make allowances for the special purposes and operations of a corporate credit union.

Source. 1983, 195:1, eff. Aug. 14, 1983.

New Jersey:

17:13-81 Incorporation of credit union; application; fee; certificate of incorporation. 3. a. Seven or more natural persons, all of whom are residents of this State, may incorporate a credit union on the terms and conditions provided for in this act. The incorporators shall apply to the Commissioner of Banking and Insurance, on a form supplied by the commissioner, for permission to incorporate a credit union. A certificate of incorporation, executed by the incorporators, shall be submitted with the application, as well as a fee of $50.

17:13-89. Powers A credit union's powers shall include, but not be limited to, the power to:

s. Collect, receive and disburse monies in connection with the providing of negotiable checks, money orders, travelers' checks, and similar instruments, and for any other purposes which may provide benefit or convenience to its members, and to charge a reasonable fee for these services;


17:13-104. Loans to members; security; interest; fees; lien on accounts

b. Notwithstanding the provisions of R.S. 31:1-1 to the contrary, a credit union may charge, contract for, and receive interest on loans at a rate or rates agreed to by the credit union and the member. A credit union may charge late fees and lawful fees paid to any public officer for filing, recording, or releasing a document, and may charge collection fees, not to exceed 20% of the principal balance and interest outstanding, which may be added to the principal balance of any loan placed for collection after default thereon.

New Mexico:

58-11-5. Examinations; supervision fees.

A. The director shall examine or cause to be examined each credit union. A credit union and any of its board members, executive officers, agents and employees shall give the director or his representatives full access to all books, papers, securities, records and other desired sources of information under their control.

B. A copy of the report of any such examination shall be forwarded to the board of directors of the credit union examined within thirty days after completion of the report. The report shall contain comments relative to the management of the affairs of the credit union and its general financial condition. The board of directors shall meet to consider matters contained in the report and shall respond to the director in writing, acknowledging receipt of the report and setting forth corrective measures taken or contemplated with respect to any adverse comments by the examiner.

C. In lieu of examination, the director may accept an audit report of the condition of a credit union, conducted by a certified public accountant or other qualified person or firm approved by the director. The cost of the audit shall be borne by the credit union.

D. Each credit union shall annually pay to the director a supervision fee in accordance with the following schedule:

If the credit union's total assets are —

The fee is —

Over

But Not Over

This Amount

Plus

Per

Of Excess Over

-0-

49,999

400.00

50,000

100,000

400.00

1.7227

1,000

50,000

100,001

250,000

400.00

1.1021

1,000

100,000

250,001

500,000

400.00

0.9095

1,000

250,000

500,001

1,000,000

575.13

0.5136

1,000

500,000

1,000,001

2,000,000

833.42

0.3959

1,000

1,000,000

2,000,001

5,000,000

1,226.04

0.3470

1,000

2,000,000

5,000,001

20,000,000

2,267.21

0.1800

1,000

5,000,000

20,000,001

50,000,000

4,898.96

0.1680

1,000

20,000,000

50,000,001

100,000,000

9,854.85

0.1551

1,000

50,000,000

100,000,001

17,642.07

0.1423

1,000

100,000,000

The supervision fee shall be calculated as of December 31. The fee shall be paid on or before the March 1 following the asset computation. For failure to pay the supervision fee when due, unless excused for cause by the director, the credit union shall pay to the division fifty dollars ($50.00) for each day of its delinquency. The director may prescribe lower supervision fees by regulation and in determining those fees, he may use criteria other than the total assets of the credit union paying the fee.

E. If at any time the director deems it necessary to examine a credit union more than once in any calendar year and if the credit union is determined to have violated the Credit Union Act [58-11-1 NMSA 1978] or other state laws or federal laws or regulations, the credit union shall pay to the director reimbursement of the actual costs of that examination or those examinations.

http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=query&iid=6c1804dd.55b72e94.0.0&q=%5BGroup%20%2758-11-5%27%5D



58-11-21. Membership.

A. The membership of a credit union shall consist of those persons who share a common bond set forth in the bylaws, have been duly admitted members, have paid any required one-time or periodic membership fee, or both, have paid for in cash or its equivalent one or more shares and have complied with such other requirements as the articles of organization and the bylaws specify.

58-11-53. Money-type instruments.

A credit union may collect, receive and disburse money in connection with the providing of negotiable checks, money orders, travelers checks and other money-type instruments for its members and other persons within the credit union's field of membership and in connection with the providing of services through service facilities, including automated terminal machines, and for such other purposes as may provide benefit or convenience to its members. A credit union may charge reasonable fees for those services.

New York: § 454. General powers. 4. To charge an entrance fee to any person who has applied for and been elected to membership. 5. To charge a reasonable fee for the transfer of its shares. 7. (b) To collect, receive and disburse funds in connection with the issuance of negotiable checks, money orders, travelers checks and other payment instruments to members, and to charge a fee for such services; 10. To impose financing charges and late charges in the event of late payment or default on loans and recover reasonable costs and expenses, including collection costs and reasonable attorneys' fees incurred both before and after judgment. 17. To issue shares to and accept deposits from a member, which are held in the name of a member in trust for a beneficiary or in the name of a non-member in trust for a beneficiary who is a member. No beneficiary, unless a member in his or her own right, shall be permitted to vote, obtain loans, or hold office or be required to pay an entrance or membership fee. Payment of part or all of such a trust account to the party in whose name the account is held shall, to the extent of such payment, discharge the liability of the credit union to that party and to the beneficiary, and the credit union shall be under no obligation to see to the application of such payment. In the event of the death of the party who owns a trust account, if the credit union has been given no other written notice of the existence or terms of any trust and has not received a court order as to disposition of the account, the account's funds and any dividends or interest thereon shall be paid to the beneficiary.

North Carolina: § 54‑109.14. Fees. (a) Each credit union subject to supervision and examination by the Administrator of Credit Unions, including credit unions in process of voluntary liquidation, shall pay into the office of the Administrator of Credit Unions twice each year, in the months of January and July, supervision fees, except those credit unions which liquidate or convert its charter shall pay into the office of the Administrator of Credit Unions, to the date of dissolution, pro rata supervision fees. Examination fees shall be paid promptly upon receipt of the examination report and invoice. The Administrator of Credit Unions, subject to the advice and consent of the Credit Union Commission, shall, on or before December 1 of each year, determine and fix the scale of supervisory and examination fees to be assessed during the next calendar year. No credit union shall be required to pay any supervisory fee until the expiration of 12 months from the date of the issuance of a certificate of incorporation to such credit union. (b) Moneys collected under this section shall be deposited with the State Treasurer of North Carolina and expended, under the terms of the Executive Budget Act, to defray expenses incurred by the office of the Administrator of Credit Unions in carrying out its supervisory and auditing functions.




(c) All revenue derived from fees will be placed into a special account to be administered solely for the operation of the Credit Union Division. (1915, c. 115, s. 7; C.S., s. 5238; 1925, c. 73, ss. 3, 7; 1935, c. 87; 1941, c. 235; 1955, c. 1135, ss. 3, 4; 1957, c. 989, s. 7; 1965, c. 956, ss. 1, 23, 24; 1969, c. 69, s. 6; 1971, c. 864, s. 17; 1973, c. 199, s. 12; 1975, c. 538, s. 1; 1977, c. 559, ss. 2, 3.) § 54-109.21. General powers.

A credit union may: (5) At the discretion of the board of directors, require the payment of an entrance fee or annual membership fee, or both, of any person admitted to membership; (16) Sell travelers checks and money orders and charge a reasonable fee for such services, provided the travelers checks are payable at institutions other than a credit union;

North Dakota: 6-06-02. Manner of organization of credit unions. A credit union must be organized in the following manner: 6. The board shall instruct the secretary of state to issue a charter, which must be attached to the certificate of organization and returned, together with the bylaws, to the applicants upon payment of a filing fee of thirty dollars to the secretary of state. 6-06-04. Amendment of certificate or bylaws - Approval by state credit union board. The certificate of organization or bylaws of a credit union may be amended by the board of directors or the membership of the credit union as specified in the bylaws. If the bylaws provide for amendments by the board of directors, such amendments require an affirmative vote of two-thirds of the authorized number of members of the board of directors of the credit union at any duly held meeting of the board, if the members of the board have been given prior written notice of said meeting and the notice contains a copy of the proposed amendment or amendments. If the bylaws provide for amendments by the membership of the credit union, such amendments require an affirmative vote of two-thirds of the members present and voting at a duly called regular or special meeting of the membership, providing the members have been given prior written notice of said meeting and the notice contains a copy or summary of the proposed amendment or amendments. No amendment of the bylaws or of the certificate of organization becomes effective, until approved in writing by the state credit union board. Amendments to the certificate of organization together with a filing fee of twenty dollars must be filed with the secretary of state within thirty days after the amendments have been approved by the state credit union board. 6-06-07. Membership in credit union. 1. The membership of a credit union consists of the incorporators and such other persons as may be elected to membership. Each member shall subscribe to and pay the initial installment on at least one share in the credit union and pay the entrance fee as provided by the bylaws of the credit union. Organizations, incorporated or otherwise, composed principally of the same general group as the credit union membership may be members of the credit union 6-06-08. State credit union board to supervise credit unions - Reports - Examinations - Fees. 1. Credit unions and the permanent loan funds of credit unions, if any, are under the supervision of the commissioner. Credit unions shall report to the commissioner when called by the commissioner and at least four times each year. The commissioner shall prescribe the forms for the reports. At the discretion of the commissioner, a call may be complied with by submission of a copy of the call report e-mailed directly to the department of financial institutions or by other electronic means of transmission. The call reports are due within thirty days of the call, or according to the deadlines published on the form NCUA 5300, whichever comes first. The commissioner may call for special reports from any credit union whenever in the commissioner's judgment it is necessary to obtain complete knowledge of thecondition of the credit union. Every credit union that fails to make and transmit any report required in pursuance of this section shall forfeit and pay to the state a penalty of up to five hundred dollars for each day of delinquency, not to exceed two thousand five hundred dollars. At the discretion of the commissioner, all or part of this penalty may be waived if the reports are submitted within three days after the due date required by this section. 2. Credit unions must be examined at least once each twenty-four months by the commissioner. In lieu of the examinations herein required, the commissioner may accept any examination made or obtained by the national credit union administration and may conduct a joint examination with the national credit union administration. 3. If it is determined through an examination or otherwise that the credit union isviolating the provisions of this chapter, or is insolvent, the state credit union board


may serve notice on the credit union of its intention to revoke the charter. If such violations continue for a period of fifteen days after such notice, the board may revoke the charter and take possession of the business and property of such credit union and shall maintain possession then until such time as it permits the reinstatement of the charter and the continuation of business by the credit union, or until its affairs finally are liquidated. The board may take similar action if any required report remains in arrears for more than fifteen days. 4. Every state credit union, including any "corporate central" or "corporate" credit union, placed under the jurisdiction and control of the state credit union board and the commissioner by the provisions of this title shall pay a yearly assessment. This assessment is to be determined by the state credit union board as necessary to fund that portion of the department's budget relating to the regulation of state-chartered credit unions. The assessment must be paid to the state treasurer within thirty days of each June thirtieth. Credit unions that have not been examined by the commissioner or the state credit union board for three years prior to any assessment date are not required to pay the assessment. The state treasurer shall report the payments of fees to the commissioner, and if any credit union is delinquent more than twenty days in making payment, the board may make an order suspending the functions of the delinquent credit union until payment of the amount due. The commissioner may assess a penalty of five dollars for each day that the penalty is delinquent. The examination fee for any "corporate central" or "corporate" credit union shall be charged by the department at an hourly rate to be set by the commissioner, sufficient to cover all reasonable expenses of the department associated with the examination. All fees and penalties under this section must be paid to the state treasurer and deposited in the financial institutions regulatory fund. 6-06-16. Entrance fee - Capital - Lien on shares - Assessment on shares. A credit union may charge such entrance fee as may be provided by its bylaws. Its capital consists of the entrance fees paid in and the payments made to it by the several members on shares therein. The credit union has a lien on the shares and deposits of a member for any sum due to the credit union from that member or for the amount due on any loan endorsed by that member. A credit union that is a member of the North Dakota credit union league may, by resolution adopted with a quorum present at a regular or special meeting of the board of directors of the credit union, annually assess against the share accounts of all members of the credit union an amount equal to the whole or proportionate part of the annual membership fee payable to the North Dakota credit union league. 6-06-36. Merger. Any credit union chartered under this chapter or under Act of Congress may merge under rules and regulations established by the state credit union board. A federal credit union proposing to merge into a state-chartered credit union shall grant the commissioner discretionary authority to conduct an examination. The commissioner shall set fees for such examination at an hourly rate sufficient to cover all reasonable expenses of the department of financial institutions associated with the examination. Fees must be collected by the commissioner, transferred to the state treasurer, and deposited in the financial institutions regulatory fund. The secretary of state shall charge a fee of fifty dollars for all services in connection with a merger authorized by the state credit union board, including filing of a certificate of organization or bylaws, and issuing or canceling charters.

Ohio:

1733.04 Authority of credit union.

(4) If authorized by the regulations, charge a membership or entrance fee not to exceed one dollar per member;

1733.07 Forming a credit union.

Seven or more persons who have a common bond of association, and a majority of whom are residents of the state, may form a credit union by:

C) Submitting to the superintendent of credit unions so many copies of the properly executed articles and regulations as he may by rule require, together with a properly executed form appointing a statutory agent in accordance with section 1701.07 of the Revised Code, and the fee required by the secretary of state for filing articles of a credit union.

1733.32 Powers of superintendent of financial institutions. (E)(1) Except as provided in division (E)(2) of this section, each credit union doing business in this state shall remit, semiannually and within fifteen days after billing, to the treasurer of state, a supervisory fee in an amount determined by the superintendent and confirmed by the credit union council. The supervisory fee described in division (E)(1) of this section shall be based on a percentage of the gross assets of the credit union as shown by its last annual financial report filed with the superintendent in accordance with division (C) of this section. The minimum supervisory fee shall be determined by the superintendent and confirmed by the credit union council.

1301:9-1-04 Annual financial report and supervisory fee.

http://codes.ohio.gov/orc/1733.04



http://codes.ohio.gov/oac/1301%3A9-1-04


(A) Each credit union shall file an annual financial report of the affairs and business of the credit union as of December thirty-first of the preceding year pursuant to division (c) of section 1733.32 of the Revised Code. The annual financial report shall be filed upon the date designated by the division of financial institutions in a notice mailed to each credit union at least thirty days in advance of the filing date. If a credit union fails to file its annual financial report by the filing date, the superintendent may assess a fine in accordance with paragraph (k) of this rule.

(B) Each credit union engaged in operations as of January first of a calendar year shall pay the supervisory fee described in division (e) of section 1733.32 of the Revised Code based on a percentage of the gross assets of the credit union, as shown by its last annual financial report, by the following groupings:-

(1) The amount from $1 to $125,000 of the credit union’s gross assets shall be billed at a rate as established by the superintendent;

(2) The amount from $125,001 to $4,000,000 of the credit union’s gross assets shall be billed at a rate which is not less than one-fiftieth of one per cent, or .20 per $1,000 and not more than

A rate of one-ninth of one per cent, or 1.11 per $1,000

(3) The amount from $4,000,001 to $30,000,000 of the credit union’s gross assets shall be billed at a rate which is no greater than one-sixteenth of one per cent, or .62 per $1,000;

(4) any amount above $30,000,000 of the credit union’s gross assets shall be billed at a rate which is no greater than one-twentieth of one per cent, or .50 per $1,000

(C) “Gross assets” are defined as total assets, plus the allowance for loan loss account, plus the allowance for investment loss account.

(D) In accordance with division (e)(4) of section 1733.32 of the Revised Code, the total amount of each semiannual billing to all credit unions combined shall equal one-half of the appropriation made by the Main Operating Appropriation Act, including any modifications made by the controlling board. In determining the supervisory fees the superintendent may take into consideration any funds lapsed from the appropriation made in the previous fiscal year.

(E) New charters-a newly chartered credit union is not required to pay a supervisory fee in the year in which its legal existence begins.

(F) Conversions-a federal credit union which converts to a state chartered credit union is not required to pay a supervisory fee in the year of the conversion. A state chartered credit union which converts to a federal credit union shall not receive a refund of any supervisory fee paid to the division prior to the effective date of the conversion.

(G) Mergers-a credit union which merges with a state chartered or federal credit union shall not receive a refund of any supervisory fee paid to the division prior to the effective date of the merger. The superintendent may waive payment by a credit union of the supervisory fee which has been assessed, but not paid, prior to the superintendent’s final approval of a merger, if he determines that the payment of the fee would cause severe financial hardship to the credit union going out of existence.

(H) Voluntary dissolution or appointment of a liquidating agent-a credit union which files a certificate of dissolution or for which a liquidating agent is appointed shall not receive a refund of any supervisory fee paid to the division prior to the filing or appointment. The superintendent may waive payment by a credit union of the supervisory fee which has been assessed, but not paid, prior to the filing of a certificate of dissolution or when a liquidating agent is appointed, if he determines that payment of the fee would cause severe financial hardship to the dissolving or liquidating credit union.

(I) Each credit union shall remit the supervisory fee within fifteen days after billing. If the credit union fails to remit the supervisory fee by the fifteenth day after the date of the division’s billing, the superintendent may assess a fine in accordance with paragraph (k) of this rule.

(J) In accordance with division (b) of section 1733.32 of the Revised Code, a credit union shall submit a financial report to the division when requested by the superintendent within thirty days of the superintendent’s request. If the credit union fails to comply with division (b) of section 1733.32, the superintendent may assess a fine in accordance with paragraph (k) of this rule.

(K) Pursuant to paragraphs (a), (i), and (j) of this rule, the superintendent may impose a fine of not more than five hundred dollars for each day the credit union is late in submitting a financial report or supervisory fee. In determining the amount of the fine to be assessed the superintendent shall consider all of the following:


(1) The credit union’s asset size and financial resources;

(2) The seriousness of the violation;

(3) The credit union’s good faith efforts to prevent the violation;

(4) The credit union’s history regarding violations of this rule; and

(5) Any other matters the superintendent considers appropriate in enforcing section 1733.32 of the Revised Code and this rule.

R.C. 119.032 review dates: 03/17/2006 and 11/15/2010

Promulgated Under: 119.03

Statutory Authority: 1733.41

Rule Amplifies: 1733.32

Prior Effective Dates: 7/10/98

1301:9-2-09 Document service charge and filing fees.

(A) As specified in division (G) of section 1733.32 of the Revised Code, the superintendent may charge a fee not to exceed the following:

(1) Fifty cents per page for the reproduction of articles of incorporation, code of regulations and amendments thereto, and

(2) Fifty cents per page for the reproduction of examination reports and other documents.

(B) The documents necessary to organize a credit union shall include the articles of incorporation, the code of regulations, and the appointment of statutory agent. A credit union shall submit these documents in duplicate with to the superintendent together with a check made payable to the secretary of state in the amount required by the secretary to file the articles of a credit union and a check made payable to the division of credit unions in the amount of fifty dollars.




Rule Amplifies: 1733.31, 1733.07


1301:9-2-26 Service fees.

By resolution of the board of directors, reasonable fees or service charges may be assessed, and such charges or fees shall be subject to proper disclosure to the membership.







Rule Amplifies: 1733.15


Oklahoma: § 2006. Succession - Powers 11. To fine members, in accordance with the bylaws, for failure to meet their obligations promptly to their credit union; 13. To charge an entrance fee as provided in the bylaws;

180:10-1-15. Fees [Back]

(a) The following applications shall be accompanied by a payment to the Department in an amount as prescribed below:

(1) Applications for merger or acquisition when the surviving credit union will be a state chartered credit union shall be accompanied by a fee of $1,000 and a copy of the merger agreement or agreement of purchase. The Board may waive the fee when the merger is required at the direction of a state or federal regulatory agency.

(2) Applications for merger or acquisition when the surviving credit union will be a federally chartered credit union shall be accompanied by a fee of $800 and a copy of the merger agreement or agreement of purchase. The Board may waive the fee when the merger is required at the direction of a state or federal regulatory agency.

(3) Applications for conversion from a state chartered credit union to a federally chartered credit union or other form of financial institution shall be accompanied by a fee of $800.

(4) Applications for conversion from a federally chartered credit union to a state chartered credit union shall be accompanied by a fee of $1,000. The applicant shall also pay the costs and fees associated with the special exam of the converting credit union.

(5) Applications for amendment to bylaws shall be accompanied by a fee of $400.

(6) Applications to be heard by the Board to add a select associational group or select employee group shall be accompanied by a fee of $400.

(7) Applications for a change to the credit union’s field of membership shall be accompanied by a fee of $800.

(8) Applications for an expansion of the credit union’s investment powers shall be accompanied by a fee of $800.

(9) Applications for an increase in the credit union’s investment percentage in real estate, buildings, fixtures, furniture, and equipment shall be accompanied by a fee of $800.

(10) Applications for expansion of powers other than those listed in paragraphs (8) and (9) of this subsection shall be accompanied by a fee of $800.

(b) Other application fees may be charged to applicants based on other provisions of this Title or the Act. Oregon: 723.152 General powers; rules. In addition to the powers conferred by the general corporation law a credit union may, subject

to the restrictions and limitations contained in this chapter and the credit union’s bylaws: (28) For a fee, cash checks and money orders and send or receive domestic and international electronic funds transfers for persons eligible for credit union membership under ORS 723.172, whether or not such persons are members of the credit union. The fee a

http://www.state.ok.us/~osbd/Credit/Rules/credrule.htm#ch10sub1


credit union may charge for cashing checks or money orders in accordance with this subsection may not exceed the following amounts, as appropriate: (a) For a check or money order issued by the federal government or an agency of the federal government, by this state or an agency of this state, by any other state or political subdivision thereof or by the government of the municipality in which a person is cashing the check or money order, or for a check that is a payroll check drawn against an account held in a financial institution in this state: (A) $5 or two percent of the face value of the check or money order, whichever is greater, if the person cashing the check or money order provides valid and current government-issued photo identification; or (B) $5 or 2-1/2 percent of the face value of the check or money order, whichever is greater, if the person cashing the check or money order does not provide valid and current government-issued photo identification. (b) For a check or money order not described in paragraph (a) of this subsection: (A) $5 or three percent of the face value of the check or money order, whichever is greater, if the person cashing the check or money order provides valid and current government-issued photo identification; or (B) $5 or 3-1/2 percent of the face value of the check or money order, whichever is greater, if the person cashing the check or money order does not provide valid and current government-issued photo identification.

441-710-0500

Fees and Charges Credit Unions Pay the Director

(1) Effective February 1, 2008, the annual regulatory fee under ORS 723.114(1), which is due and payable on March 1 of each calendar year, by each credit union, with assets of:

(a) Less than $10 million, is $250 plus .000129 of all assets;

(b) $10 million or more but less than $20 million, is $1110 plus .000156 of all assets;

(c) $20 million or more but less than $50 million, is $1170 plus .000149 of all assets;

(d) $50 million or more but less than $100 million, is $1350 plus .000141 of all assets;

(e) $100 million or more but less than $200 million, is $7100 plus .000099 of all assets;

(f) $200 million or more but less than $500 million, is $7900 plus .000095 of all assets;

(g) $500 million or more but less than $1 billion, is $9400 plus .000092 of all assets;

(h) $1 billion or more but less than $2 billion, is $10,400 plus .000091 of all assets;

(i) $2 billion or more is $12,400 plus .000090 of all assets; or

(j) If the credit union is a corporate credit union, the fee schedule is $16,800 plus .0000345 of all assets.

(2) The rate of charge payable by a credit union is $75 an hour for each examiner used in an examination for extra services provided a credit union under ORS 723.114(2).

(3) Notwithstanding the rate of charge fixed by section (2) of this rule:

(a) If an examiner from the division or the Supervisor is required to travel out of state for an examination or to provide extra service, the rate of charge payable by the credit union is $75 an hour per person, plus actual expenses for travel and subsistence;

(b) If the examination or the extra service is performed by a consultant hired by contract for the particular work, the charge payable by the credit union is the actual cost to the division of the contract consultant.


(4) In addition to the charges fixed by sections (2) and (3) of this rule, the Director will collect from a credit union any additional costs directly attributable to extra services given the credit union under ORS 723.114(2).

(5) As used in this rule:

(a) "Assets" means the average value of total assets reported by the credit union for the four calendar quarters ending with the quarter immediately preceding the due date of the fee. However, if a credit union was not in existence or doing business in this state during all of the prior calendar year "assets" means the average assets reported on the quarterly reports for the quarters for which reports were required to be filed during the calendar year immediately preceding the due date of the fee;

(b) "Extra service" means any special examination or examination in connection with a conversion.

(6) The annual regulatory fee of a credit union that is party to a merger or conversion, or is liquidated or dissolved:

(a) Is not subject to refund in whole or in part if the merger, conversion, liquidation or dissolution occurs prior to the end of the calendar years for which a fee has been paid;

(b) Is not subject to pro ration if the credit union operated during any part of the calendar year during which the merger, conversion, liquidation or dissolution occurred.

(7) An application for a credit union charter under ORS 723.012 must be accompanied by a fee of $350.

(8) An application to establish an additional place of business under ORS 723.032 must be accompanied by a fee of $300.

(9) The Director may by order reduce the fees assessed for any specific year.

Stat. Auth.: ORS 705.620, 723.012, 723.032, 723.102 & 723.532 Stats. Implemented: ORS 723.114 & 723.532, Ch. 343, 2007 OL Hist.: FID 9-1985, f. & ef. 12-31-85; FCS 2-1988, f. 1-29-88, cert. ef. 2-1-88; Renumbered from 805-072-0010; FCS 1-1989, f. 1-18-89, cert. ef. 2-1-89; FCS 1-1991, f. 1-28-91, cert. ef. 2-15-91; FCS 3-1994, f. 2-1-94, cert. ef. 2-15-94; Administrative correction 9-29-97; FCS 3-2000, f. & cert. ef. 3-9-00; FCS 3-2001, f. & cert. ef. 2-13-01; FCS 1-2005(Temp), f. & cert. ef. 3-4-05 thru 8-30-05; Renumbered from 441-710-0010, FCS 2-2005, f. & cert. ef. 8-25-05; FCS 1-2008, f. & cert. ef. 1-28-08

441-710-0505

Amendment and Late Charge Fees

(1) The fees for amendments authorized by ORS 723.022 are as follows for each submission:

(a) Amendment of articles of incorporation, $25;

(b) Amendment of bylaws, $25.

(2) The following charges apply to late reports filed by the credit union with the director. The fine is for each day the report is late:

(a) Quarterly call reports; $100;

(b) Supervisory Committee Report, $10;

(c) Examination report reply, $10;

(d) Monthly reports when required by the director, $10. The reports may include, but are not limited to:

(A) Financial statement, including income and expenses;


(B) Board of Director minutes.

Stat. Auth.: ORS 723.022 & 723.106 Stats. Implemented: ORS 723.022 & 723.106 Hist.: FCS 5-1991(Temp), f. & cert. ef. 9-30-91; FCS 6-1991, f. 10-29-91, cert. ef. 11-1-91; Renumbered from 441-710-0015, FCS 2-2005, f. & cert. ef. 8-25-05

Pennsylvania: § 304. Department of Banking consideration of articles. (a) General rule.--The articles of incorporation and two copies of the proposed bylaws for the general governance of the credit union shall be presented to the department, together with such reasonable fees as shall be established by the department, including an application fee and other fees for such examination and such investigation as it may deem necessary § 501. Powers. (d) Special powers of community development credit unions.-- A community development credit union may do all of the following: (3) Engage in any other programs or activities permitted by Federal or State law applicable to a community development credit union with the prior written approval of the department upon filing of an application and submittal of a fee. § 509. Fees and charges. (a) Entrance fees.--A credit union may charge an entrance fee of an amount, not in excess of $1, as may be provided by the bylaws. (b) Fees in connection with loans.--A credit union may collect fees paid to public officials, actual fees necessary to secure collateral, fees required to be charged by government agencies and reasonable attorney fees. Furthermore, in connection with real estate loans, a credit union may collect charges and fees necessary to sell the loans to any agency or instrumentality of the Federal Government or a corporation which engages in the business of purchasing mortgage loans. (c) Fees in connection with collectors or outside collection agencies.--A credit union may collect fees paid to outside collectors or outside collection agencies, provided the aggregate of such collection fees does not exceed 20% of the outstanding loan balance. (d) Other fees.--A credit union may additionally charge fees for other services to its members, provided that the fees charged will be for the actual cost of the respective services provided by the credit union. (e) Late payment charges.--A credit union may collect late payment charges not in excess of 5% of the principal and interest due on any installment payment of a loan that is more than 15 days delinquent. § 1102. Conversion from Federal credit union. (3) Filing with the department, together with such reasonable fees as shall be established by the department, including an application fee and fees for such examination and such investigation as it may deem necessary, articles of conversion which shall set forth: South Carolina:

SECTION 34-26-270. Fees to defray administration, supervision, examination and other expenses of annual examination of credit union.

(1) The board shall establish annual supervisory fees to be paid by credit unions. Such fees shall defray, as far as practicable, the administrative, supervisory, examining, and other expenses of the annual examination.

(2) Any such fees established shall be in accordance with a graduated scale on the basis of assets and shall be payable annually.

SECTION 34-26-500. Requirements of membership; eligible groups; requirement of board approval.

(1) The membership of a credit union may consist of groups having different common bonds, having been duly admitted as members, having paid any required one-time or periodic membership fee, or both, having subscribed to one or more shares, and having complied with such other requirements as the articles of incorporation and bylaws specify.

SECTION 34-26-820. Incidental fees and expenses.


(1) In addition to interest charged on loans, a credit union may charge members all reasonable expenses in connection with the making, closing, disbursing, extending, collecting, or renewing of loans allowed by the Consumer Protection Code.

(2) A credit union may assess charges to members, in accordance with the bylaws, for failure to meet their obligations to the credit union in a timely manner.

SECTION 34-26-930. Collection, receipt, and disbursement in connection with negotiable instruments; automated services; fees.

A credit union may collect, receive, and disburse monies in connection with the providing of negotiable checks, money orders, travelers checks, wire transfers, and sight drafts, and the providing of services through automated teller machines and for such other purposes as may provide benefit or convenience to its members. A credit union may charge fees for such services.

Tennessee: 45-4-301. Membership — Qualifications — Entrance fee. — (a) The membership shall consist of incorporators and persons, societies, associations, copartnerships and corporations that have been duly elected to membership and have subscribed to one (1) or more shares and have paid for the same in whole or in part, with the entrance fee as required by the bylaws, and have complied with other requirements that the certificate of organization may contain; except that a credit union shall be limited to groups having a common bond of occupation or association or to groups within a well-defined neighborhood, community, or rural district. (b) A credit union may charge an entrance fee as may be provided in the bylaws. [Acts 1923, ch. 68, §§ 7, 15; Shan. Supp., §§ 2198a10, 2198a22; Code 1932, §§ 3838, 3849; Acts 1931, ch. 67, § 1; 1937, ch. 264, § 5; C. Supp. 1950, §§ 3838, 3849; Acts 1951, ch. 192, § 1; 1979, ch. 86, § 1; T.C.A. (orig. ed.), § 45-1807.] 45-4-802. Fee. — At the time of incorporation, every credit union shall pay the secretary of state a fee of ten dollars ($10.00). [Acts 1923, ch. 68, § 25; Shan. Supp., § 2198a32; Code 1932, § 3859; Acts 1931, ch. 67, § 1; mod. C. Supp. 1950, § 3859; T.C.A. (orig. ed.), § 45-1830; Acts 1985, ch. 17, § 8.]

Texas: SUBCHAPTER B. OPERATIONAL POWERS Sec. 123.210. SALE OF CERTAIN INSTRUMENTS OR SECURITIES; FEE. A credit union may: (1) collect, receive, and disburse money: (A) in connection with the sale of a traveler's check, money order, cashier's check or draft, treasurer's draft, similar instrument, or

security of any type; or (B) for another purpose that may provide a benefit or convenience for its members; and

(2) collect a fee for those services.

SUBCHAPTER C. LOAN EXPENSES Sec. 124.101. BORROWER PAYMENT OF LOAN EXPENSES.

30 Texas Finance Code, Title 3, Subtitle D: Credit Unions A credit union may require a member to pay all reasonable expenses and fees incurred in connection with making, closing, disbursing, extending, readjusting, or renewing a loan, whether or not those expenses or fees are paid to third parties. Sec. 126.055. FEE. The commission may establish and a credit union shall pay a fee based on the cost of performing an examination of the credit union. Sec. 126.303. PRIORITY OF CLAIMS.


The liquidating agent shall use the credit union's assets to pay, in the following order: (1) secured creditors to the extent of the value of their collateral; (2) liquidation expenses, including a surety bond if required; (3) depositors;

(4) general creditors, including secured creditors to the extent that their claims exceed the value of their collateral; and (5) distributions to members in proportion to the shares held by each member.

TITLE 7 BANKING AND SECURITIES PART 6 CREDIT UNION DEPARTMENT CHAPTER 91 CHARTERING, OPERATIONS, MERGERS, LIQUIDATIONS SUBCHAPTER G LENDING POWERS RULE §91.716 Prohibited Fees -------------------------------------------------------------------------------- A credit union shall not make any loan or extend any credit if, either directly or indirectly, any commission, fee, or other compensation from any person or entity other than the credit union is to be received by the credit union's directors, committee members, senior management employees, loan officers, or any immediate family members of such individuals, in connection with underwriting, insuring, servicing, or collecting the loan or extension of credit. -------------------------------------------------------------------------------- Source Note: The provisions of this §91.716 adopted to be effective August 9, 1999, 24 TexReg 6023 TITLE 7 BANKING AND SECURITIES PART 6 CREDIT UNION DEPARTMENT CHAPTER 91 CHARTERING, OPERATIONS, MERGERS, LIQUIDATIONS SUBCHAPTER D POWERS OF CREDIT UNIONS RULE §91.408 User Fee for Shared Electronic Terminal -------------------------------------------------------------------------------- A credit union that owns an electronic terminal that is connected to a shared network may impose a fee on a non-member for the use of that terminal if imposition of the fee is disclosed in compliance with applicable federal law. -------------------------------------------------------------------------------- Source Note: The provisions of this §91.408 adopted to be effective March 14, 2004, 29 TexReg 2636

Utah: 7-9-5. Powers of credit unions. (6) require an entrance or membership fee; (9) charge fees for its services;

Vermont The Vermont Statutes Online

Title 8: Banking and Insurance

Chapter 220: SUPERVISION AND REGULATION

8 V.S.A. § 30202. Fees and department expenses

§ 30202. Fees and department expenses

The provisions of sections 18 and 19 of this title shall apply to credit unions in the same manner as they apply to financial institutions. Except for fees related to the formation of a credit union, formation of a credit union service organization, and


formation of a corporate credit union, credit unions with less than $30 million in assets shall not be charged more than $100.00 per service for the services described in subsection 19(a) of this title. (Added 2005, No. 16, § 1, eff. July 1, 2005.)

§ 30601. Examinations

(b) The commissioner may at any time conduct a special examination or may expand the scope of any regular examination. An entity examined pursuant to this subsection shall be responsible for examination fees and expenses as provided in sections 18 and 19 of this title.

§ 31101. Application to organize

(b) Fees. At the time of making the application, the applicant shall pay to the commissioner the charter fee required by section 30202 of this title. The commissioner may charge the applicant for other services in accordance with section 30202.

§ 32102. General powers

(8) Offer related financial services to its members, including, but not limited to, electronic financial services, safe deposit boxes, negotiable instruments, leasing, and correspondent arrangements with other financial institutions, and charge a reasonable fee for such services;

(11) Require the payment of an entrance fee or annual membership fee, or both, of any person admitted to membership, pursuant to resolution of the governing body;

(17) Assess fees and charges to members subject to applicable laws and regulations, for failure to meet promptly their obligations to the credit union;

(19) Subject to applicable state and federal laws and regulations, including applicable insurance laws, act as the agent for any fire, life, accident, health, credit life, disability or other insurance company, other than a title insurance company, authorized by the state of Vermont, by soliciting and selling insurance and collecting premiums on policies issued by such company; and receive for services so rendered such fees or commissions as may be agreed upon by the credit union and the insurance company for which it may act as agent; provided, however, that no such credit union shall in any case assume or guaranty the payment of any premium on insurance policies issued through its agency by its principal; and provided further that the credit union shall not guaranty the truth of any statement made by an insured in filing his or her application for insurance;

§ 32701. Organization of a credit union service organization

(a) With the approval of the commissioner, a credit union may establish a credit union service organization (CUSO) by itself or jointly with one or more other Vermont credit unions, federal credit unions, state-chartered credit unions, or other federally insured depository institutions within or outside this state. The establishing credit union shall file an application with the commissioner, which application shall include a description of the services to be engaged in by the CUSO, an explanation of how the proposed services are related to credit union services, the application fee, and any other information that the commissioner may require

Virginia:

§ 6.1-225.5. Fees for examination, supervision, and regulation.

In order to defray the costs of the examination described in § 6.1-225.4 and of supervision and regulation by the Commission, every credit union shall pay an annual fee, to be calculated in accordance with a schedule set by the Commission. Such schedule shall bear a reasonable relationship to the total assets of various individual credit unions, to the actual cost of their respective examinations, and to other factors relating to their supervision and regulation. Fees shall be assessed pursuant to this section on or before March 1 each year. All fees so assessed shall be paid by the credit union to the state treasury on or before March 31 following the assessment.

§ 6.1-225.52. Other charges.

http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+6.1-225.4


A. In addition to interest charged on loans, a credit union may charge members all reasonable expenses in connection with making, closing, disbursing, extending, collecting, or renewing loans.

B. In accordance with the bylaws, a credit union may assess charges to members for failure to meet in a timely manner their obligations to the credit union.

(1990, c. 373.)

§ 6.1-225.52. Other charges.

A. In addition to interest charged on loans, a credit union may charge members all reasonable expenses in connection with making, closing, disbursing, extending, collecting, or renewing loans.

B. In accordance with the bylaws, a credit union may assess charges to members for failure to meet in a timely manner their obligations to the credit union.

(1990, c. 373.)

§ 6.1-225.61:1. Examinations; periodic reports; cooperative agreements; assessment of fees.

D. Out-of-state credit unions may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the laws of this Commonwealth and regulations of the Commission. Such fees may be shared with other state and federal regulators and agencies in accordance with agreements between them and the Commission.

Washington: WAC 208-418-010 Agency filings affecting this section Definitions. Unless the context clearly requires otherwise, as used in this chapter: (1) "Credit union" includes a Washington credit union, an out-of-state credit union and a foreign credit union. (2) "Foreign credit union" means a credit union organized and operating under the laws of another country or other foreign jurisdiction, that is operating a branch in Washington in accordance with RCW 31.12.471. (3) "Hourly fee" means a fee of $64.35 per hour per examiner or other staff person of the division. (4) "Out-of-state credit union" means a credit union organized and operating under the laws of another state or U.S. territory or possession, that is operating a branch in Washington in accordance with RCW 31.12.471. (5)(a) "Total assets" of a Washington credit union includes all assets of the credit union as reported on the credit union's most recent form 5300 or similar financial report. (b) "Total assets" of an out-of-state or foreign credit union is derived from the following fraction: Total assets x in-state shares and deposits Total shares and deposits "Total assets" and "shares and deposits" include respectively all assets and shares and deposits as reported on the credit union's most recent form 5300 or similar financial report. (6) "Washington credit union" means a credit union organized and operating under chapter 31.12 RCW. WAC 208-418-020 No agency filings affecting this section since 2003

http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+6.1-225.61C1


Collection of fees. Chapter 31.12 RCW authorizes the director to charge fees to credit unions and certain other persons in order to cover the costs of the operation of the division of credit unions and to establish a reasonable reserve for the division. As set forth in more detail in this chapter, the fees for this purpose shall consist of: (1) Quarterly asset assessments charged to credit unions; (2) Charges to a credit union for costs incurred by the division for certain types of attorney general or special counsel assistance in regard to the credit union; and (3) Certain other fees charged by the director. The director may waive all or any portion of any fee payable by a credit union or other person. [Statutory Authority: RCW 31.12.426(1), 31.12.516(2),43.320.040 . 01-12-004, § 208-418-020, filed 5/23/01, effective 6/23/01. Statutory Authority: 1996 c 274. 96-12-058, § 208-418-020, filed 5/31/96, effective 7/1/96. 96-06-011, recodified as § 208-418-020, filed 2/23/96, effective 6/1/96. Statutory Authority: RCW 31.12.535 and 31.12.545. 95-06-066, § 419-18-020, filed 2/28/95, effective 3/31/95. Statutory Authority: RCW 31.12.320. 83-20-027 (Order 83-4), § 419-18-020, filed 9/26/83; 82-13-016 (Order 82-5), § 419-18-020, filed 6/7/82.] WAC 208-418-040 Agency filings affecting this section Quarterly asset assessments. (1) The director will charge each credit union a quarterly asset assessment at the rate set forth in subsection (2) of this section. Asset assessments will be due on January 1, April 1, July 1, and October 1. Asset assessments must be paid no later than thirty days after their due date. The assessments will be computed on total assets as of the prior June 30 for the October 1 and January 1 assessments, and as of the prior December 31 for the April 1 and July 1 assessments. (2) Credit Union's Total Assets Quarterly Asset Assessment over $500M $21,163 + (.00001729 x total assets over $500M) over $100M up to $500M $5,883 + (.00003819 x total assets over $100M) over $25M up to $100M 0.00005883 x total assets over $10M up to $25M $1,296 over $2M up to $10M $863 over $500K up to $2M $575 up to $500K $0 M = Million K = Thousand (3) Quarterly asset assessments are charged for the calendar quarter that begins on the due date of the assessment. No rebates will be made to credit unions that cease to be state-chartered during the quarter. A credit union converting to state charter will pay a prorated quarterly asset assessment for the quarter during which the conversion is completed. (4) From time to time, the director may determine that asset assessments on an out-of-state credit union or foreign credit union are inappropriate relative to the level of examination and supervision of that credit union by the division. In that event, the director may charge the credit union hourly fees for examination and supervision of the credit union, including, but not limited to, offsite monitoring, in lieu of asset assessments. Such fees are due upon receipt of billing from the division. [Statutory Authority: RCW 31.12.516, 43.320.040, and chapter 43.135 RCW. 10-06-050, § 208-418-040, filed 2/24/10, effective 3/27/10. Statutory Authority: Chapter 43.135 RCW, RCW 43.320.040, 31.12.516(6), and 2008 c 285. 08-24-057, § 208-418-040, filed 11/26/08, effective 12/31/08. Statutory Authority: RCW 31.12.426(1), 31.12.516(2), 43.320.040. 01-12-004, § 208-418-040, filed 5/23/01, effective 6/23/01. Statutory Authority: 1996 c 274. 96-12-058, § 208-418-040, filed 5/31/96, effective 7/1/96. 96-06-011,


recodified as § 208-418-040, filed 2/23/96, effective 6/1/96. Statutory Authority: RCW 31.12.535 and 31.12.545. 95-06-066, § 419-18-040, filed 2/28/95, effective 3/31/95; 91-06-062, § 419-18-040, filed 3/1/91, effective 4/1/91. Statutory Authority: RCW 31.12.545(1). 85-07-008 (Order 85-2), § 419-18-040, filed 3/8/85. Statutory Authority: RCW 31.12.320. 83-20-027 (Order 83-4), § 419-18-040, filed 9/26/83; 82-13-016 (Order 82-5), § 419-18-040, filed 6/7/82.] WAC 208-418-050 Agency filings affecting this section Pass through of attorney general costs. (1) The director may charge each credit union the actual cost incurred by the division of credit unions for certain legal assistance rendered by an assistant attorney general or special counsel in regard to that credit union. Legal assistance includes legal assistance rendered in connection with: Supervisory committee meetings and board meetings; receiverships, conservatorships, liquidations and declarations of insolvency; enforcement agreements or actions; collection actions; administrative hearings; declaratory orders; and opinions requested by a credit union or the division of credit unions. Charges are due upon receipt of billing from the division. (2) The division will notify a credit union before the division incurs expense for legal assistance which may be charged to the credit union under this section. [Statutory Authority: Chapter 43.135 RCW, RCW 43.320.040, 31.12.516(6), and 2008 c 285. 08-24-057, § 208-418-050, filed 11/26/08, effective 12/31/08. Statutory Authority: RCW 31.12.426(1), 31.12.516(2), 43.320.040. 01-12-004, § 208-418-050, filed 5/23/01, effective 6/23/01. Statutory Authority: 1996 c 274. 96-12-058, § 208-418-050, filed 5/31/96, effective 7/1/96. 96-06-011, recodified as § 208-418-050, filed 2/23/96, effective 6/1/96. Statutory Authority: RCW 31.12.535 and 31.12.545. 95-06-066, § 419-18-050, filed 2/28/95, effective 3/31/95; 91-06-062, § 419-18-050, filed 3/1/91, effective 4/1/91. Statutory Authority: RCW 31.12.320. 83-20-027 (Order 83-4), § 419-18-050, filed 9/26/83.] WAC 208-418-070 Agency filings affecting this section Other fees. (1) The director will charge hourly fees as follows: (a) An hourly fee will be charged to a person other than a credit union or a subsidiary of one or more credit unions for each information systems and technology examination of the person by the division of credit unions. (b) An hourly fee will be charged to a credit union for the examination of the credit union's application to add a community group to its field of membership. (c) An hourly fee will be charged to a credit union for a fraud investigation or examination of the credit union and/or persons involved with the credit union by the division. (d) An hourly fee will be charged to an out-of-state or foreign credit union for examination and supervision by the division under WAC 208-418-040(4). (e) An hourly fee will be charged to an out-of-state or foreign credit union for the examination of the credit union's application to operate a branch in this state. (f) An hourly fee will be charged to other divisions or agencies for examinations, investigations, or similar undertakings performed on their behalf by the division. (g) An hourly fee will be charged for investigation or examination of conversion applications. (h) An hourly fee will be charged for initial and annual examination of alternative share insurers that apply for authorization to do business with Washington state chartered credit unions. (i) An hourly fee will be charged for examination of credit union service organizations and their subsidiaries. (2) In addition, the director will charge a credit union or other person for the actual cost incurred by the division for an examination or investigation of the credit union or person performed under personal services contract by third parties. (3) Charges under this section are due upon receipt of billing from the division.


[Statutory Authority: Chapter 43.135 RCW, RCW 43.320.040, 31.12.516(6), and 2008 c 285. 08-24-057, § 208-418-070, filed 11/26/08, effective 12/31/08. Statutory Authority: RCW 31.12.426(1), 31.12.516(2), 43.320.040. 01-12-004, § 208-418-070, filed 5/23/01, effective 6/23/01. Statutory Authority: 1996 c 274. 96-12-058, § 208-418-070, filed 5/31/96, effective 7/1/96. 96-06-011, recodified as § 208-418-070, filed 2/23/96, effective 6/1/96. Statutory Authority: RCW 31.12.535 and 31.12.545. 95-06-066, § 419-18-070, filed 2/28/95, effective 3/31/95; 91-06-062, § 419-18-070, filed 3/1/91, effective 4/1/91. Statutory Authority: RCW 31.12.545(1). 85-07-008 (Order 85-2), § 419-18-070, filed 3/8/85. Statutory Authority: RCW 31.12.320. 83-20-027 (Order 83-4), § 419-18-070, filed 9/26/83.] WAC 208-418-100 Agency filings affecting this section Waiver of fees. The director may waive any or all of the fees and assessments imposed under WAC 208-418-040 and 208-418-070, in whole or in part, when the director determines that such course of action would be fiscally prudent. [Statutory Authority: Chapter 43.135 RCW, RCW 43.320.040, 31.12.516(6), and 2008 c 285. 08-24-057, § 208-418-100, filed 11/26/08, effective 12/31/08. Statutory Authority: RCW 31.12.426(1), 31.12.516(2), 43.320.040. 01-12-004, § 208-418-100, filed 5/23/01, effective 6/23/01.]

RCW 31.12.402

Powers.

A credit union may:

(4) Impose reasonable charges for the services it provides to its members; (5) Impose financing charges and reasonable late charges in the event of default on loans, subject to applicable law, and recover reasonable costs and expenses, including, but not limited to, collection costs, and reasonable attorneys' fees incurred both before and after judgment, incurred in the collection of sums due, if provided for in the note or agreement signed by the borrower;

West Virginia: §31C-1-8. Assessments. The commissioner of banking shall charge and collect from each credit union and pay into a special revenue account in the state treasury for the department of banking an annual assessment payable on the first day of July computed upon the total assets of the credit union shown on the report of condition of the credit union as of the last business day in December of the previous year as is set out in section eight, article two, chapter thirty-one-a of this code. ARTICLE 8. OTHER MEMBER SERVICES §31C-8-3. Group purchasing. A credit union may enter into marketing arrangements and joint ventures with other credit unions, organizations or financial institutions to facilitate its members' voluntary purchase of goods, insurance and other services from third parties, consistent with the purposes of the credit union. A credit union may be compensated for services so provided. §31C-8-4. Money-type instruments. A credit union may collect, receive and disburse moneys in connection with the providing of negotiable checks, money orders, travelers' checks and other money-type instruments, and the providing of these services through automated teller machines (ATMs) and for such other purposes as may provide benefit or convenience to its members. A credit union may charge fees for such services.

Wisconsin 186.02(1) (1) Incorporation. Seven or more residents of this state may organize a credit union by filing with the office of credit unions the proposed articles of incorporation in duplicate and the proposed bylaws, together with a $100 filing fee. The articles of incorporation shall state the name and purpose of the credit union, the county in which its initial principal office is located and the names and addresses of the incorporators.


186.02(4)(a) (a) Amendments to the articles of incorporation adopted by a vote of two-thirds of the members of the credit union present at an annual meeting or a special meeting called for that purpose may be filed with the office of credit unions upon payment of a $50 fee. If approved by the office of credit unions, amendments to the articles are effective on recording in the office of the register of deeds in the same manner as the original articles 186.02(4)(b) (b) All amendments to the bylaws shall be filed with the office of credit unions and shall be accompanied by the payment of a $50 fee. Amendments to the bylaws shall take effect only after being approved by the office.

Date post:	10-Sep-2020
Category:	Documents
Upload:	others
View:	0 times
Download:	0 times

State Fees Authority AK AL AR AZ CA CO CT DE · 2017. 11. 30. · 1 CUNA STATE GOVERNMENTAL AFFAIRS...

Documents