§ 11-40-106 — Annual fees and assessments - fund

Colorado § 11-40-106

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Savings and Loan Association Law

Text

(1) Every domestic savings
and loan association operating in this state shall pay to the division of financial
services such fees for administration, supervision, and examination as the
commissioner may determine sufficient to meet the budget of the division of
financial services as appropriated by the general assembly for the fiscal year
commencing July 1. The fees shall be determined as follows:

(a) At least semiannually, the commissioner shall assess each association,
based on its total assets, to meet the costs of administration, examination, and
supervision by the division for that fiscal year. Such assessments shall be
calculated in terms of cents per thousand dollars of total assets but shall in no case
exceed in total the costs of administration, examination, and supervision by the
division for that fiscal year. The assessment calculation or ratio of the assessment
charged to total assets shall be alike in all cases. On or before the dates specified
by the commissioner, each association shall pay its assessment.

(b) As of July 1 of each year, the commissioner may estimate a per diem rate
to be charged for the examination of each association during the fiscal year. At the
conclusion of its examination, each association shall pay the actual cost of the
examination, if required by the commissioner.

(c) At least semiannually, the commissioner shall assess each state and
federal savings and loan association that has been designated as an eligible public
depository, as defined in section 11-47-103 (6), based on its total public deposits
held, to meet its share of the division's supervisory costs of monitoring compliance
with the provisions of the Savings and Loan Association Public Deposit Protection
Act, article 47 of this title, for that fiscal year. Such assessments shall be
calculated in terms of cents per thousand dollars of total public deposits held. The
assessment calculation, or ratio of the assessment charged to total public deposits
held, shall be alike in all cases. On or before the dates specified by the
commissioner, each association shall pay its assessment.

(d) In the same manner as specified in paragraph (b) of this subsection (1),
the commissioner may charge any state or federal savings and loan association that
has been designated as an eligible public depository, as defined in section 11-47-103 (6), for the actual cost of any examination necessary to assure its compliance
with article 47 of this title.

(2) All fees and collections of every kind shall be transmitted to the state
treasurer, who shall credit the same to the division of financial services cash fund,
which fund is hereby created in the state treasury. All moneys in the fund shall be
subject to appropriation by the general assembly for the direct and indirect costs of
the activities of the division of financial services. All interest derived from the
deposit and investment of moneys in the fund shall be credited to the fund. Any
moneys not appropriated shall remain in the fund and shall not be transferred or
revert to the general fund of the state at the end of any fiscal year.

Legislative History

Source: L. 33: p. 352, � 4. CSA: C. 25, � 72. L. 39: p. 252, � 25. L. 45: p. 240, � 3. L. 47: p. 317, � 2. CRS 53: � 122-1-6. C.R.S. 1963: � 122-1-6. L. 67: p. 892, � 1. L. 81: (1) amended, p. 619, � 1, effective April 30. L. 83: (1)(c) added, p. 487, � 1, effective May 10. L. 84: (1)(d) added, p. 377, � 1, effective May 11. L. 88: IP(1) and (1)(a) amended, p. 455, � 1, effective March 18. L. 89: IP(1) amended, p. 618, � 8, effective July 1. L. 92: (1)(a) and (2) amended, p. 928, � 6, effective February 25. L. 2004: (1)(a)(II) and (1)(a)(III) amended, p. 135, � 12, effective July 1. L. 2005: (1) amended, p. 14, � 1, effective February 23.