§ 28-11-3-5 — Schedule of fees; classification of assets; changes or modifications of fees; excess costs of examinations

Indiana § 28-11-3-5

• Jurisdiction: Indiana
• Art. 11: DEPARTMENT OF FINANCIAL INSTITUTIONS
• Ch. 3: Supervision of Financial Institutions

Text

(a) As used in this section, "assets" means the
assets of a financial institution as disclosed by a report made by the
financial institution at the end of the year immediately preceding the
fiscal year in which a fee is fixed under this section.
(b) The department shall fix and collect, on an annual basis, a
schedule of fees for the services rendered and the duties performed by
the department in the administration of financial institutions.
(c) The fees may not exceed the comparative cost to the department
in the administration of financial institutions. In determining the costs,
the department may classify the assets of financial institutions and fix
fees at different rates for the examination, supervision, regulation, and
liquidation of the classes of assets, based on the proportionate cost and
expense incurred by the department in making examinations and in the
administration of financial institutions.
(d) The fees shall be charged and collected until changed or
modified by the department. A change or modification of fees may not
be adopted more often than one (1) time each state fiscal year. A
modified schedule of fees is effective on the first day of the state fiscal
year following the fiscal year in which the modification is adopted.
(e) Administrative charges included in the fee are in addition to
charges collected under other statutes.
(f) If the reasonable costs of performing an examination of a
financial institution exceed the fees established under this section, the
financial institution shall pay the excess costs not later than thirty (30)
days after receipt of an invoice from the department. The department
may impose a fee, in an amount fixed by the department under this
section, for each day that the excess costs are not paid, beginning on
the first day after the thirty (30) day period described in this subsection.

Legislative History

As added by P.L.33-1991, SEC.56. Amended by P.L.10-2006, SEC.73 and P.L.57-2006, SEC.73; P.L.35-2010, SEC.197.