§ 45-3-1504 — Mutual savings and loan holding companies and their subsidiaries - Reports - Examination - Fees

With respect to each mutual savings and loan holding company and each subsidiary of the holding company, the following shall apply: (1) Each mutual savings and loan holding company and each subsidiary of the holding company shall file with the commissioner reports required by the commissioner. The reports shall be in the form that the commissioner prescribes. Each report shall contain information concerning the operations of each mutual savings and loan holding company and subsidiary that the commissioner may require; (2) Each mutual savings and loan holding company shall maintain books and records prescribed by the commissioner; (3) Each mutual savings and loan holding company and each subsidiary of the holding company shall be subject to examination that the commissioner prescribes; (4) Each mutual savings and loan holding company under this part may engage in activities that the commissioner by regulation may establish not inconsistent with any applicable federal law; (5) Each mutual savings and loan holding company operating under this part shall pay and be assessed by the commissioner fees and charges as may be necessary to cover the cost of its examination and supervision under this part; and (6) The commissioner is empowered to promulgate reasonable rules and regulations in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, for the purpose of establishing fees to support the registration, examination, and supervision of companies under this part, including fees for the costs of application and issuance of a charter.

Legislative History

Acts 1989, ch. 354, § 4.