HB0262 - Financial institutions-deposit of regulatory fees.
|
2001 |
State of Wyoming |
01LSO-0478 |
HOUSE BILL NO. HB0262
Financial institutions-deposit of regulatory fees.
Sponsored by: Representative(s) Law and Senator(s) Hawks
A BILL
for
1 AN ACT relating to
financial institutions; providing that
2 certain
funds are to be deposited into the financial
3
institutions administration account within the earmarked
4
revenue fund as specified; providing for administering the
5
Uniform Consumer Credit Code; modifying certain fees;
6
providing for the deposit of fees under the consumer rental
7
purchase agreement act; and providing for an effective
8
date.
9
10 Be It Enacted by the Legislature of the State of Wyoming:
11
12 Section 1. W.S. 13-11-101 is created to read:
13
14 CHAPTER 11
15 DEPOSIT OF FUNDS
16
17 13-11-101. Deposit of funds.
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1
2 All fees, costs,
compensation and expenses of any type
3
provided for under this title, or any rule promulgated
4
under authority granted under this title, required to be
5
paid to the state banking commissioner and not otherwise
6
designated for deposit shall be deposited by the state
7
banking commissioner with the state treasurer and credited
8
to the financial institutions administration account within
9
the earmarked revenue fund.
10
11 Section 2. W.S. 13-2-208,
13-2-210(b), 13-2-212(c),
12 13-2-702(e), 13-4-101(a), 13-4-104(b),
13-4-306(b),
13 13-4-702, 13-8-103(a), 13-8-105(a),
13-8-107,
14 13-9-309(a)(i), 40-14-632(b) and (c)
and 40-19-114(c) are
15 amended to read:
16
17 13-2-208. Application filing fee.
18
19 The application filed with the state banking
commissioner
20 shall be accompanied by a fee of fifteen
thousand dollars
21 ($15,000.00) to cover the expense of the
investigation by
22 the state banking commissioner, the expense
of the public
23 hearing and other related expenses. The fee
shall be
24 deposited by the state banking commissioner
with the state
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1
treasurer into an the financial institutions administration
2
account within the earmarked revenue fund. Expenditures
3
shall be made from the account by warrants drawn by the
4
state auditor, upon vouchers issued and signed by the
5
director or commissioner. Funds from the account shall be
6
expended only to carry out the duties of the commissioner
7 and
the state banking board under this article and for
8
chartering trust companies under chapter 5 of this title.
9 If
an application for a financial institution charter is
10 withdrawn by the applicant at any time prior
to the hearing
11 on the application, the statutory
application filing fee,
12 less the amount of any expense authorized
above and
13 actually incurred, shall be refunded to the
applicant. If
14 the application expenses are less than
fifteen thousand
15 dollars ($15,000.00) the unexpended amount
shall revert to
the general fund
remain within the account in the
earmarked
17 revenue fund.
18
19 13-2-210. Emergency charters; fees.
20
21 (b) Except as otherwise provided by this subsection,
23 thousand dollars ($4,000.00). The fee shall
be deposited by
24 the state banking commissioner with the
state treasurer and
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1
credited to the financial institutions administration
2
account within the earmarked revenue fund. Expenditures
3
shall be made from the account by warrants drawn by the
4
state auditor, upon vouchers issued and signed by the
5
director or commissioner. Funds from the account shall be
6
expended to carry out the duties of the commissioner or the
7
state banking board. For an applicant with a
total asset
base exceeding three hundred million dollars
($300,000,000.00), if the expenses of the application
process exceed
four thousand dollars ($4,000.00) the
applicant shall
reimburse the commissioner the excess
amount. If the
application expenses are less than four
thousand dollars
($4,000.00) the unexpended amount shall
revert to the
general fund.
15
16 13-2-212. Approval or disapproval of
application;
17 criteria for approval; action upon application; interim
18 bank charter; fee.
19
20 (c) The board
may waive the public hearing required
21 under W.S. 13-2-207 if the application is
for an interim
22 bank charter to be used as a vehicle for
merger with an
23 existing bank which is currently serving the
public need
24 and convenience of the community, operating
profitably,
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1
adequately capitalized, has officers and directors of
2
proven ability and is to be chartered solely for the
3
purpose of facilitating the merger and the change in
4
ownership of the existing bank in accordance with W.S.
5 13-4-108.
Except as otherwise provided by this subsection,
7 public
hearing is waived is four thousand dollars
8 ($4,000.00).
The fee shall be deposited by the state
9 banking
commissioner with the state treasurer and credited
10 to the financial institutions administration
account within
11 the earmarked revenue fund. Expenditures
shall be made from
12 the account by warrants drawn by the state
auditor, upon
13 vouchers issued and signed by the director or
commissioner.
14 Funds from the account shall be expended
only to carry out
15 the duties of the commissioner or the state
banking board.
For an applicant
with a total asset base exceeding three
hundred million
dollars ($300,000,000.00), if the expenses
of the
application process exceed four thousand dollars
($4,000.00) the
applicant shall reimburse the commissioner
the excess
amount. If the application expenses are less
than four
thousand dollars ($4,000.00) the unexpended
amount shall
revert to the general fund.
23
Page 5
1 13-2-702. Authorization; application;
fee;
2 activities; examination;
criteria.
3
4 (e) The
application fee provided by subsection (b) of
5
this section shall be deposited by the state banking
6
commissioner with the state treasurer and credited to the
7
financial institutions administration account within the
8
earmarked revenue fund. Expenditures shall be made from the
9
account by warrants drawn by the state auditor, upon
10 vouchers issued and signed by the director
or commissioner.
11 Funds from the account shall be expended
only to carry out
12 the duties of the commissioner or the state
banking board.
13 If the application expenses are less than
the amount of the
14 fee, the unexpended amount shall revert to the general fund
16
17 13-4-101. Change in place of business.
18
19 (a) Any bank
may apply in writing to the state
20 banking commissioner for permission to
change its place of
21 business to any other municipality in the
state. Except as
otherwise
provided in this subsection, The
application
23 shall be accompanied by a fee of two
thousand five hundred
24 dollars ($2,500.00) and shall state the
reasons for the
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1
proposed change, be signed by a majority of its board of
2
directors and accompanied by the written assent to the
3
application by the stockholders owning at least two-thirds
4
(2/3) of its stock. The application fee shall be deposited
5 by
the state banking commissioner with the state treasurer
6 and
credited to the financial institutions administration
7
account within the earmarked revenue fund. Expenditures
8
shall be made from the account by warrants drawn by the
9
state auditor, upon vouchers issued and signed by the
10 director or commissioner. Funds from the
account shall be
11 expended only to carry out the duties of the
commissioner
12 or the state banking board. For an applicant with a total
asset base
exceeding three hundred million dollars
($300,000,000.00),
if the expenses of the application
process exceed
the amount of the fee, the applicant shall
reimburse the
commissioner the excess amount. If the
application
expenses are less than the amount of the fee,
the unexpended
amount shall revert to the general fund.
19
20 13-4-104. Merger or conversion into
state bank;
21 branch banking by merger or consolidation; application
22 fees.
23
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1 (b) Any state
or national bank that consolidates or
2
merges in accordance with subsection (a) of this section
3 may
upon the completion of the consolidation or merger
4
retain, operate and maintain the banking houses or offices
5 of
the merged or consolidated entities and provide other
6
services or functions as would be permitted had the
7
consolidation or merger not occurred. When a merger or
8
consolidation application from a state bank results in
9
maintaining the merged banking house or office as a branch,
10 the application for merger shall be
accompanied by an
11 application fee of two thousand five hundred
dollars
12 ($2,500.00)., except as otherwise provided in this
subsection.
For each additional bank being merged into the
14 same bank, the application fee shall be
increased by one
15 thousand two hundred fifty dollars
($1,250.00).,
except as
otherwise
provided in this subsection. All fees shall be
17 deposited by the state banking commissioner
with the state
18 treasurer and credited to the financial
institutions
19 administration account within the earmarked
revenue fund.
20 Expenditures shall be made from the account
by warrants
21 drawn by the state auditor, upon vouchers
issued and signed
22 by the director or commissioner. Funds from
the account
23 shall be expended only to carry out the
duties of the
24 commissioner or the state banking board. For an applicant
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1 with a total asset base exceeding three hundred million
dollars ($300,000,000.00), if the
expenses of the
application process exceed the amount
of the fee, the
applicant shall reimburse the
commissioner the excess
amount. If the application expenses
are less than the
amount of the fee, the unexpended
amount shall revert to
the general fund.
8
9 13-4-306. When bank permitted to continue business.
10
11 (b) The bank
when permitted to continue business
12 shall pay all expenses of the state banking
commissioner in
13 taking charge of the bank and looking after
its affairs
14 while under his control including a per diem
of ten dollars
15 ($10.00). to be deposited in the state general fund.
16
17 13-4-702. Assets discovered after liquidation.
18
19 If assets are discovered after the
liquidation proceeding
20 has closed and in the opinion of the state
banking
21 commissioner the cost of distributing the
assets would
22 prevent the payment of a dividend exceeding
one-half of one
23 percent (0.5%), the assets shall be
converted into money
Page 9
1 and
paid into the general fund of the state of Wyoming to
2 the commissioner.
3
4 13-8-103. Certificate of admission.
5
6 (a) An
association shall not conduct any business in
7 the
state except upon written statement by the state
8
banking commissioner, which shall be filed and preserved in
9 his
office, to the effect that the association is solvent
10 and conducting its affairs compatible with
prudent business
11 principles. When a statement is made, the
state banking
12 board may issue a certificate of admission
to the
13 association upon the payment to the state
banking
14 commissioner of fifty dollars ($50.00)., which shall be
credited to the
general fund.
16
17 13-8-105. Statement to be renewed
annually or as
18 required.
19
20 (a) The
statements required of foreign associations
21 shall be renewed annually by March 1 as of
the preceding
22 December 31 and shall be made at other times
as the state
23 banking commissioner may require. Foreign
associations
24 shall pay to the state banking commissioner
upon filing
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1
each annual statement a fee of ten dollars ($10.00)., to be
placed in the general fund.
3
4 13-8-107. Licensing of agents,
solicitors and
5 salesmen.
6
7
Each agent, solicitor or salesman, before transacting or
8
soliciting any business in this state for any association,
9
shall procure annually from the state banking commissioner
10 a license as agent, solicitor or salesman
for which a fee
11 of two dollars ($2.00) for each license
shall be collected
12 and credited to
the general fund paid to the commissioner.
13 A license expires on June 30 of each year
and is subject to
14 revocation by the state banking commissioner
for improper
15 business or conduct.
16
17 13-9-309. Required application; fees.
18
19 (a) A company
that proposes to make an acquisition
20 under this article shall:
21
22 (i) Pay to the
commissioner an application fee
23 of four thousand five hundred dollars
($4,500.00);.
An
applicant with a
total asset base exceeding three hundred
Page 11
1 million dollars ($300,000,000.00), shall also reimburse the
commissioner for the excess expenses
if the expenses of the
application process exceed four
thousand five hundred
dollars ($4,500.00);
5
6 40-14-632. Fees.
7
8 (b) Persons
required to file notification who are
9
sellers, lessors or lenders shall pay an additional fee at
10 the time and in the manner stated in
subsection (a) of this
11 section of twenty-five dollars ($25.00) for
each one
12 hundred thousand dollars ($100,000.00), or
part thereof, in
13 excess of one hundred thousand dollars ($100,000.00),
of
14 the original unpaid balances arising from
consumer credit
15 sales, consumer leases and consumer loans
made in this
16 state within the preceding calendar year and
held either by
17 the seller, lessor or lender for more than
thirty (30) days
18 after the inception of the sale, lease or
loan giving rise
19 to the obligations, or by an assignee who
has not filed
20 notification. A refinancing of a sale, lease
or loan
21 resulting in an increase in the amount of an
obligation is
22 considered a new sale, lease or loan to the
extent of the
23 amount of the increase. The administrator
may by rule
24 increase this fee to an amount not greater
than thirty-five
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1
dollars ($35.00) per one hundred thousand dollars
2
($100,000.00), or part thereof, in excess of one hundred
3
thousand dollars ($100,000.00) of the original unpaid
4
balances if he determines that an increase is necessary to
5 equal the general fund appropriation for the cover the cost
6 of administration of this act.
7
8 (c) Persons
required to file notification who are
9
assignees shall pay an additional fee at the time and in
10 the manner stated in subsection (a) of this
section of
11 twenty-five dollars ($25.00) for each one
hundred thousand
12 dollars ($100,000.00), or part thereof, of
the unpaid
13 balances at the time of the assignment of
obligations
14 arising from consumer credit sales, consumer
leases and
15 consumer loans made in this state taken by
assignment
16 during the preceding calendar year, but an
assignee need
17 not pay a fee with respect to an obligation
on which the
18 assignor or other person has already paid a
fee. The
19 administrator may by rule increase this fee
to an amount
20 not greater than thirty-five dollars
($35.00) per one
21 hundred thousand dollars ($100,000.00), or
part thereof, in
22 excess of one hundred thousand dollars
($100,000.00) if he
23 determines that an increase is necessary to equal the
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1 general fund appropriation for the cover the cost of
2
administration of this act.
3
4 40-19-114. License required;
application for license;
5 fee; qualifications.
6
7 (c) The
application for one (1) or more licenses
8
shall be accompanied by a processing fee not to exceed five
9
hundred dollars ($500.00) set by rule of the administrator.
10 The fee shall be
deposited by the administrator with the
11 state treasurer
and credited to the financial institutions
12 administration
account within the earmarked revenue fund.
13 Funds from the
account shall be expended to carry out the
14 duties of the
administrator. If the expenses of the
15 investigation and evaluation exceed the
amount of the fee,
16 the applicant shall reimburse the administrator
the excess
17 amount. If the expenses of the investigation
and evaluation
18 are less than the amount of the fee, the
unexpended amount
19 shall be
deposited in the general fund remain
within the
20 account within
the earmarked revenue fund. If an
21 application is withdrawn by the applicant at
any time prior
22 to the completion of the investigation and
evaluation, the
23 unexpended amount shall be deposited in the general fund
Page 14
1 remain within the account within the earmarked revenue
2 fund.
3
4 Section 3. W.S. 13-7-603(c) is repealed.
5
6 Section 4. This act is effective July 1, 2001.
7
8 (END)
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