NAC: CHAPTER 658 - BANKS: SUPERVISION

[Rev. 9/25/2018 2:01:42 PM]

[NAC-658 Revised Date: 9-18]

CHAPTER 658 - BANKS: SUPERVISION

658.010              Fee for supervision and examination: Collection; determination of amount; failure to pay; additional costs for extraordinary examination.

658.020              Accounting of costs related to audits and examinations.

658.030              Increase or decrease in assessment for costs related to audits and examinations.

658.040              Assessments for auditing financial institutions: “Financial institution” interpreted.

658.050              Fees: Renewal of license for parent bank, branch bank or trust office; application for new branch bank or trust office.

 

 

 

     NAC 658.010  Fee for supervision and examination: Collection; determination of amount; failure to pay; additional costs for extraordinary examination. (NRS 658.096, 658.101, 658.105)

     1.  On or before June 30 of each year, the Commissioner of Financial Institutions will collect a fee from each bank for the supervision and examination of the bank pursuant to chapters 657 to 668, inclusive, of NRS.

     2.  The fee is based on the portion of the annual budget approved by the Legislature for expenses related to the operations of the Commissioner and the Division of Financial Institutions minus all other revenues collected by the Division, not including reserves. Each bank shall pay a share of that amount as determined by the following schedule:

 

Total Assets	Base Fee	+ Fee Exceeding Base
Less than $5,000,000	$5,000	N/A
$5,000,000 or more, but less than $10,000,000	5,000	$.25 per thousand of assets exceeding $5,000,000
$10,000,000 or more, but less than $50,000,000	6,250	$.19 per thousand of assets exceeding $10,000,000
$50,000,000 or more, but less than $100,000,000	13,850	$.12 per thousand of assets exceeding $50,000,000
$100,000,000 or more, but less than $500,000,000	19,850	$.10 per thousand of assets exceeding $100,000,000
$500,000,000 or more, but less than $1,000,000,000	59,850	$.07 per thousand of assets exceeding $500,000,000
$1,000,000,000 or more, but less than $3,000,000,000	94,850	$.05 per thousand of assets exceeding $1,000,000,000
$3,000,000,000 or more, but less than $10,000,000,000	194,850	$.03 per thousand of assets exceeding $3,000,000,000
$10,000,000,000 or more, but less than $20,000,000,000	404,850	$.02 per thousand of assets exceeding $10,000,000,000
$20,000,000,000 or more	604,850	$.01 per thousand of assets exceeding $20,000,000,000

 

Any adjustment to the fee must be made in a proportionate amount that is based on the relationship that the fee determined for each bank bears to the total fee imposed on all banks licensed pursuant to chapters 657 to 668, inclusive, of NRS. The fee is calculated as of June 1 of each year based upon the number of banks and the total assets of each bank as of December 31 of the previous year.

     3.  If the fee is not paid on or before June 30, the Commissioner will assess a penalty of 10 percent of the amount of the fee and an additional 1 percent of the fee for each month or portion of a month that the fee is not paid. The Commissioner may waive the penalty for good cause.

     4.  The fee does not include the cost of any extraordinary examination, audit, investigation or hearing conducted by the Division. The cost of any such examination, audit, investigation or hearing is $75 per hour.

     (Added to NAC by Comm’r of Financial Institutions, eff. 4-20-88; A 6-17-91; R054-16, 9-9-2016)

     NAC 658.020  Accounting of costs related to audits and examinations. (NRS 658.096, 658.101, 658.105)  Each year the Commissioner of Financial Institutions will make an accounting of the costs related to the employment of a certified public accountant and the performance of audits and examinations conducted by the Division. The results of the accounting will be made available to the public.

     (Added to NAC by Comm’r of Financial Institutions, eff. 12-17-87)

     NAC 658.030  Increase or decrease in assessment for costs related to audits and examinations. (NRS 658.096, 658.101, 658.105)  If the Commissioner of Financial Institutions determines that the amount of money collected in any one year to cover the costs related to the employment of a certified public accountant and the performance of audits and examinations conducted by the Division exceeds the amount necessary to cover those costs by more than $2,500, or is deficient by more than $2,500, the Commissioner will increase or decrease the assessments levied for the next year in the following manner:

     1.  If the amount collected exceeds the amount necessary to cover those costs by more than $2,500, the Commissioner will divide the difference by the number of financial institutions required to pay the assessment and subtract that amount from the amount of the assessment levied in the previous year.

     2.  If the amount collected is deficient by more than $2,500, the Commissioner will divide the difference by the number of financial institutions required to pay the assessment and add that amount to the amount of the assessment levied in the previous year.

     (Added to NAC by Comm’r of Financial Institutions, eff. 12-17-87)

     NAC 658.040  Assessments for auditing financial institutions: “Financial institution” interpreted. (NRS 658.105)  The Commissioner of Financial Institutions interprets the term “financial institution” as used in NRS 658.055 to have the meaning ascribed to it in NRS 232.545.

     (Added to NAC by Comm’r of Financial Institutions by R150-05, eff. 12-29-2005)

     NAC 658.050  Fees: Renewal of license for parent bank, branch bank or trust office; application for new branch bank or trust office. (NRS 658.096, 658.105)

     1.  On or before June 30 of each year, each licensed bank shall pay to the Division of Financial Institutions of the Department of Business and Industry:

     (a) A fee of $300 for the renewal of the license of each parent bank pursuant to NRS 658.096.

     (b) A fee of $150 for the renewal of the license of each branch bank or trust office pursuant to NRS 658.096.

     2.  An application for a new branch bank or trust office submitted pursuant to NRS 658.096 must be accompanied by a fee of $300.

     (Added to NAC by Comm’r of Financial Institutions by R109-06, eff. 6-28-2006)