Nac: Chapter 658 - Banks: Supervision

Link to law: http://www.leg.state.nv.us/nac/NAC-658.html
Published: 2015

[Rev. 11/22/2013 10:19:35

AM--2013]



[NAC-658 Revised Date: 8-06]

CHAPTER 658 - BANKS: SUPERVISION

658.010            Fee for supervision and

examination: Collection; determination of amount; failure to pay; additional

costs.

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. (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 appropriation from the State General Fund to the Division of Financial

Institutions that is attributable to the supervision and examination of banks.

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





 

Any adjustment to the fee required to account for the

distribution of unused portions of or increases in the annual appropriation

from the State General Fund must be made in a proportionate amount that is

based on the relationship that the fee determined for each bank pursuant to

paragraph (a) bears to the total fee imposed on all banks licensed pursuant to chapters 657 to 668, inclusive, of NRS.

     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 $60 per hour.

     (Added to NAC by Comm’r of Financial Institutions, eff.

4-20-88; A 6-17-91)

      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)
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