§ 23-46-509 - Assessment fees, application fees, and other department fees. - Arkansas Statutes

23-46-509. Assessment fees, application fees, and other department fees.

(a) Every state bank and subsidiary trust company shall pay to the State Bank Department, within ten (10) days after notice from the Bank Commissioner in the months of January and July of each year, an assessment fee which will be charged in accordance with an assessment fee schedule approved by the commissioner.

(b) The commissioner, with the approval of the State Banking Board, shall also have the authority to establish a schedule of fees to be charged by the department relative to applications which are reviewed by the department, as well as a schedule of other fees to be charged for service performed by the department.

(c) For each examination made in excess of two (2) per year, the state bank or subsidiary trust company so examined shall pay an additional assessment equal to the January assessment of the year in which the excess examination is made.

(d) (1) The assessments provided for in this section may be reduced by the commissioner if the assessments, with other fees received by the department, produce a greater sum than is required to pay the expenses of the department.

(2) The assessments may be increased if not sufficient in connection with other fees received as aforesaid to defray the expenses of the department.