Section 24 Assessment - Massachusetts Statutes

Section 24. The commissioner of banks shall make an assessment in each fiscal year equally against all electronic branches established and operated under the provisions of this chapter. Said assessments shall be made at a rate as shall be determined annually by the commissioner as sufficient to produce revenue to reimburse the commonwealth for all costs and expenses incurred by the division of banks for such fiscal year in meeting the requirements imposed under this chapter, including, without limitation, costs and expenses incurred in examining financial institutions and organizations in their operation and use of electronic branches, in supervising the establishment and operation of electronic branches, in hiring personnel, acquiring additional equipment and such other costs and expenses determined by the commissioner as reasonable and necessary to meet such requirements.

The owner or lessor of each electronic branch shall pay the assessment in a manner determined by the commissioner.