361.170. Expenses of examination, how paid--salary schedule for division employees to be maintained--division of finance fund, created, uses, transfers to general revenue fund, when. - Missouri Statutes

Expenses of examination, how paid--salary schedule for divisionemployees to be maintained--division of finance fund, created,uses, transfers to general revenue fund, when.

361.170. 1. The expense of every regular and every specialexamination, together with the expense of administering the banking laws,including salaries, travel expenses, supplies and equipment, and includingthe direct and indirect expenses for rent and other supporting servicesfurnished by the state, shall be paid by the banks and trust companies ofthe state, and for this purpose the director shall, prior to the beginningof each fiscal year, make an estimate of the expenses to be incurred by thedivision during such fiscal year. To this there shall be added an amountnot to exceed fifteen percent of the estimated expenses to pay the costs ofrent and other supporting services such as the costs related to thedivision's services from the state auditor and attorney general and anamount sufficient to cover the cost of fringe benefits furnished by thestate. From this total amount the director shall deduct the estimatedamount of the anticipated annual income to the fund from all sources otherthan bank or trust company assessments. The director shall allocate andassess the remainder to the several banks and trust companies in the stateon the basis of a weighted formula to be established by the director, whichwill take into consideration their total assets, as reflected in the lastpreceding report called for by the director pursuant to the provisions ofsection 361.130 or from information obtained pursuant to subsection 3 ofsection 361.130 and, for trust companies which do not take deposits or makeloans, the volume of their trust business, and the relative cost, insalaries and expenses, of examining banks and trust companies of varioussize and this calculation shall result in an assessment for each bank andtrust company which reasonably represents the costs of the division offinance incurred with respect to such bank or trust company. A statementof such assessment shall be sent by the director to each bank and trustcompany on or before July first. One-half of the amount so assessed toeach bank or trust company shall be paid by it to the state director of thedepartment of revenue on or before July fifteenth, and the remainder shallbe paid on or before January fifteenth of the next year.

2. Any expenses incurred or services performed on account of anybank, trust company or other corporation subject to the provisions of thischapter, outside of the normal expense of any annual or specialexamination, shall be charged to and paid by the corporation for whom theywere incurred or performed. Fees and charges to other corporations subjectto this chapter shall be reviewed at least annually by the division offinance to determine whether regulatory costs are offset by the fees andcharges and the director of the division of finance shall revise fees andcharges to fully recover such costs to the extent allowed by law orrecommend to the general assembly necessary statutory changes to fullyrecover such costs.

3. The director of the division of finance shall prepare and maintainan equitable salary schedule for examiners, professional staff, and supportpersonnel that are employees of the division. Personnel employed by thedivision shall be compensated according to the following schedule, providedthat such expense of administering the banking laws is assessed and paid inaccordance with this section. The positions and classification plan forsuch personnel attributed to the examination of the state bank and trustcompanies shall allow for a comparison of such positions with similar bankexaminer positions at federal bank regulatory agencies. State bankexaminer positions shall not be compensated at more than ninety percent ofparity for corresponding federal positions for similar geographic locationsin the state as determined by the director of the division of finance.

4. The state treasurer shall credit such payments to a special fundto be known as the "Division of Finance Fund", which is hereby created andwhich shall be devoted solely to the payment of expenditures actuallyincurred by the division and attributable to the regulation of banks, trustcompanies, and other corporations subject to the jurisdiction of thedivision. Any amount, other than the amount not to exceed fifteen percentfor supporting services and the amount of fringe benefits described insubsection 1 of this section, remaining in such fund at the end of anyfiscal year and any earnings attributed to such fund shall not betransferred and placed to the credit of the general revenue fund asprovided in section 33.080, RSMo, but shall be applicable by appropriationof the general assembly to the payment of such expenditures of the divisionin the succeeding fiscal year and shall be applied by the division to thereduction of the amount to be assessed to banks and trust companies in suchsucceeding fiscal year; provided the amount not to exceed fifteen percentfor supporting services and the amount of fringe benefits described insubsection 1 of this section shall be returned to general revenue to theextent supporting services are not directly allocated to the fund.

(RSMo 1939 § 7895, A. 1949 H.B. 2084, A.L. 1951 p. 283, A.L. 1955 p. 262, A.L. 1959 H.B. 322, A.L. 1963 p. 447, A.L. 1967 p. 445, A.L. 1986 H.B. 1195, A.L. 1991 H.B. 516, A.L. 1997 H.B. 257, A.L. 2003 H.B. 221 merged with S.B. 346, A.L. 2005 H.B. 379)

Prior revisions: 1929 § 5301; 1919 § 11689; 1909 § 1080

*This section was amended by both H.B. 379 and S.B. 318 during the First Regular Session of the 93rd General Assembly, 2005. Due to possible conflict, both versions are printed here.

Expenses of examination, how paid, equitable salary schedule to bemaintained--division of finance fund, created, uses, transfers togeneral revenue fund, when.

361.170. 1. The expense of every regular and every specialexamination, together with the expense of administering the banking laws,including salaries, travel expenses, supplies and equipment, and includingthe direct and indirect expenses for rent and other supporting servicesfurnished by the state, shall be paid by the banks and trust companies ofthe state, and for this purpose the director shall, prior to the beginningof each fiscal year, make an estimate of the expenses to be incurred by thedivision during such fiscal year. To this there shall be added an amountnot to exceed fifteen percent of the estimated expenses to pay the costs ofrent and other supporting services such as the costs related to thedivision's services from the state auditor and attorney general and anamount sufficient to cover the cost of fringe benefits furnished by thestate. From this total amount the director shall deduct the estimatedamount of the anticipated annual income to the fund from all sources otherthan bank or trust company assessments. The director shall allocate andassess the remainder to the several banks and trust companies in the stateon the basis of a weighted formula to be established by the director, whichwill take into consideration their total assets, as reflected in the lastpreceding report called for by the director pursuant to the provisions ofsection 361.130 or from information obtained pursuant to subsection 3 ofsection 361.130 and, for trust companies which do not take deposits or makeloans, the volume of their trust business, and the relative cost, insalaries and expenses, of examining banks and trust companies of varioussize and this calculation shall result in an assessment for each bank andtrust company which reasonably represents the costs of the division offinance incurred with respect to such bank or trust company. A statementof such assessment shall be sent by the director to each bank and trustcompany on or before July first. One-half of the amount so assessed toeach bank or trust company shall be paid by it to the state director of thedepartment of revenue on or before July fifteenth, and the remainder shallbe paid on or before January fifteenth of the next year.

2. Any expenses incurred or services performed on account of anybank, trust company or other corporation subject to the provisions of thischapter, outside of the normal expense of any annual or specialexamination, shall be charged to and paid by the corporation for whom theywere incurred or performed. Fees and charges to other corporations subjectto this chapter should be reviewed at least annually by the division offinance to determine whether regulatory costs are offset by the fees andcharges, and the director of the division of finance shall revise fees andcharges to fully recover these costs.

3. The director of the division of finance shall prepare and maintainan equitable salary schedule for examiners, professional staff, and supportpersonnel who are employees of the division. Personnel employed by thedivision shall be compensated according to this schedule, provided thatsuch expense of administering the banking laws is assessed and paid inaccordance with this section. The positions and classification plan forsuch personnel attributed to the examination of the state bank and trustcompanies shall allow for a comparison of such positions with similar bankexaminer positions at federal bank regulatory agencies. State bankexaminer positions shall not be compensated more than ninety percent ofparity for corresponding federal positions for similar geographic locationsin Missouri as determined by the director of the division of finance.

4. The state treasurer shall credit such payments to a special fundto be known as the "Division of Finance Fund", which is hereby created andwhich shall be devoted solely to the payment of expenditures actuallyincurred by the division and attributable to the regulation of banks, trustcompanies, and other corporations subject to the jurisdiction of thedivision. Any amount, other than the amount not to exceed fifteen percentfor supporting services and the amount of fringe benefits described insubsection 1 of this section, remaining in such fund at the end of anyfiscal year and any earnings attributed to such fund shall not betransferred and placed to the credit of the general revenue fund asprovided in section 33.080, RSMo, but shall be applicable by appropriationof the general assembly to the payment of such expenditures of the divisionin the succeeding fiscal year and shall be applied by the division to thereduction of the amount to be assessed to banks and trust companies in suchsucceeding fiscal year; provided the amount not to exceed fifteen percentfor supporting services and the amount of fringe benefits described insubsection 1 of this section shall be returned to general revenue to theextent supporting services are not directly allocated to the fund.

(RSMo 1939 § 7895, A. 1949 H.B. 2084, A.L. 1951 p. 283, A.L. 1955 p. 262, A.L. 1959 H.B. 322, A.L. 1963 p. 447, A.L. 1967 p. 445, A.L. 1986 H.B. 1195, A.L. 1991 H.B. 516, A.L. 1997 H.B. 257, A.L. 2003 H.B. 221 merged with S.B. 346, A.L. 2005 S.B. 318)

Prior revisions: 1929 § 5301; 1919 § 11689; 1909 § 1080

*This section was amended by both H.B. 379 and S.B. 318 during the First Regular Session of the 93rd General Assembly, 2005. Due to possible conflict, both versions are printed here.