Nev. Admin. Code § 678.150

Current through October 11, 2024

Section 678.150 - Fee for supervision and examination: Collection; determination of amount; failure to pay; penalty; additional costs

1. On or before June 30 of each year, the Commissioner will collect a fee from each credit union for the supervision and examination of the credit union pursuant to chapter 672 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 minus all other revenues collected by the Division, not including reserves. Each credit union 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 credit union bears to the total fee imposed on all credit unions licensed pursuant to chapter 672 of NRS. The fee is calculated as of June 1 of each year based upon the number of credit unions and the total assets of each credit union 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.

Nev. Admin. Code § 678.150

Comm'r of Credit Unions, § A subsecs. 6 & 7, eff. 8-12-76; + § B subsec. 2, eff. 12-14-78-NAC A by Admstr. of Financial Institutions, eff. 6-29-84; A by Comm'r of Financial Institutions, 4-20-88; 6-17-91; R002-00, 3-13-2000; A by R054-16A, eff. 9/9/2016; A by R098-23A, eff. 6/6/2024

NRS 672.250 and 672.270