S.D. Admin. R. 20:07:06:03

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:07:06:03 - Additional examination and supervision fees

Any bank engaged in non-traditional banking services, including credit cards, rent-a-bin agreements, payday lending, or loan syndication, shall pay an additional semiannual fee of one cent per $1,000 on all assets, but not less than $500. Any bank operating under an enforcement action shall pay an additional semiannual fee of one cent per $1,000 of all assets, but not less than $500.

Any bank requiring more than one examination in any calendar year shall pay the actual costs incurred by the division including salaries, travel expenses, and supplies.

A bank has the right to a hearing before the commission for a review of an assessment of additional fees under this section.

S.D. Admin. R. 20:07:06:03

SL 1975, ch 16, § 1; 4 SDR 33, effective 12/19/1977; 12 SDR 151, 12 SDR 155, effective 7/1/1986; 19 SDR 85, effective 12/14/1992; 35 SDR 285, effective 6/9/2009.

General Authority: SDCL 51A-2-13, 51A-2-36.

Law Implemented: SDCL 51A-2-36.