Section 14351 - Amount of annual assessment(a) The amount of the annual assessment on any credit union holding a certificate authorizing it to act as a credit union shall be the greater of (1) two thousand dollars ($2,000) or (2) the sum of the products determined by multiplying (A) increments of the credit union's total assets by (B) percentages of the base assessment rate, according to the following table: Percentage of Base Assessment Rate | Total Assets |
$0-$3,000,000 | 85.0% |
$3,000,000-$6,000,000 | 25.0% |
$6,000,000-$10,000,000 | 13.0% |
$10,000,000-$100,000,000 | 12.5% |
$100,000,000-$500,000,000 | 12.25% |
$500,000,000-$1,000,000,000 | 12.0% |
$1,000,000,000-$2,000,000,000 | 11.5% |
$2,000,000,000-$5,000,000,000 | 8.0% |
$5,000,000,000-$10,000,000,000 | 3.5% |
Excess over $10,000,000,000 | 3.0% |
(b) The base assessment rate for each annual assessment shall be fixed by the commissioner but shall not exceed two dollars and twenty cents ($2.20) per one thousand dollars ($1,000) of total assets.Amended by Stats 2013 ch 115 (AB 1282),s 1, eff. 1/1/2014.