                                 CODE OF VIRGINIA

FEES FOR SUPERVISION AND REGULATION; INVESTIGATIONS (§ 6.2-1202)

A. For the purpose of defraying the expenses of supervision and regulation of
state savings institutions and foreign savings institutions doing business in
the Commonwealth, the Commission shall, on or before July 1 of each year, assess
against every such savings institution fees in accordance with a schedule to be
set by the Commission. Such schedule shall bear a reasonable relationship to the
total assets of various individual savings institutions and to the costs of
their respective supervision, regulation, and examination.

B. All fees so assessed shall be paid into the state treasury on or before July
31 following. The Commission shall mail the assessments to each association on
or before July 1 of each year.

C. The Commission shall charge a fee:

   1. Of $1,800 for investigating an application for authority to establish a
   branch, if the branch is to be located within the Commonwealth;

   2. As prescribed by the Commission for investigating an application for
   authority to establish a branch if the branch is to be located outside the
   Commonwealth;

   3. Of $1,000 for investigating an application for authority to change the
   location of an existing main office or branch office;

   4. Of $10,000 for investigating an application for a certificate of authority
   in the case of a state association;

   5. As prescribed by the Commission for investigating an application for a
   certificate of authority in the case of a foreign savings institution;

   6. Of $7,500 for investigating an application for merger or consolidation;

   7. Of $2,000 for investigating an application for authority to exercise trust
   powers if such powers are to be exercised through a trust department;

   8. Of $10,000 for investigating an application for authority to exercise trust
   powers if such powers are to be exercised through a trust affiliate or
   subsidiary;

   9. Of $5,000 for investigating an application to convert from a state
   association to a state savings bank pursuant to subsection B of &#xA7;
   6.2-1143 or from a state bank to a state savings bank pursuant to &#xA7;
   6.2-829; and

   10. Of $10,000 for investigating an application for a conversion other than a
   conversion from a state association or state bank to a state savings bank as
   provided in subdivision 9.

D. The Commission shall not be entitled to any fees other than as provided in
subdivision C 6 for investigating any application to retain existing branches of
the applying savings institution as branches of the merged or consolidated
institutions. The fee prescribed in subdivision C 6 may be waived by the
Commission in the case of supervisory mergers or consolidations made pursuant to
&#xA7; 6.2-1205.

E. Notwithstanding the designation of the several fees set forth in subsection
C, the Commission may reduce by regulation or order any such fee or fees, if the
Commission concludes that there is a reasonable basis for doing so and that the
reduction of the fee will not be detrimental to the effectiveness of the Bureau.

HISTORY: Code 1950, § 6-201.55; 1960, c. 402; 1966, c. 584, § 6.1-185; 1972,
c. 796, § 6.1-195.65; 1974, c. 181; 1976, c. 658; 1982, c. 455; 1984, c. 344;
1985, c. 425, § 6.1-194.85; 1986, c. 122; 1987, c. 172; 1988, c. 5; 1991, c.
230, § 6.1-194.149; 1992, c. 283; 1994, c. 331; 1998, c. 19; 2010, c. 794.