CHAPTER 20:07:06
BANK EXAMINATIONS
Section
20:07:06:01 Examination fee schedule.
20:07:06:01.02 Reduced examination fee schedule.
20:07:06:02 Remittance.
20:07:06:03 Additional examination and supervision fees.
20:07:06:01. Examination
fee schedule. State-chartered banks shall pay a semiannual fee for
examinations on total assets reported on the report of condition for June and
December at the following rates:
(1) Five
and one-half cents per $1,000 of assets up to and including $100,000,000; plus
(2) Five
and one-quarter cents per $1,000 of assets over $100,000,000 up to and
including $300,000,000; plus
(3) Five
cents per $1,000 of assets over $300,000,000 up to and including $500,000,000;
plus
(4) Four
and three-quarters cents per $1,000 of all assets over $500,000,000 up to and
including $1,000,000,000; plus
(5) One cent per $1,000 of assets over $1,000,000,000.
Non-depository
banks shall be assessed an additional semiannual fee of $500.
The
division shall maintain on its website a fee calculator to be used for the
purpose of calculating the semi-annual examination fee owed by each bank. The
formulas used to operate the fee calculator shall be available upon request.
Source: SL 1975, ch 16, § 1; 4 SDR
33, effective December 19, 1977; 12 SDR 151, 12 SDR 155, effective July 1,
1986; 14 SDR 46, effective September 28, 1987; 19 SDR 85, effective December
14, 1992; 21 SDR 111, effective December 22, 1994; 22 SDR 133, effective April
24, 1996; 23 SDR 151, effective April 1, 1997; 24 SDR 119, effective March 29,
1998; 26 SDR 6, effective July 26, 1999; 29 SDR 182, effective July 6, 2003; 31
SDR 165, effective May 11, 2005; 33 SDR 212, effective June 6, 2007; 35 SDR
285, effective June 9, 2009.
General Authority: SDCL 51A-2-13, 51A-2-36.
Law Implemented: SDCL 51A-2-36.
20:07:06:01.02. Reduced examination fee schedule. Notwithstanding the provisions of §§ 20:07:06:01 and 20:07:06:03, a state-chartered bank is not required to pay a semiannual fee for examinations for the June 2021 assessment period.
Source: 48 SDR 14, effective August 25, 2021.
General Authority: SDCL 51A-2-13, 51A-2-36.
Law Implemented: SDCL 51A-2-36.
20:07:06:02. Remittance. The semiannual fees shall be remitted by electronic transfer after notice from the Division. The Division will provide notice to each state-chartered bank 30 to 75 days after the June 30 and December 31 reports of condition and income dates.
Source: SL 1975, ch 16, § 1; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 19 SDR 85, effective December 14, 1992; 41 SDR 219, effective July 1, 2015; 48 SDR 14, August 25, 2021.
General Authority: SDCL 51A-2-13, 51A-2-36.
Law Implemented: SDCL 51A-2-36.
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.
Source: SL 1975, ch 16, § 1; 4 SDR
33, effective December 19, 1977; 12 SDR 151, 12 SDR 155, effective July 1,
1986; 19 SDR 85, effective December 14, 1992; 35 SDR 285, effective June 9,
2009.
General Authority: SDCL 51A-2-13, 51A-2-36.
Law Implemented: SDCL 51A-2-36.
