(A) Each credit union engaged in operations as of January first
of a calendar year shall pay the supervisory fee described in division (E) of
section 1733.32 of the Revised Code, based on a percentage of the gross assets
of the credit union, as shown by its last annual financial report, by the
following groupings:
(1) The amount from $1 to
$125,000 of the credit union's gross assets shall be billed at a rate as
established by the superintendent;
(2) The amount from
$125,001 to $4,000,000 of the credit union's gross assets shall be billed
at a rate which is not less than one-fiftieth of one per cent, or .20 per
$1,000 and not more than a rate of one-ninth of one per cent, or 1.11 per
$1,000;
(3) The amount from
$4,000,001 to $30,000,000 of the credit union's gross assets shall be
billed at a rate which is no greater than one-sixteenth of one per cent, or .62
per $1,000;
(4) Any amount above
$30,000,000 of the credit union's gross assets shall be billed at a rate
which is no greater than one-twentieth of one per cent, or .50 per
$1,000.
(B) "Gross assets" are defined as total assets, plus
the allowance for loan loss account, plus the allowance for investment loss
account.
(C) In accordance with division (E)(4) of section 1733.32 of the
Revised Code, the total amount of each semiannual billing to all credit unions
combined shall equal one-half of the appropriation made by the enactment of the
State's Main Operating Budget Act or any correction thereto, including any
modifications made by the controlling board. In determining the supervisory
fees the superintendent may take into consideration any funds lapsed from the
appropriation made in the previous fiscal year.
(D) New charters - a newly chartered credit union is not required
to pay a supervisory fee in the calendar year in which its legal existence
begins.
(E) Fees are nonrefundable - In the case of conversion to a
federal charter, merger, voluntary dissolution, or involuntary dissolution, a
credit union shall not receive a refund of any supervisory fee paid to the
division prior to the effective date of the action . The superintendent may
waive payment by a credit union of any supervisory fee which has been assessed,
but not paid, for good cause shown.
(F) If the credit union fails to remit the supervisory fee
by the thirtieth day after the date of the division's billing, the
superintendent may assess a fine in accordance with paragraph (G) of this
rule.
(G) Pursuant to paragraph (F) of this rule and paragraph
(D) of rule 1301:9-1-03 of the Administrative Code, the superintendent may
impose a fine of not more than five hundred dollars for each day the credit
union is late in submitting a financial report or supervisory fee. In
determining the amount of the fine to be assessed the superintendent may
consider all of the following:
(1) The credit
union's asset size and financial resources;
(2) The seriousness of
the violation;
(3) The credit
union's good faith efforts to prevent the violation;
(4) The credit
union's history regarding violations of this rule; and
(5) Any other matters the
superintendent considers appropriate in enforcing section 1733.32 of the
Revised Code and this rule.
