California Code, Financial Code - FIN § 14351
Current as of January 01, 2023 | Updated by FindLaw Staff
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(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:
|
Total Assets |
Percentage of Base |
||
|
* * * |
Assessment Rate |
||
|
* * * $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.
Cite this article: FindLaw.com - California Code, Financial Code - FIN § 14351 - last updated January 01, 2023 | https://codes.findlaw.com/ca/financial-code/fin-sect-14351/
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