750 IAC 10-1-7 Fee increase for composite ratings

Sec. 7. (a) If a: (1) bank; (2) savings bank; (3) building and loan association; (4) industrial authority; (5) trust department; (6) corporate fiduciary; or (7) credit union; receives a composite 3 rating at its most recent state or federal safety and soundness examination, its annual fee is increased by twelve and one-half percent (12.5%). This assessment is prorated on a quarterly basis. The increased supervisory assessment stays in effect until the quarter following the financial institution's receipt of a composite 1 or 2 rating at a state or federal safety and soundness examination. (b) If a: (1) bank; (2) savings bank; (3) building and loan association; (4) industrial authority; (5) trust department; (6) corporate fiduciary; or (7) credit union; receives a composite 4 or 5 rating at its most recent state or federal safety and soundness examination, its annual fee is increased by twenty-five percent (25%). This assessment is prorated on a quarterly basis. The increased supervisory assessment stays in effect until the quarter following the financial institution's receipt of a composite 1 or 2 rating at a state or federal safety and soundness examination.