Bill Text: AZ SB1003 | 2018 | Fifty-third Legislature 2nd Regular | Introduced


Bill Title: Banking permits; fees

Spectrum: Partisan Bill (Republican 1-0)

Status: (N/A) 2017-11-15 - Prefile [SB1003 Detail]

Download: Arizona-2018-SB1003-Introduced.html

 

 

PREFILED    NOV 15 2017

REFERENCE TITLE: banking permits; fees

 

 

 

State of Arizona

Senate

Fifty-third Legislature

Second Regular Session

2018

 

 

SB 1003

 

Introduced by

Senator Farnsworth D

 

 

AN ACT

 

amending section 6‑126, Arizona Revised Statutes; relating to the department of financial institutions.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 


Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 6-126, Arizona Revised Statutes, is amended to read:

START_STATUTE6-126.  Application fees for financial institutions and enterprises

A.  The following nonrefundable fees are payable to the department with the filing of the following applications:

1.  To apply for a banking permit, five one thousand dollars.

2.  To apply for an amendment to a banking or savings and loan association permit, one thousand dollars.

3.  To establish each banking branch office, seven hundred fifty dollars.

4.  To move a banking office to other than an established office of a bank, one thousand dollars.

5.  To apply for a savings and loan association permit, five thousand dollars.

6.  To establish each savings and loan association branch office, one thousand five hundred dollars.

7.  To move an office of a savings and loan association to other than an established office, one thousand dollars.

8.  To organize and establish a credit union, one hundred dollars.

9.  To establish each credit union branch or to move a credit union office to other than an established office of a credit union, two hundred fifty dollars.

10.  To organize and establish any other financial institutions for which an application or investigation fee is not otherwise provided by law, two thousand five hundred dollars.

11.  To acquire control of a financial institution, other than a consumer lender, five thousand dollars.

12.  To apply for a trust company license, five thousand dollars.

13.  To apply for a commercial mortgage banker, mortgage banker, escrow agent or consumer lender license, one thousand five hundred dollars.

14.  To apply for a mortgage broker, commercial mortgage broker, sales finance company or debt management company license, eight hundred dollars.

15.  To apply for a collection agency license, one thousand five hundred dollars.

16.  To apply for a deferred presentment company license, one thousand dollars.

17.  To apply for a branch office of an escrow agent, consumer lender, commercial mortgage banker, mortgage banker, trust company, money transmitter, collection agency or deferred presentment company, five hundred dollars.

18.  To apply for a branch office of a mortgage broker, commercial mortgage broker, debt management company or sales finance company, two hundred fifty dollars.

19.  To apply for approval of the articles of incorporation of a business development corporation, five hundred dollars.

20.  To apply for approval for the merger or consolidation of two or more financial institutions, five thousand dollars per institution.

21.  To apply for approval to convert from a national bank or federal savings and loan charter to a state chartered institution, five thousand dollars.

22.  To apply for approval to convert from a federal credit union to a state chartered credit union, one thousand dollars.

23.  To apply for approval to merge or consolidate two or more credit unions, five hundred dollars per credit union.

24.  To move an established office of an enterprise to other than an established office, fifty dollars.

25.  To issue a duplicate or replace a lost enterprise's license, one hundred dollars.

26.  To change a responsible person on a mortgage broker's, commercial mortgage broker's, commercial mortgage banker's or a mortgage banker's license, two hundred fifty dollars.

27.  To change an active manager on a collection agency license or a manager of a money transmitter branch office license, two hundred fifty dollars.

28.  To change the licensee name on a financial institution or enterprise license, not more than two hundred fifty dollars.

29.  To apply for a money transmitter license, one thousand five hundred dollars plus twenty‑five dollars for each branch office and authorized delegate to a maximum of four thousand five hundred dollars.

30.  To acquire control of any money transmitter or controlling person pursuant to chapter 12 of this title, two thousand five hundred dollars.

31.  To receive the following publications:

(a)  Quarterly bank and savings and loan statement of condition, not more than ten dollars per copy.

(b)  Monthly summary of actions report, not more than five dollars per copy.

(c)  A list of licensees, a monthly pending actions report and all other in‑house prepared reports or listings made available to the public, not more than one dollar per page.

32.  To apply for a loan originator license, an amount to be determined by the superintendent.

33.  To apply for a loan originator license transfer, an amount to be determined by the superintendent.

34.  To apply for a conversion from a mortgage banker license to a mortgage broker license, an amount to be determined by the superintendent.

B.  On issuance of a license or permit for a financial institution or enterprise, the superintendent shall collect the first year's annual assessment or renewal fee for the financial institution or enterprise prorated according to the number of quarters remaining until the date of the next annual assessment or renewal.

C.  The following annual renewal fees shall be paid each year:

1.  For an escrow agent, or trust company, one thousand dollars plus two hundred fifty dollars for each branch office.

2.  For a debt management company or sales finance company, five hundred dollars plus two hundred dollars for each branch office.

3.  For a collection agency, six hundred dollars plus two hundred dollars for each branch office.

4.  For an inactive mortgage broker or commercial mortgage broker, two hundred fifty dollars.

5.  For a mortgage banker that negotiates or closes in the aggregate one hundred loans or less in the immediately preceding calendar year, seven hundred fifty dollars, and for a mortgage banker that negotiates or closes in the aggregate over one hundred loans in the immediately preceding calendar year, one thousand two hundred fifty dollars.  In addition, a mortgage banker shall pay two hundred fifty dollars for each branch office.

6.  For a commercial mortgage banker, one thousand two hundred fifty dollars.  In addition, a commercial mortgage banker shall pay two hundred fifty dollars for each branch office.

7.  For a mortgage broker or commercial mortgage broker that negotiates or closes in the aggregate fifty loans or less in the immediately preceding calendar year, two hundred fifty dollars and for a mortgage broker or commercial mortgage broker that negotiates or closes in the aggregate more than fifty loans in the immediately preceding calendar year, five hundred dollars.  In addition, a mortgage broker or commercial mortgage broker shall pay two hundred dollars for each branch office.

8.  For a consumer lender, one thousand dollars plus two hundred dollars for each branch office.

9.  For a money transmitter, five hundred dollars plus twenty‑five dollars for each branch office and each authorized delegate to a maximum of two thousand five hundred dollars.

10.  For a deferred presentment company, four hundred dollars.  In addition, a deferred presentment company shall pay two hundred dollars for each branch office.

11.  For a loan originator, an amount to be determined by the superintendent.

12.  For an inactive status loan originator, an amount to be determined by the superintendent.

D.  The license, renewal or branch office permit fee for a premium finance company for each calendar year or part thereof shall not be less than one hundred dollars or more than three hundred dollars as set by the superintendent.  If the license is issued or the branch office is opened after June 30 in any year, the fees shall not be less than fifty dollars or more than one hundred fifty dollars for that year. END_STATUTE

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