Brief (1)
SB 457 concerns the assessment of examination fees for banks, savings and loan associations, and trust companies. The bill provides that, in the instance of a merger of two state chartered institutions between July 1 and December 31, the surviving institution is responsible for payment of the second half of the examination fee assessed against the merged institution which is due on January 15 of the next year.
Background
SB 457 was requested by the Bank Commissioner whose representative explained that the bill clarifies which entity is responsible for the second half assessment. Current law already addresses this issue if the merger were to occur earlier in the year.
The fiscal note prepared by the Division of the Budget indicates there would be no fiscal impact resulting from passage of the bill.
1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/bill_search.html