Statute · California Financial Code
Cal. Fin. Code § 14351 — Costs of Administration
Cal. Fin. Code § 14351
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2014-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(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)…
Citator
Cal. Fin. Code § 14351 — Costs of Administration is in force in the current edition of the Code, and nothing recorded condemns it.
(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 |
|---|---|
|
$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.