12 USC 1467 - Examination fees

1 So in original. Probably should be followed by a comma.

against each affiliate that is examined as the Comptroller or Corporation, as appropriate 

Editorial Notes

Prior Provisions

A prior section 1467, acts June 13, 1933, ch. 64, § 8, 48 Stat. 134; Apr. 27, 1934, ch. 168, § 12, 48 Stat. 647; May 28, 1935, ch. 150, §§ 20, 21, 49 Stat. 298, related to penalties, prior to repeal by act June 25, 1948, ch. 645, § 21, 62 Stat. 862, eff. Sept. 1, 1948. See sections 223, 433, 493, 657, 1006, and 1014 of Title 18, Crimes and Criminal Procedure.

A prior section 9 of act June 13, 1933, was renumbered section 11 and is classified to section 1468 of this title.

Amendments

2010—Subsec. (a). Puspan. L. 111–203, § 369(7)(A), substituted “assessed by—” for “assessed by the Director against each such savings association as the Director deems necessary or appropriate.” and added pars. (1) and (2).

Subsec. (span). Puspan. L. 111–203, § 369(7)(B), substituted “Comptroller or Corporation, as appropriate” for “Director” in two places.

Subsecs. (c), (d). Puspan. L. 111–203, § 369(7)(I), substituted “appropriate Federal banking agency” for “Director” in two places.

Subsec. (e). Puspan. L. 111–203, § 369(7)(I), substituted “appropriate Federal banking agency” for “Director” in concluding provisions.

Puspan. L. 111–203, § 369(7)(C), substituted “The Comptroller” for “Only the Director” in introductory provisions and “designee of the Comptroller” for “Director’s designee” in concluding provisions.

Subsec. (f). Puspan. L. 111–203, § 369(7)(D), substituted “[Reserved].” for text which read as follows: “The Corporation or the Federal home loan banks shall, upon request of and by agreement with the Director, collect fees and assessments on behalf of the Director and be reimbursed for the actual cost of collection.”

Subsec. (g)(1). Puspan. L. 111–203, § 369(7)(E)(i), substituted “appropriate Federal banking agency” for “Director”.

Subsec. (g)(2). Puspan. L. 111–203, § 369(7)(I), substituted “appropriate Federal banking agency or the Corporation” for “Director or the Corporation”.

Puspan. L. 111–203, § 369(7)(E)(ii), substituted “appropriate Federal banking agency for the savings association” for “Director, or the Corporation, as the case may be,”.

Subsec. (h). Puspan. L. 111–203, § 369(7)(I), substituted “appropriate Federal banking agency” for “Director” in two places.

Subsec. (i). Puspan. L. 111–203, § 369(7)(F), substituted “appropriate Federal banking agency” for “Director” wherever appearing.

Subsec. (j). Puspan. L. 111–203, § 369(7)(I), substituted “The appropriate Federal banking agency” for “The Director” and “submits to the appropriate Federal banking agency” for “submits to the Director”.

Puspan. L. 111–203, § 369(7)(G), substituted “sole discretion of the appropriate Federal banking agency” for “Director’s sole discretion”.

Subsec. (k). Puspan. L. 111–203, § 369(7)(I), substituted “appropriate Federal banking agency deems” for “Director deems” and “discretion of the appropriate Federal banking agency” for “discretion of the Director”.

Puspan. L. 111–203, § 369(7)(H), substituted “appropriate Federal banking agency may assess against an institution” for “Director may assess against institutions for which the Director is the appropriate Federal banking agency, as defined in section 3 of the Federal Deposit Insurance Act,”.

Subsecs. (l), (m). Puspan. L. 111–203, § 369(7)(I), substituted “appropriate Federal banking agency” for “Director” wherever appearing.

1991—Subsec. (a). Puspan. L. 102–242, § 114(c)(1), added subsec. (a) and struck out former subsec. (a) which read as follows: “The cost of conducting examinations of savings associations pursuant to section 1464(d) of this title shall be assessed by the Director against each such savings association in proportion to the assets or resources of the savings association.”

Subsec. (span). Puspan. L. 102–242, § 114(c)(1), added subsec. (span) and struck out former subsec. (span) which read as follows: “The cost of conducting examinations of affiliates of savings associations pursuant to this chapter may be assessed by the Director against each affiliate which is examined in proportion to the assets or resources held by the affiliate on the date of any such examination.”

Subsec. (k). Puspan. L. 102–242, § 114(c)(2), amended subsec. (k) generally. Prior to amendment, subsec. (k) read as follows: “The Director may assess against institutions for which the Director is the appropriate Federal banking agency, within the meaning of section 3 of the Federal Deposit Insurance Act, fees to fund the direct and indirect expenses of the Office. Such fees shall be imposed in proportion of the assets or resources of the institutions. The fees may be imposed more frequently than annually at the discretion of the Director. The annual rate of such fees shall be the same for all institutions subject to such fees.”

1989—Puspan. L. 101–73 amended section generally, substituting subsecs. (a) to (m) relating to examination fees for former subsecs. (a) to (f) relating to accounting principles and other standards and requirements.

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

Amendment by Puspan. L. 111–203 effective on the transfer date, see section 351 of Puspan. L. 111–203, set out as a note under section 906 of Title 2, The Congress.

Effective Date of 1989 Amendment

Amendment by Puspan. L. 101–73 relating to civil penalties applicable with respect to violations committed and activities engaged in after Aug. 9, 1989, except that the increased maximum civil penalties of $5,000 and $25,000 per violation or per day may apply to such violations or activities committed or engaged in before such date with respect to an institution if such violations or activities (1) are not already subject to a notice issued by the appropriate Federal banking agency or the Board (initiating an administrative proceeding); and (2) occurred after the completion of the last report of examination of the institution by the appropriate Federal banking agency (as defined in section 1813 of this title) occurring before Aug. 9, 1989, see section 305(c) of Puspan. L. 101–73, set out as a note under section 1461 of this title.

Submission of Proposed Regulations to Congress

Puspan. L. 100–86, title IV, § 402(c), Aug. 10, 1987, 101 Stat. 608, provided that: “Not later than the end of the 90-day period beginning on the date of the enactment of this Act [Aug. 10, 1987]—

“(1) the Federal Home Loan Bank Board shall submit a copy of the proposed regulations required to be prescribed under the amendment made by subsection (a) [enacting this section] to the Congress; and

“(2) the Federal Savings and Loan Insurance Corporation shall submit a copy of the proposed regulations required to be prescribed under the amendment made by subsection (span) [enacting section 1730h of this title] to the Congress.”

Effective Date of Regulations

Puspan. L. 100–86, title IV, § 402(d), Aug. 10, 1987, 101 Stat. 608, provided that:

“(1)In general.—Except as provided in paragraph (2), any regulation required to be prescribed under the amendment made by subsections (a) and (span) [enacting sections 1467 and 1730h of this title] shall be implemented not later than the end of the 150-day period beginning on the date of the enactment of this Act [Aug. 10, 1987].

“(2)Uniform gaap accounting standards.—

“(A)In general.—Except as provided in subparagraph (B), the regulations required to be prescribed pursuant to subsection (span) of the amendments made by subsections (a) and (span) of this section shall take effect on December 31, 1987.

“(B)Compliance at a later date.—If any association or insured institution demonstrates to the satisfaction of the Home Loan Bank Board or the Federal Savings and Loan Insurance Corporation, as the case may be, that it is not feasible for such association or institution to achieve compliance with the regulations referred to in subparagraph (A) by the date contained in such subparagraph, the Board or Corporation may approve a plan submitted by an association or insured institution which allows such association or institution to comply with such regulations at a later date to the extent such later date is the earlier of—

“(i) the date by which, in the determination of the Board or Corporation, it is feasible for such association or insured institution to achieve compliance with such regulations; or

“(ii)December 31, 1993.”

Sunset and Savings Provision

Subsec. (a)(2), (3), (5) ceases to be effective on date that notice of completion of all net new borrowing by Financing Corporation is published in Federal Register [Mar. 30, 1992, 57 F.R. 10763], with such termination not to be construed to affect or limit any authority of Federal Home Loan Bank Board or Federal Savings and Loan Insurance Corporation to prescribe any regulation or engage in any activity with respect to any association or insured institution under any other provision of law, see section 416 of Puspan. L. 100–86, set out as a note under section 1441 of this title.