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2.59.104    SEMIANNUAL ASSESSMENT

(1) The department invoices banks, investment companies, and trust companies for semiannual assessments every June and December. The assessment is based on each institution's total assets provided in its previous March and September call reports.

(2) The fee is calculated based on the total assets of the bank, investment company, or trust company multiplied by .0000375, plus the flat fee listed below.

 

Total Assets

Flat Fee ($)

$0 to $50 million

$0

Over $50 to $100 million

$3,000

Over $100 to $250 million

$5,000

Over $250 million to

$1 billion

 

 $7,500

Over $1 billion

$15,000

 

Example: Bank A reports total assets of $58,873,000 x .0000375 plus $3,000 equals $5,207.74.

(3) The assessment is due 30 days after each invoice date, or July 31 and January 31, whichever is later.

(4) The fee shall not exceed $300,000 for each semiannual assessment.

(5) In the event of a merger between Montana state-chartered banks, investment companies, or trust companies during the second or fourth quarter of the year, the assessment fee for the acquired institution must be paid by the surviving institution.

(6) The assessment billed in December 2022 and collected in January 2023 is waived.

 

History: 32-1-213, 32-1-218, MCA; IMP, 32-1-213, 32-1-218, MCA; NEW, 1984 MAR p. 440, Eff. 3/16/84; AMD, 1985 MAR p. 776, Eff. 6/28/85; AMD, 1994 MAR p. 1143, Eff. 4/29/94; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2007 MAR p. 1926, Eff. 11/22/07; AMD, 2012 MAR p. 883, Eff. 4/27/12; AMD, 2013 MAR p. 667, Eff. 4/26/13; AMD, 2014 MAR p. 1918, Eff. 8/22/14; AMD, 2015 MAR p. 748, Eff. 6/12/15; AMD, 2016 MAR p. 878, Eff. 5/21/16; AMD, 2016 MAR p. 2326, Eff. 12/10/16; AMD, 2019 MAR p. 2228, Eff. 12/7/19; AMD, 2020 MAR p. 1515, Eff. 8/8/20; AMD, 2020 MAR p. 2133, Eff. 11/21/20; AMD, 2021 MAR p. 328, Eff. 3/27/21; AMD, 2021 MAR p. 1319, Eff. 10/9/21; AMD, 2022 MAR p. 1656, Eff. 8/6/22.

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