HRS § 412-2-105.2 - Hawaii financial institutions; assessments; fees; penalty

(a) Beginning January 1, 2014, every Hawaii financial institution shall be assessed a yearly fee in accordance with the following: (1) For financial institutions with total assets under $750,000, the assessment shall be the sum of $1,000 plus the product of 0.00029111 times total assets; (2) For financial institutions with total assets of at least $750,000 but under $7,500,000, the assessment shall be the sum of $2,000 plus the product of 0.00029111 times total assets; (3) For financial institutions with total assets of at least $7,500,000 but under $20,000,000, the assessment shall be the sum of $4,800 plus the product of 0.00029111 times total assets; (4) For financial institutions with total assets of at least $20,000,000 but under $75,000,000, the assessment shall be the sum of $9,900 plus the product of 0.000064 times total assets; (5) For financial institutions with total assets of at least $75,000,000 but under $200,000,000, the assessment shall be the sum of $15,000 plus the product of 0.00005333 times total assets; (6) For financial institutions with total assets of at least $200,000,000 but under $1,000,000,000, the assessment shall be the sum of $21,100 plus the product of 0.00004750 times total assets; (7) For financial institutions with total assets of at least $1,000,000,000 but under $20,000,000,000, the assessment shall be the sum of $29,000 plus the product of 0.00004 times total assets; provided that the yearly fee assessed for financial institutions with total assets of at least $2,000,000,000 but less than $10,000,000,000 shall be no more than $100,000, and the yearly fee assessed for financial institutions with total assets of at least $10,000,000,000 shall be no more than $150,000. (b) The assessments shall be paid semiannually on March 1 and September 1 of each year based on the institution's total assets reported as of the previous December 31 and June 30, respectively. (c) In addition to the assessments established in subsection (a), a financial institution or financial institution applicant shall pay fees as follows: (1) A nonrefundable fee of $10,000 for an application for preliminary approval by the commissioner for the organization of a Hawaii financial institution pursuant to section 412:3-201, 412:3-202, 412:3-206, or 412:3-301; (2) A nonrefundable fee of $9,000 for an application for preliminary approval by the commissioner for the organization of a Hawaii financial institution pursuant to section 412:5-402; (3) A nonrefundable fee of $2,500 for a final application for a charter or license to engage in the business of a Hawaii financial institution pursuant to section 412:3-212; (4) A nonrefundable fee of $10,000 for an application for a merger or consolidation or acquisition of control involving a Hawaii financial institution; (5) A nonrefundable fee of $2,500 for an application for the conversion of a federal financial institution to a Hawaii financial institution or the conversion of a Hawaii financial institution to another Hawaii financial institution charter; (6) A nonrefundable fee of $5,000 for an application of a bank to conduct a trust business through a subsidiary, division, or department of the bank pursuant to section 412:5-205; (7) A nonrefundable fee of $5,000 for an application of a bank to conduct insurance activities pursuant to section 412:5-205.5; (8) A nonrefundable fee of $5,000 for an application of a bank to engage in securities activities pursuant to section 412:5-205.7; (9) A nonrefundable fee of $2,000 for an application for a bank, savings bank, or depository financial services loan company to comply with lending limits applicable to federal financial institutions pursuant to section 412:5-302, 412:6-303, or 412:9-404; (10) A nonrefundable fee of $2,000 for an application to exceed certain permitted investment limits pursuant to sections 412:5-305(f) and (h), 412:6-306(f) and (h), 412:7-306(f) and (h), 412:8-301(f), 412:9-409(f) and (i), and 412:10-502(g); and (11) A nonrefundable fee of $2,500 for an application to engage in the business of a credit union. (d) The annual fee for each intra-Pacific financial institution and interstate branch of out-of-state banks is the sum of $1,000 for each office, agency, and branch office maintained by the financial institution, payment of which shall be made before December 31 of each year. The commissioner may establish, increase, decrease, or repeal this fee pursuant to rules adopted in accordance with chapter 91. (e) Intra-Pacific bank fees shall be as follows: (1) A nonrefundable fee of $9,000 to establish an initial branch pursuant to section 412:5-401; (2) A nonrefundable fee of $750 to establish an additional branch or agency of an intra-Pacific bank; and (3) A nonrefundable fee of $500 for an application to relocate a branch or agency of an intra-Pacific bank established or acquired pursuant to section 412:5-401. (f) A nonrefundable fee of $500 shall be assessed for an application to relocate a branch or office established pursuant to section 412:12-107. (g) A nonrefundable fee of $100 shall be assessed for each certificate of good standing for any Hawaii financial institution; provided that an additional fee of $100 shall be assessed for each certificate of good standing that is requested to be provided in two business days from receipt of request. (h) All assessments and fees shall be deposited into the compliance resolution fund established pursuant to section 26-9(o). (i) For purposes of this section, "total assets" means for an insured depository institution the total assets reported in the financial institution's quarterly reports of condition, or call reports, which are required to be filed pursuant to section 7(a)(3) of the Federal Deposit Insurance Act or in the unaudited financial statements filed pursuant to section 412:3-112. (j) A Hawaii financial institution that fails to make a payment required by this section shall be subject to an administrative fine of not more than $250 per day for each day it is in violation of this section, which fine, together with the amount due under this section, may be recovered pursuant to section 412:2-611 and shall be deposited into the compliance resolution fund established pursuant to section 26-9(o). [L 2013, c 172, §10; am L 2016, c 149, §2]