2021 New Mexico Statutes
Article 1A - Consumer Credit Banks
Section 58-1A-7 - Supervision fees.

A. Each consumer credit bank shall annually pay to the director a supervision fee, calculated on the basis of total assets as of December 31 of the immediately previous year:
Total assets (000):
Assessment:
Over
But not
This
Plus
Of excess
over
amount
over (000)
0
200,000
7,500
0.0000250
100,000
200,000
500,000
10,000
0.0006667
200,000
500,000
1,000,000
30,000
0.0000500
500,000
1,000,000
2,000,000
55,000
0.0000400
1,000,000
2,000,000
95,000
0.0000300
2,000,000
B. The fee shall be paid on or before March 1 of each year. For failure to pay the supervisor fee when due unless excused for cause by the director, the consumer credit bank shall pay to the financial institutions division of the regulation and licensing department one hundred dollars ($100) for each day of delinquency.
C. The director shall examine the condition of the consumer credit bank. A report of examination shall be sent to the board of directors of the consumer credit bank.
History: Laws 1993, ch. 11, § 7; 1995, ch. 33, § 5.
The 1995 amendment, effective June 16, 1995, rewrote Subsection A to substitute the provisions for calculation of the supervision fee on the basis of total assets for a fee of $7,500; redesignated the former third and fourth sentences of Subsection A as Subsection B and former Subsection B as Subsection C; and, in Subsection C, deleted "of the financial institutions division of the regulation and licensing department" following "director" in the first sentence and deleted the former third sentence relating to the fee for each consumer credit bank examination.

Structure 2021 New Mexico Statutes