69U-150.730: Association Assessments
PURPOSE AND EFFECT: The proposed rule amendments will repeal the rule. The Office has identified the rule as unnecessary as the result of the comprehensive rule review that it undertook pursuant to Sections 120.74 and 120.745, F.S. The rule applies to assessments for capital stock associations chartered under Chapter 665, F.S. There are no Florida-chartered capital stock associations operating in the state and there has not been any in recent times. In effect, this type of charter has been replaced by the provisions of Chapter 667, F.S., which governs the chartering of state-chartered savings banks.
SUMMARY: The proposed rule amendments will repeal the rule. The Office has identified the rule as unnecessary as the result of the comprehensive rule review that it undertook pursuant to Sections 120.74 and 120.745, F.S. The rule applies to assessments for capital stock associations chartered under Chapter 665, F.S. There are no Florida-chartered capital stock associations operating in the state and there has not been any in recent times. In effect, this type of charter has been replaced by the provisions of Chapter 667, F.S., which governs the chartering of state-chartered savings banks.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:
The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the agency.
The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: 1) No requirement for a SERC was triggered under Section 120.541(1); and 2) The rule repeal will not exceed any one of the economic analysis criteria in a SERC, as set forth in Section 120.541(2)(a), F.S.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
RULEMAKING AUTHORITY: 120.53, 655.012 FS.
LAW IMPLEMENTED: 655.013(34), 655.047, 658.73 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Jeffrey Jones, Assistant General Counsel, (850)410-9640, jeffrey.jones@flofr.com
THE FULL TEXT OF THE PROPOSED RULE IS:
69U-150.730 Association Assessments.
(1) Each state association shall pay to OFR a semiannual fee of $250, plus a semiannual assessment computed on total assets as shown on the Consolidated Thrift Financial Report of the association as of the last business day in June and the last business day in December of each year. In the event that a Consolidated Thrift Financial Report is amended, and such amendment results in a change in consolidated total assets, the semiannual assessment shall be computed on the adjusted total assets reported in the amended Consolidated Thrift Financial Report only if such report is postmarked no later than July 31 or January 31 of the current assessment period. No adjustment will be made for amended reports postmarked after this date.
(2) In addition to the semiannual fee in subsection (1), associations shall pay to OFR a semiannual assessment which shall be computed on the following schedule:
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(3) OFR shall levy a late payment penalty of $100.00 per day for each day that a semiannual assessment is past due, unless the late payment penalty is excused for good cause. For intentional late filing of a semiannual assessment, OFR shall levy a late payment penalty of $1,000.00 per day for each day that a semiannual assessment is past due.
Rulemaking Specific Authority 120.53(1)(a), 655.012(3) FS. Law Implemented 655.013(34), 655.047, 658.73 FS. History–New 8-9-93, Formerly 3C-150.730, Repealed_________.