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House Bill No. 5074

Public Act No. 02-13

AN ACT CONCERNING ASSESSMENTS AND REPORTS FILED WITH THE COMMISSIONER OF BANKING.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Subdivision (1) of subsection (a) of section 36a-16 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2002):

(a) (1) Each Connecticut bank shall file with the commissioner such reports of condition and income as are required to be filed with the appropriate federal banking agency on the dates that such reports are required to be filed with such agency. [Such] Each mutual Connecticut bank shall publish such reports for the [periods] period ending [June thirtieth and] December thirty-first of each year [shall be published] in a newspaper published in the county where the main office of such mutual Connecticut bank is located in such form as the commissioner may prescribe within ten days of the date of such report, and such proof of publication shall be furnished as the commissioner may require.

Sec. 2. Subsection (a) of section 36a-65 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2002):

(a) The commissioner shall annually, on or after July first for the fiscal year commencing on said July first, collect pro rata based on asset size from each Connecticut bank and each Connecticut credit union an amount sufficient in the commissioner's judgment to meet the expenses of the Department of Banking, including a reasonable reserve for contingencies. Such assessments and expenses shall not exceed the budget estimates submitted in accordance with section 36a-13. Such assessments may be made more frequently than annually at the discretion of the commissioner. Such assessments for any fiscal year shall be reduced pro rata by the amount of any surplus from the assessments of prior fiscal years, which surplus shall be maintained in accordance with subdivision (4) of subsection (c) of this section. The commissioner may reduce any such assessment collected from a Connecticut bank up to the amount of any assessment for the same fiscal year collected from such bank by another state in which such bank has established a branch, limited branch or mobile branch. Such assessments for any fiscal year shall be a liability of such banks and credit unions as of the assessment date. Except as provided in this subsection, such assessments shall not be prorated for any reason.

Sec. 3. Subsection (b) of section 36a-65 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2002):

(b) The fee for trust department examinations [is one hundred fifty dollars a day for the examiner in charge, including time for report writing, and one hundred dollars a day for each assisting examiner. Any daily charge based on less than a three and one-half hour day will be computed on the basis of one-half per day charge and any time in excess of three and one-half hours will be on the basis of a full day. The minimum rate for the examination of a trust department is one hundred fifty dollars] shall be the actual cost of examination, as such cost is determined by the commissioner.

Approved April 30, 2002