Section 60. Schedule prescribing annual fees paid for examination, supervision, and regulation of consumer finance licenses

Pursuant to § 6.2-1532 of the Code of Virginia, the following schedule sets the fees to be paid annually by consumer finance licensees for their licenses, and to defray the costs of examination, supervision and regulation of licensed consumer finance offices:

Minimum fee - $300 per office open January 1 of the current calendar year.

In addition to the minimum fee, the following fee based on total assets:

SCHEDULE
Total Assets	Fee
Over $300,000 - $750,000	$.85 per $1,000 or fraction thereof
$750,000 - $2,000,000	$.70 per $1,000 or fraction thereof
Over $2,000,000	$.55 per $1,000 or fraction thereof

The annual fee for each licensee will be computed on the basis of its total assets combined with the total assets of all other businesses conducted in any of its licensed offices as of the close of business December 31 of the preceding calendar year. The amounts of such total assets will be derived from the annual reports which § 6.2-1534 of the Code of Virginia requires licensees to file with the Bureau of Financial Institutions on or before the first day of April of each year.

In accordance with § 6.2-1532 of the Code of Virginia, annual fees for any given calendar year will be assessed on or before May 1 of that year and must be paid on or before June 1 of that year. Fees are to be assessed using the foregoing schedule for the calendar year which began January 1, 1983. This fee schedule will be in effect until it is amended or revoked by order of the Commission.

Historical Notes

Derived from VR225-01-0606, eff. April 14, 1983; amended, Volume 28, Issue 20, eff. June 1, 2012.

Statutory Authority

§ 6.2-1535 of the Code of Virginia.