Bill Summaries: H 439 CREDIT UNION FEES AND LATE PENALTY.

Tracking:
  • Summary date: Mar 29 2021 - More information

    Amends GS 54-109.14 to establish a $250 charter fee and a $2,500 investigation fee for new credit unions established. Makes clarifying and technical changes to the statute.

    Changes the penalties for delayed reporting by credit unions under GS 54-109.15. More specifically calls for late penalties to be paid when credit unions fail to make timely semiannual reports or other reports required by the Administrator (rather than failure to make the reports in general). Now directs the Administrator of Credit Unions to annually determine a schedule for the late penalty to be assessed during the next calendar year on or before December 1, with per-day penalties beginning at no less that $75 and not exceeding $750 (was fixed at $75 per-day). 

    Effective October 1, 2021. 


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