Any bank engaged in non-traditional banking services, including credit cards, rent-a-bin agreements, payday lending, or loan syndication, shall pay an additional semiannual fee of one cent per $1,000 on all assets, but not less than $500. Any bank operating under an enforcement action shall pay an additional semiannual fee of one cent per $1,000 of all assets, but not less than $500.

Any bank requiring more than one examination in any calendar year shall pay the actual costs incurred by the division including salaries, travel expenses, and supplies.

A bank has the right to a hearing before the commission for a review of an assessment of additional fees under this section.

Source: SL 1975, ch 16, § 1; 4 SDR 33, effective December 19, 1977; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 19 SDR 85, effective December 14, 1992; 35 SDR 285, effective June 9, 2009.

General Authority: SDCL 51A-2-13 , 51A-2-36.

Law Implemented: SDCL 51A-2-36.