A. Each state bank shall annually pay to the director a supervision fee. The amount of the supervision fee paid by each state bank is computed as follows, based upon assets as of December 31:

If the bank's total assets are

The assessment is

Over (Thousand)

But not over (Thousand)

This amount

Plus

Of excess over (Thousand)

0

30,000

0

.000210

0

30,000

60,000

6,300

.000182

30,000

60,000

100,000

11,745

.000168

60,000

100,000

150,000

18,465

.000158

100,000

150,000

200,000

26,340

.000147

150,000

200,000

33,690

.000143

200,000.

B. The fee shall be paid on or before the March 1 following the asset computation. For failure to pay the supervision fee when due, unless excused for cause by the director, the bank shall pay to the division one hundred dollars ($100) for every day of its delinquency.

C. The director may proscribe lower supervision fees by regulation. In determining the amounts of the lower fees, the director may use criteria other than total assets of banks.

History: Laws 1985, ch. 30, § 1; 1989, ch. 209, § 5; 1997, ch. 23, § 4.

The 1997 amendment, effective July 1, 1997, deleted "financial institutions" preceding "division" in the second sentence of Subsection B, and added Subsection C.

Prior History. — In 1985, former section 58-1-41 NMSA 1978 was repealed and re-enacted by Laws 1985, Chapter 3, Section 1. For prior history, see 1953 Comp., § 48-22-33.7, enacted by Laws 1975, ch. 330, § 25.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 19.

9 C.J.S. Banks and Banking § 10 et seq.