Chap. 8.—An ACT to amend and re-enact Section 58, as amended, of Chapter 507,
of the Acts of Assembly of 1928, approved March 27, 1928, known as the Vir-
ginita Banking Act, relating to fees for examinations. [S B 6]

Approved February 11, 1946

Be it enacted by the General Assembly of Virginia:

1. That section fifty-eight, as amended, of chapter five hundred
seven of the Acts of Assembly of nineteen hundred twenty-eight, ap-
proved March twenty-seven, nineteen hundred twenty-eight, known as
the Virginia Banking Act, be amended and re-enacted, as follows:

Section 58. Fees for examination—Every such bank shall pay
for its examination provided for by section fifty-three of this act, fees as
follows:

For the examination of banks for a period of one year, a minimum fee
of seventy-five dollars per bank, which shall cover the first fifty thousand
dollars of assets or less, to which shall be added, in the case of each bank,
according to its total assets, as shown by the statement of financial con-
dition made to the State Corporation Commission next preceding June
the first as follows: For the amount by which its total assets exceed fifty
thousand dollars and do not exceed five hundred thousand dollars, three
dollars per ten thousand dollars or fraction thereof; for the amount by
which its total assets exceed five hundred thousand dollars and do not
exceed two and a half million dollars, one dollar and fifty cents per ten
thousand dollars or fraction thereof; for the amount by which its total
assets exceed two and a half million dollars and do not exceed five mil-
lion dollars, one dollar and fifty cents per twenty thousand dollars or
fraction thereof; for the amount by which its total assets exceed five mil-
lion dollars, and do not exceed ten million dollars, one dollar and fifty
cents per forty thousand dollars or fraction thereof; for all assets over
ten million dollars, one dollar and fifty cents per one hundred thousand
dollars or fraction thereof; provided, however, that in the case of banks,
the total assets of which do not exceed one hundred thousand dollars of
total resources, the fee shall not exceed sixty dollars.

Every bank having a branch or branches shall be assessed not more
than seventy-five dollars per branch, and for the examination of trust
departments of state banks and trust companies, the Bureau of Banking
of the State Corporation Commission shall charge at the rate of ten dol-
lars ($10.00) per day per man and expenses which fees and charges shall
be in addition to fees hereinbefore prescribed. All such fees and charges
shall be assessed against each such bank by the State Corporation Com-
mission on the first day of July of each year and shall be paid into the
State treasury on or before the thirty-first day of July following. All
fees so assessed shall be a lien on the assets of the bank, and if not paid
within thirty days from the date of said notice may be recovered in any
court of the county or city in which such bank or institution is located
having original jurisdiction of civil cases, on motion of and in the name
of the State Corporation Commission. The State Corporation Com-
mission shall mail the assessment to each bank on or before July first of
each year and give advice thereof to the Comptroller and it shall be the
duty of the Comptroller to furnish the State Corporation Commission
promptly with a list of the banks which fail to pay the assessment on or
before July thirty-first, provided, however, that if the Commission is of
the opinion that the amounts of the several charges and fees herein fixed
will produce a greater sum than required to cover the costs and expenses
to be paid thereby, the Commission may, in its discretion, reduce on a pro.
rata basis the amount of said charges so fixed herein.

Every bank authorized to begin business after the first day of July
and before the thirty-first day of December in any one year, shall pay the
full amount of fees prescribed above ; and every bank authorized to begin
business after the first day of January and before the thirtieth day of June
of any year, shall pay one-half of the fees prescribed above. Such fees
shall be based on the total resources of such bank at its first examination
after it has been authorized to begin business, and at that time collected
by the Commissioner of Banking and paid into the treasury as other
funds arising under the provisions of this act.

All fees paid into the State treasury as herein provided shall he
credited to a fund designated as ‘‘Banking Fund-State Corporation Com-
mission” and out of such fund and the unexpended balance thereof, shall
be appropriated the sum required for the proper examination of State
banks and trust companies. The Governor is hereby authorized, in his
discretion, to increase the annual appropriation made to the State Cor-
poration Commission for examination of banks and trust companies to an
amount not to exceed existing balances in the Banking Fund aforesaid.

Every national bank which is now or may be designated as a State
depository, shall, so long as it acts as such, be subject to the examination
provided for State banks, when, in the opinion of the State Treasurer,
such examination is necessary for the protection of the State but no fees
or charges shall be imposed upon national banks for such examinations.