Chap. 180.—An ACT to amend and re-enact Section 58 of an act entitled “An act
to revise, collate and codify into one act the general statutes of the Common-
wealth relating to banks and banking, which act shall constitute and be desig-
nated as the Virginia Banking Act, and to repeal all Code sections and all acts
and parts of acts inconsistent therewith and to provide penalties for the violation
thereof.”, approved March 27, 1928, relating to fees for examination, and to
repeal all acts and parts of acts inconsistent with said section as so amended.

[H B 279]
Approved March 11, 1942
1. Beit enacted by the General Assembly of Virginia, That section

fifty-eight of an act entitled “An act to revise, collate and codify into one
act the general statutes of the Commonwealth relating to banks and bank-
ing, which act shall constitute and be designated as the Virginia Banking
Act, and to repeal all Code sections and all acts and parts of acts incon-
sistent therewith and to provide penalties for the violations thereof.”, ap-
proved March twenty-seventh, nineteen hundred arid twenty-eight, be
amended and re-enacted 'so as to read 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 thou-
sand 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
condition 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 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 or fraction thereof; for the amount by which its total assets
exceed two and a half million dollars and do not exceed five million dol-
lars, one dollar and fifty cents per twenty thousand dollars or fraction
thereof; for the amount by which its total assets exceed five million dol-
lars, and do not exceed ten million dollars, one dollar and fifty cents per
forty thousand 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 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 ($10.00) dollars
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
againt each such bank by the State Corporation Commission 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 jurisdic-
tional of civil cases, on motion of and in the name of the State Corporation
Commission. The State Corporation Commission shall mail the assess-
merit 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, pro-
vided, 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 com-
mission 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 be-
gin 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 examina-
tion after it has been authorized to begin business, and at that time col-
lected 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 be
credited to a fund designated as “Banking Fund—State Corporation
Commission” and out of such fund and the unexpended balance thereof,
shall be appropriated the sums 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
Corporation Commission for examination of banks and trust companies
to an amount not to exceed existing balances in the Banking Fund afore-
said.

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.

2. That all acts, parts of acts, Code sections and parts thereof in-
consistent with this act be, and the same hereby are repealed to the extent
of such inconsistency. ,