§ 1071 Bank Office Certificate Fees

This law says the commissioner must give a bank a two‑part certificate to open an office, and the bank has to pay $25 for each certificate it gets.

Key Takeaways

•The commissioner issues a duplicate (two‑copy) certificate for each bank office.
•Each certificate costs the bank $25.
•The total cost is simply $25 multiplied by how many certificates the bank receives.

Example

A bank wants to open a new branch in a town.

The bank asks the commissioner for a certificate. The commissioner sends two copies of the certificate, and the bank pays $25 for that certificate.

How to Calculate

Total Fee = $25 × Number of Certificates Issued

Count how many certificates the bank is getting.
Multiply that number by $25.
The product is the amount the bank must pay.

A bank applies for three separate office certificates.

Result: Total Fee = $25 × 3 = $75

The commissioner shall issue a certificate in duplicate authorizing a bank to establish and maintain an office. A bank shall pay a fee of twenty-five dollars ($25) for every certificate the commissioner issues pursuant to this section. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

This law says the commissioner must give a bank a two‑part certificate to open an office, and the bank has to pay $25 for each certificate it gets.

Key Takeaways

•The commissioner issues a duplicate (two‑copy) certificate for each bank office.
•Each certificate costs the bank $25.
•The total cost is simply $25 multiplied by how many certificates the bank receives.

Example

A bank wants to open a new branch in a town.

The bank asks the commissioner for a certificate. The commissioner sends two copies of the certificate, and the bank pays $25 for that certificate.

How to Calculate

Total Fee = $25 × Number of Certificates Issued

Count how many certificates the bank is getting.
Multiply that number by $25.
The product is the amount the bank must pay.

A bank applies for three separate office certificates.

Result: Total Fee = $25 × 3 = $75

Key Takeaways

Example

How to Calculate

Key Terms

References

§ 1071 Bank Office Certificate Fees

Key Takeaways

Example

How to Calculate

Key Terms

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References