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HomeFinancial CodeDiv. 5Ch. 3Art. 4§ 14350 Credit Union Assessment Fees

§ 14350 Credit Union Assessment Fees

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 14350 Credit Union Assessment Fees

This law lets the state regulator charge credit unions a yearly fee based on their size to cover the regulator's costs and build a safety fund.

Key Takeaways

  • •Credit unions pay a yearly fee based on their total assets.
  • •The fee covers the state's oversight costs and creates a reserve for emergencies.
  • •The amount each credit union pays is proportional to its size relative to all credit unions.

Example

A small credit union with $10 million in assets must pay a portion of the state's credit union oversight budget each year.

The regulator looks at how much the credit union is worth compared to all credit unions and asks it to pay a share of the department's expenses and a small reserve for unexpected problems.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 14350 Credit Union Assessment Fees

The commissioner shall annually levy on and collect from credit unions holding certificates authorizing them to act as credit unions, pro rata on the basis of total assets, an assessment in a total amount that is sufficient in the commissioner’s opinion to (a) meet the expenses of the department in administering this division and other laws relating to credit unions or the credit union business that are not otherwise provided for and (b) provide a reasonable reserve for contingencies. (Repealed (Jan. 1, 1999) and added by Stats. 1998, Ch. 539, Sec. 9. Effective January 1, 1999. Adding action operative July 1, 1999, by Sec. 47 of Ch. 539.)

Last verified: January 11, 2026

Key Terms

commissionercredit unionspro ratatotal assetsassessmentreasonable reserve for contingencies

Related Statutes

  • § 14351 Credit Union Assessment Rates
  • § 14200 Credit Union Oversight Powers
  • § 14202 Credit Union Activity Authorization
  • § 14352 Credit Union Asset Assessment
  • § 14355 Credit Union Fund Deposits

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14350.
View Official Source