A. Each consumer credit bank shall annually pay to the director a supervision fee, calculated on the basis of total assets as of December 31 of the immediately previous year:

Terms Used In New Mexico Statutes 58-1A-7

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

Total assets (000):                                                         Assessment:

Over             But not             This                     Plus                         Of excess over                 amount                                                 over (000) 0            200,000                 7,500                 0.0000250             100,000 200,000            500,000                 10,000                 0.0006667             200,000 500,000         1,000,000                 30,000                 0.0000500             500,000 1,000,000         2,000,000                 55,000                 0.0000400         1,000,000 2,000,000                                         95,000                 0.0000300         2,000,000 B. The fee shall be paid on or before March 1 of each year. For failure to pay the supervisor fee when due unless excused for cause by the director, the consumer credit bank shall pay to the financial institutions division of the regulation and licensing department one hundred dollars ($100) for each day of delinquency.

C. The director shall examine the condition of the consumer credit bank. A report of examination shall be sent to the board of directors of the consumer credit bank.