Section 1075.130  Supervisory Fees

a)         The Director shall receive, and there shall be paid to the Director by each savings bank and each service corporation operating under the Act, a fixed fee of $600, plus a variable fee based on the total assets of each savings bank and each service corporation as shown on the financial report filed with the Director for the reporting period of the prior calendar year ended December 31, 1999 and every year thereafter according to the following schedule:

28.82¢ per $1,000 of the first $2,000,000 of total assets,

26.2¢  per $1,000 of the next $3,000,000 of total assets,

23.58¢ per $1,000 of the next $5,000,000 of total assets,

19.65¢  per $1,000 of the next $15,000,000 of total assets,

17.03¢  per $1,000 of the next $25,000,000 of total assets,

14.41¢ per $1,000 of the next $50,000,000 of total assets,

11.79¢ per $1,000 of the next $400,000,000 of total assets,

7.86¢  per $1,000 of the next $500,000,000 of total assets, and

5.24¢  per $1,000 of all total assets in excess of $1,000,000,000 of such savings bank or service corporation.

When service corporations and/or finance subsidiaries are owned by the savings bank, the owned assets may be consolidated with the assets of the savings bank for calculation of this fee. If the finance subsidiary is not active and is in the form of a Collateralized Mortgage Obligation or a similar vehicle (Mortgage Backed Securities, Real Estate Mortgage Income Certificates, and other securitized debt instruments), the Director shall waive that portion of the fee attributed to the finance subsidiary.

b)         Each savings bank shall pay to the Department a fee of $600 for each approved branch office or facility office established under Subpart G of this Part. The determination of such fees shall be made annually as of the close of business of the prior calendar year ended December 31.

c)         One fourth of the sum of the supervisory fee so determined shall be remitted as billed by the Director. Such fees shall be for the respective current year.  Fees payable for the third and fourth calendar quarters of 2003 shall be recalculated using total assets as of December 31, 2002, and the amended fees provided in subsections (a) and (b) of this Section.  One fourth of the sum of the supervisory fee determinded based on the amended fee schedule shall be remitted as billed for the third and fourth calendar quarters of 2003.

d)         Subject to the requirements of subsection (c) of this Section for the third and fourth quarters of 2003, supervisory fees shall be determined by the Director following the close of the respective calendar year; however, the dates of billings shall not prejudice the validity of an invoice for any such fees billed at a later date.

e)         In the event the state charter is converted or otherwise surrendered during the year, the Director shall determine the supervisory fee based on the total assets of the savings bank as of the month-end immediately preceding the cancellation of the state charter, except that the measurement date may be another date at the discretion of the Director in the event a savings bank elects to liquidate. In determining whether to set another measurement date, the Director shall consider the following elements:  whether the savings bank is undergoing a planned liquidation (where a savings bank elects to not continue operations), or, the savings bank has transferred significant assets (more than .5% of the total assets at the previous measurement date).

f)          The Director may waive part of the first annual supervisory fee specified under subsection (a), for a savings and loan association that has paid the fee for conversion to federal charter as required under the rules promulgated pursuant to the Illinois Savings and Loan Act of 1985 (38 Ill. Adm. Code 400.110(b)). Such waiver, if any is granted, shall be in accordance with the following schedule:

1)         for conversions that were completed less than twelve months but greater than six months before the issuance of a savings bank charter, 25% may be waived; and

2)         for conversions that were completed less than six months before the issuance of a savings bank charter, 50% may be waived.

(Source:  Amended at 30 Ill. Reg. 19068, effective December 1, 2006)