Section 1075.140  Adjusted Supervisory Fees

a)         There shall be paid to the Department an additional fee as an adjustment to the supervisory fee specified in Section 1075.130 of this Part, to be based upon the difference between the total assets of each savings bank and each service corporation as shown by its financial report filed with the Director for the reporting period of the calendar year ended December 31 on which the supervisory fee was based, and the total assets of each savings bank and each service corporation as shown by its financial report filed with the Director for the reporting period of the calendar year ended December 31 in which the quarterly payments referred to in Section 1075.130 of this Part are made 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 the savings bank or service corporation.

In the situation where 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, the Director shall waive that portion of the fee attributed to the finance subsidiary.

b)         Adjusted supervisory fees shall be remitted as billed by the Director. In the event the total assets of each savings bank and each service corporation as reported on the earlier financial report are more than the total assets as reported on the later annual report, the Director shall credit the next quarterly remittance of the supervisory fee in the same proportion.

c)         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).

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