AL
Alabama Senate Bill SB135

Alabama 2022 Regular Session

Alabama Senate Bill SB135 Compare Versions

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11 1 SB135
2-2 216606-2
2+2 216606-1
33 3 By Senator Givhan
44 4 RFD: Governmental Affairs
55 5 First Read: 01-FEB-22
66
7-Page 0 SB135
8-1 SB135
9-2
10-3
11-4 ENROLLED, An Act,
12-5 Relating to the Alabama Credit Union Administration;
13-6 to amend Section 5-17-7 of the Code of Alabama 1975, to
14-7 authorize the travel expenses of examiners traveling for the
15-8 purposes of their official duties as employees of the Alabama
16-9 Credit Union Administration to be set and paid by in
17-10 accordance with policies adopted by the Administrator of the
18-11 Alabama Credit Union Administration; and to exempt the
19-12 examiners and the Alabama Credit Union Administration from the
20-13 provisions of Sections 36-7-20 and 36-7-22, Code of Alabama
21-14 1975.
22-15 BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
23-16 Section 1. Section 5-17-7 of the Code of Alabama
24-17 1975, is amended to read as follows:
25-18 "§5-17-7.
26-19 "(a) All state chartered credit unions shall pay an
27-20 annual operating fee and, if deemed necessary by the
28-21 administrator, an assessment, the exact amount of which shall
29-22 be fixed from time to time by the Administrator of the Alabama
30-23 Credit Union Administration.
31-24 "(b) Except as hereinafter provided, the annual
32-25 operating fee set by the administrator shall not exceed the
33-Page 1 SB135
34-1 fee calculated by use of the following scale or the
35-2 administrator may authorize payment of the schedule used by
36-3 federal credit unions if the administrator determines it to be
37-4 appropriate:
38-5 "(1) Credit unions having total assets of less than
39-6 $500,000.00 shall pay a fee not in excess of $.12 for each
40-7 $100.00 of assets, subject to a minimum of $200.00.
41-8 "(2) Credit unions with assets of $500,000 but not
42-9 in excess of $1,000,000 shall pay a fee of $600 plus $.05 per
43-10 $100 of assets over $500,000 but not in excess of $1,000,000;
44-11 credit unions with assets of $1,000,000 but not in excess of
45-12 $5,000,000 shall pay a fee of $850 plus $.035 per $100 of
46-13 assets of $1,000,000 but not in excess of $5,000,000; credit
47-14 unions with assets of $5,000,000 but not in excess of
48-15 $10,000,000 shall pay a fee of $2,250 plus $.02 per $100 of
49-16 assets over $5,000,000 but not in excess of $10,000,000;
50-17 credit unions with assets of $10,000,000 but not in excess of
51-18 $20,000,000 shall pay a fee of $3,250 plus $.018 per $100 on
52-19 assets over $10,000,000 but not in excess of $20,000,000;
53-20 credit unions with assets of $20,000,000 but not in excess of
54-21 $50,000,000 shall pay a fee of $5,050 plus $.016 per $100 on
55-22 assets over $20,000,000 but not in excess of $50,000,000;
56-23 credit unions with assets of $50,000,000 but not in excess of
57-24 $100,000,000 shall pay a fee of $9,850 plus $.013 per $100 on
58-25 assets over $50,000,000 but not in excess of $100,000,000;
59-Page 2 SB135
60-1 credit unions with assets of $100,000,000 or more shall pay a
61-2 fee of $16,350 plus $.011 per $100 on all assets over
62-3 $100,000,000.
63-4 "(3) The annual operating fee for a corporate credit
64-5 union shall be set by the administrator and shall not exceed
65-6 the above scale.
66-7 "(c) Annually, the administrator may fix an annual
67-8 operating assessment to ensure that the Alabama Credit Union
68-9 Administration does not continue to operate in a deficit for
69-10 any given year. The assessment shall be approved by the Credit
70-11 Union Board of the Alabama Credit Union Administration. Any
71-12 credit union failing to pay the assessment within 30 days of
72-13 the notice of assessment may be charged a fine not to exceed
73-14 fifty dollars ($50) for each day that the assessment remains
74-15 unpaid.
75-16 "(d) The annual operating fee shall be paid on or
76-17 before the last day of January of each year, based upon the
77-18 assets of the credit union as of the end of the previous year.
78-19 Any credit union failing to pay the operating fee may be
79-20 charged a fine not to exceed fifty dollars ($50) for each day
80-21 that the fee remains unpaid.
81-22 "(e) Whenever application is made to the
82-23 Administrator of the Alabama Credit Union Administration for
83-24 permission to organize a credit union, the applicant shall at
84-25 the time of filing the certificate of organization with the
85-Page 3 SB135
86-1 Administrator of the Alabama Credit Union Administration pay a
87-2 fee not to exceed one thousand dollars ($1,000) for the
88-3 purpose of paying the costs incidental to the determination by
89-4 the Administrator of the Alabama Credit Union Administration
90-5 whether such certificate of organization shall be approved.
91-6 The Administrator of the Alabama Credit Union Administration
92-7 shall from time to time fix the exact charge to be made, but
93-8 in no event shall the charge exceed one thousand dollars
94-9 ($1,000). The provisions of this subsection shall not apply to
95-10 any existing credit union seeking charter conversion.
96-11 "(f) All fees collected under this section shall be
97-12 paid into the special fund set up by the State Treasurer. This
98-13 special fund shall be used to pay the salaries of the
99-14 officials and employees and the expenses of the Alabama Credit
100-15 Union Administration including the purchase of equipment,
101-16 vehicles, and supplies necessary for the examination and
102-17 supervision of credit unions and may be spent by the
103-18 Administrator of the Alabama Credit Union Administration for
104-19 the uses and purposes specified herein. The travel expenses of
105-20 examiners of the Alabama Credit Union Administration shall be
106-21 set and paid in accordance with internal policies of the
107-22 Alabama Credit Union Administration adopted by the
108-23 Administrator of the Alabama Credit Union Administration and
109-24 the Alabama Credit Union Administration and the examiners
110-25 shall be exempt from the provisions of Sections 36-7-20 and
111-Page 4 SB135
112-1 36-7-22. No taxes, fees, assessments, penalties, or other
113-2 revenues collected by the Alabama Credit Union Administration
114-3 shall be used for any purpose other than the expenses of
115-4 operating the Alabama Credit Union Administration.
116-5 "(g) All the jurisdiction, authority, powers, and
117-6 duties now conferred upon and imposed by law upon the
118-7 Superintendent of Banks and the Supervisor of the Credit Union
119-8 Bureau in relation to the management, control, regulation, and
120-9 general supervision of credit unions are hereby transferred
121-10 to, conferred upon, and imposed upon the Alabama Credit Union
122-11 Administration and administrator.
123-12 "(h) All assets primarily used by the Bureau of
124-13 Credit Unions, including books, records, documents, furniture,
125-14 equipment, and supplies are hereby transferred to the Alabama
126-15 Credit Union Administration. All funds in the special fund
127-16 previously maintained by the State Treasurer for the Bureau of
128-17 Credit Unions are hereby transferred to the Alabama Credit
129-18 Union Administration. All taxes, fees, assessments, penalties,
130-19 or other revenues owed to or collected by the Bureau of Credit
131-20 Unions are hereby transferred to the Alabama Credit Union
132-21 Administration. Any employee presently employed by the
133-22 Superintendent of Banks who is presently primarily involved
134-23 with the Bureau of Credit Unions shall be employed by the
135-24 Alabama Credit Union Administration."
136-Page 5 SB135
137-1 Section 2. This act shall become effective on the
138-2 first day of the third month following its passage and
139-3 approval by the Governor, or its otherwise becoming law.
140-Page 6 SB135
141-1
7+Page 0 1 216606-1:n:01/20/2022:FC/ma LSA2022-270
1428 2
1439 3
14410 4
145-President and Presiding Officer of the Senate
146-
14711 5
148-6 Speaker of the House of Representatives
149-SB1357
150-8 Senate 10-FEB-22
151-9 I hereby certify that the within Act originated in and passed
152-10 the Senate.
153-11
154-12 Patrick Harris,
155-13 Secretary.
156-14
12+6
13+7
14+8 SYNOPSIS: This bill would provide that the travel
15+9 expenses of examiners of the Alabama Credit Union
16+10 Administration would be set and paid in accordance
17+11 with policies adopted by the Administrator of the
18+12 Alabama Credit Union Administration and the
19+13 provisions of Sections 36-7-20 and 36-7-22 of the
20+14 Code of Alabama, would not apply.
15721 15
158-16
159-17 House of Representatives
160-18 Passed: 02-MAR-22
22+16 A BILL
23+17 TO BE ENTITLED
24+18 AN ACT
16125 19
162-20
163-21 By: Senator Givhan
164-Page 7
26+20 Relating to the Alabama Credit Union Administration;
27+21 to amend Section 5-17-7 of the Code of Alabama 1975, to
28+22 authorize the travel expenses of examiners traveling for the
29+23 purposes of their official duties as employees of the Alabama
30+24 Credit Union Administration to be set and paid by in
31+25 accordance with policies adopted by the Administrator of the
32+26 Alabama Credit Union Administration; and to exempt the
33+27 examiners and the Alabama Credit Union Administration from the
34+Page 1 1 provisions of Sections 36-7-20 and 36-7-22, Code of Alabama
35+2 1975.
36+3 BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
37+4 Section 1. Section 5-17-7 of the Code of Alabama
38+5 1975, is amended to read as follows:
39+6 "§5-17-7.
40+7 "(a) All state chartered credit unions shall pay an
41+8 annual operating fee and, if deemed necessary by the
42+9 administrator, an assessment, the exact amount of which shall
43+10 be fixed from time to time by the Administrator of the Alabama
44+11 Credit Union Administration.
45+12 "(b) Except as hereinafter provided, the annual
46+13 operating fee set by the administrator shall not exceed the
47+14 fee calculated by use of the following scale or the
48+15 administrator may authorize payment of the schedule used by
49+16 federal credit unions if the administrator determines it to be
50+17 appropriate:
51+18 "(1) Credit unions having total assets of less than
52+19 $500,000.00 shall pay a fee not in excess of $.12 for each
53+20 $100.00 of assets, subject to a minimum of $200.00.
54+21 "(2) Credit unions with assets of $500,000 but not
55+22 in excess of $1,000,000 shall pay a fee of $600 plus $.05 per
56+23 $100 of assets over $500,000 but not in excess of $1,000,000;
57+24 credit unions with assets of $1,000,000 but not in excess of
58+25 $5,000,000 shall pay a fee of $850 plus $.035 per $100 of
59+26 assets of $1,000,000 but not in excess of $5,000,000; credit
60+27 unions with assets of $5,000,000 but not in excess of
61+Page 2 1 $10,000,000 shall pay a fee of $2,250 plus $.02 per $100 of
62+2 assets over $5,000,000 but not in excess of $10,000,000;
63+3 credit unions with assets of $10,000,000 but not in excess of
64+4 $20,000,000 shall pay a fee of $3,250 plus $.018 per $100 on
65+5 assets over $10,000,000 but not in excess of $20,000,000;
66+6 credit unions with assets of $20,000,000 but not in excess of
67+7 $50,000,000 shall pay a fee of $5,050 plus $.016 per $100 on
68+8 assets over $20,000,000 but not in excess of $50,000,000;
69+9 credit unions with assets of $50,000,000 but not in excess of
70+10 $100,000,000 shall pay a fee of $9,850 plus $.013 per $100 on
71+11 assets over $50,000,000 but not in excess of $100,000,000;
72+12 credit unions with assets of $100,000,000 or more shall pay a
73+13 fee of $16,350 plus $.011 per $100 on all assets over
74+14 $100,000,000.
75+15 "(3) The annual operating fee for a corporate credit
76+16 union shall be set by the administrator and shall not exceed
77+17 the above scale.
78+18 "(c) Annually, the administrator may fix an annual
79+19 operating assessment to ensure that the Alabama Credit Union
80+20 Administration does not continue to operate in a deficit for
81+21 any given year. The assessment shall be approved by the Credit
82+22 Union Board of the Alabama Credit Union Administration. Any
83+23 credit union failing to pay the assessment within 30 days of
84+24 the notice of assessment may be charged a fine not to exceed
85+25 fifty dollars ($50) for each day that the assessment remains
86+26 unpaid.
87+Page 3 1 "(d) The annual operating fee shall be paid on or
88+2 before the last day of January of each year, based upon the
89+3 assets of the credit union as of the end of the previous year.
90+4 Any credit union failing to pay the operating fee may be
91+5 charged a fine not to exceed fifty dollars ($50) for each day
92+6 that the fee remains unpaid.
93+7 "(e) Whenever application is made to the
94+8 Administrator of the Alabama Credit Union Administration for
95+9 permission to organize a credit union, the applicant shall at
96+10 the time of filing the certificate of organization with the
97+11 Administrator of the Alabama Credit Union Administration pay a
98+12 fee not to exceed one thousand dollars ($1,000) for the
99+13 purpose of paying the costs incidental to the determination by
100+14 the Administrator of the Alabama Credit Union Administration
101+15 whether such certificate of organization shall be approved.
102+16 The Administrator of the Alabama Credit Union Administration
103+17 shall from time to time fix the exact charge to be made, but
104+18 in no event shall the charge exceed one thousand dollars
105+19 ($1,000). The provisions of this subsection shall not apply to
106+20 any existing credit union seeking charter conversion.
107+21 "(f) All fees collected under this section shall be
108+22 paid into the special fund set up by the State Treasurer. This
109+23 special fund shall be used to pay the salaries of the
110+24 officials and employees and the expenses of the Alabama Credit
111+25 Union Administration including the purchase of equipment,
112+26 vehicles, and supplies necessary for the examination and
113+27 supervision of credit unions and may be spent by the
114+Page 4 1 Administrator of the Alabama Credit Union Administration for
115+2 the uses and purposes specified herein. The travel expenses of
116+3 examiners of the Alabama Credit Union Administration shall be
117+4 set and paid in accordance with internal policies of the
118+5 Alabama Credit Union Administration adopted by the
119+6 Administrator of the Alabama Credit Union Administration and
120+7 the Alabama Credit Union Administration and the examiners
121+8 shall be exempt from the provisions of Sections 36-7-20 and
122+9 36-7-22. No taxes, fees, assessments, penalties, or other
123+10 revenues collected by the Alabama Credit Union Administration
124+11 shall be used for any purpose other than the expenses of
125+12 operating the Alabama Credit Union Administration.
126+13 "(g) All the jurisdiction, authority, powers, and
127+14 duties now conferred upon and imposed by law upon the
128+15 Superintendent of Banks and the Supervisor of the Credit Union
129+16 Bureau in relation to the management, control, regulation, and
130+17 general supervision of credit unions are hereby transferred
131+18 to, conferred upon, and imposed upon the Alabama Credit Union
132+19 Administration and administrator.
133+20 "(h) All assets primarily used by the Bureau of
134+21 Credit Unions, including books, records, documents, furniture,
135+22 equipment, and supplies are hereby transferred to the Alabama
136+23 Credit Union Administration. All funds in the special fund
137+24 previously maintained by the State Treasurer for the Bureau of
138+25 Credit Unions are hereby transferred to the Alabama Credit
139+26 Union Administration. All taxes, fees, assessments, penalties,
140+27 or other revenues owed to or collected by the Bureau of Credit
141+Page 5 1 Unions are hereby transferred to the Alabama Credit Union
142+2 Administration. Any employee presently employed by the
143+3 Superintendent of Banks who is presently primarily involved
144+4 with the Bureau of Credit Unions shall be employed by the
145+5 Alabama Credit Union Administration."
146+6 Section 2. This act shall become effective on the
147+7 first day of the third month following its passage and
148+8 approval by the Governor, or its otherwise becoming law.
149+Page 6