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1994 SESSION

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CHAPTER 6 An Act to amend and reenact § 6.1-32.25 of the Code of Virginia, relating to the Trust Company Act; fees. [H 187] Approved March 3, 1994

Be it enacted by the General Assembly of Virginia:

1. That § 6.1-32.25 of the Code of Virginia is amended and reenacted as follows:

§ 6.1-32.25. Fees.

In order to defray the costs of their examination, supervision and regulation, every trust company shall pay an annual fee calculated in accordance with a schedule set by the Commission. The schedule shall bear a reasonable relationship to the ordinary costs of their examinations and to other factors relating to their supervision and regulation a fee in the same amount as that prescribed for the supervision and regulation of trust departments by § 6.1-94. Each trust company shall also pay such additional or special costs as the Commission may incur in connection with its examination.

For investigating an application for authority to establish a branch office pursuant to § 6.1-32.21, the Commission shall charge a fee of $1,800.

For investigating an application to change the location of a principal office or branch office, the Commission shall charge a fee of $1,000.

For investigating an application made pursuant to § 6.1-32.19, the Commission shall charge a fee of $7,000.