§ 14351

14351. (a) The amount of the annual assessment on any credit union holding a certificate authorizing it to act as a credit union shall be the greater of (1) two thousand dollars ($2,000) or (2) the sum of the products determined by multiplying (A) increments of the credit union’s total assets by (B) percentages of the base assessment rate, according to the following table: Percentage of BaseAssessment RateTotal Assets$0–$3,000,00085.0%$3,000,000–$6,000,00025.0%$6,000,000–$10,000,00013.0%$10,000,000–$100,000,00012.5%$100,000,000–$500,000,000 12.25%$500,000,000–$1,000,000,00012.0%$1,000,000,000–$2,000,000,00011.5%$2,000,000,000–$5,000,000,000 8.0%$5,000,000,000–$10,000,000,000 3.5%Excess over $10,000,000,000 3.0%(b) The base assessment rate for each annual assessment shall be fixed by the commissioner but shall not exceed two dollars and twenty cents ($2.20) per one thousand dollars ($1,000) of total assets.(Amended by Stats. 2013, Ch. 115, Sec. 1. (AB 1282) Effective January 1, 2014.)