32-8-205. Application, charter, and renewal fee. (1) An applicant for a state charter shall pay a fee established by the board by rule. The application fee must be commensurate with the cost of conducting a background check on the person applying for the charter.
     (2) A successful applicant for a state charter shall pay to the department an initial charter fee of $50,000, less the amount paid for the application fee pursuant to subsection (1).
     (3) A depository shall pay an annual charter renewal fee in an amount set by the board by rule but not to exceed $10,000.
     (4) Fees collected pursuant to subsections (1) through (3) must be deposited in the foreign capital depository account established in 32-8-306.

     History: En. Sec. 12, Ch. 382, L. 1997.