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Can you summarize Chapter 208-418 WAAC?
Financial Institutions, Department of (See also Titles 50, 419, and 460) > Fees charged to credit unions and other persons.
Short Summary
This document governs the fees charged to credit unions and other persons. It specifies the semiannual asset assessments charged by the director to credit unions, which are calculated based on the credit union’s total assets. The rates for the assessments vary based on the total assets of the credit union. The document also mentions that no rebates will be made to credit unions that cease to be state-chartered during the assessment period. However, credit unions converting to state charter will pay a prorated assessment for the conversion period. Additionally, the director has the authority to charge hourly fees for examination and supervision of out-of-state or foreign credit unions if asset assessments are deemed inappropriate. The document also governs the fees charged for various examinations and investigations conducted by the division of credit unions, including information systems and technology examination fees, fraud investigation or examination fees, and examination fees for alternative share insurers and credit union service organizations. The director may also charge credit unions or other persons for the actual costs incurred by the division for examinations or investigations performed by third parties. Overall, this document establishes the fee structure applicable to credit unions and other persons in Washington.
Whom does it apply to?
Credit unions and other persons
What does it govern?
Fees charged to credit unions and other persons
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Washington