H-4635.1          _______________________________________________

                                  HOUSE BILL 2939

                  _______________________________________________

State of Washington              54th Legislature             1996 Regular Session

By Representative L. Thomas

Read first time 01/30/96.  Referred to Committee on Financial Institutions & Insurance.

Examining credit unions.

     AN ACT Relating to the credit unions examination fund; and amending 1995 2nd sp.s. c 18 s 125 (uncodified).

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

     Sec. 1.  1995 2nd sp.s. c 18 s 125 (uncodified) is amended to read as follows:

FOR THE DEPARTMENT OF FINANCIAL INSTITUTIONS

Securities Regulation Account

     Appropriation.......................................... $             4,515,000

The director of financial institutions is authorized to increase fees charged to credit unions and other persons subject to regulation of the department of financial institutions under chapters 31.12, 31.12A, and 31.13 RCW in order to cover the costs of the operation of the department's division of credit unions and to establish a reasonable reserve for the division.  The fees shall be set by the director so that the projected revenue to the department's dedicated nonappropriated credit unions examination fund in fiscal year 1997 does not exceed $1,120,500, plus a one-time special assessment of $184,000.

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