S-5007.1  _______________________________________________

                    SUBSTITUTE SENATE BILL 6746

          _______________________________________________

State of Washington      54th Legislature     1996 Regular Session

By Senate Committee on Financial Institutions & Housing (originally sponsored by Senator Prentice)

Read first time 02/02/96.

Examining credit unions.

    AN ACT Relating to the credit unions examination fund; and creating a new section.

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

NEW SECTION. Sec. 1.  The director of financial institutions is authorized to charge fees 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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