§ 6.1-2. Use of funds collected under this title
A. All fees assessed under any provision of this title and paid into the state treasury shall be deposited to a special fund designated "Financial Institutions Special Fund - State Corporation Commission," and out of such special fund and the unexpended balance thereof shall be appropriated the sums necessary for the regulation, supervision and examination of all entities subject to regulation under this title. The Commission shall have the authority to maintain a reasonable margin in the nature of a reserve in the Financial Institutions Special Fund for the expenses of operating the Bureau of Financial Institutions.
B. In order to provide additional funds for the operation of the Bureau of Financial Institutions, the Commission is hereby authorized to increase the fees and assessments for the examination and supervision of banks, trust companies, savings institutions, industrial loan associations, credit unions, consumer finance licensees and mortgage lenders and brokers to the extent of fifty percent of the fees and assessments provided for in §§ 6.1-32.25, 6.1-94, 6.1-194.85, 6.1-225.5, 6.1-237.4, 6.1-299.1 and 6.1-420.
(Code 1950, § 6-4; 1966, c. 584; 1974, c. 183; 1987, cc. 556, 558; 1988, c. 303; 1993, cc. 419, 432; 1994, c. 312.)
Sections: Previous 6.1-1 6.1-1.1 6.1-2 6.1-2.1 6.1-2.2 6.1-2.5 6.1-2.6 6.1-2.6:1 6.1-2.7 6.1-2.8 6.1-2.9 6.1-2.9:1 6.1-2.9:2 6.1-2.9:3 6.1-2.9:4 NextLast modified: April 16, 2009