§ 54-109.14.  Fees and penalties.

(a) Each credit union subject to supervision and examination by the Administrator, including credit unions in process of voluntary liquidation, shall pay into the office of the Administrator twice each year, in the months of January and July, supervision fees. A credit union that liquidates or converts its charter shall pay into the office of the Administrator, to the date of dissolution, pro rata supervision fees. Examination fees shall be paid promptly upon receipt of the examination report and invoice.

The Administrator, subject to the advice and consent of the Commission, shall, on or before December 1 of each year, determine and fix the scale of supervisory and examination fees to be assessed during the next calendar year.

No credit union shall be required to pay any supervisory fee until the expiration of 12 months from the date of the issuance of a certificate of incorporation to the credit union.

(b) The Administrator may charge other fees for service and supervision as approved by the Commission. Moneys collected under this section shall be deposited with the State Treasurer of North Carolina and expended, under the terms of the Executive Budget Act, to defray expenses incurred by the office of the Administrator in carrying out its supervisory and auditing functions.

(c) All revenue derived from fees will be placed into a special account to be administered solely for the operation of the Division.

(d) The Administrator may waive any fee, in whole or in part, for any credit union or group of credit unions at the Administrator's discretion.

(e) The Administrator may assess a civil penalty not to exceed five hundred dollars ($500.00) for the violation of any section of Articles 14A to 15A of this Chapter or any rule adopted by the Administrator. The clear proceeds of any civil penalty assessed under this subsection or pursuant to any other authority in Articles 14A to 15A of this Chapter shall be remitted to the Civil Penalty and Forfeiture Fund in accordance with G.S. 115C-457.2.  (1915, c. 115, s. 7; C.S., s. 5238; 1925, c. 73, ss. 3, 7; 1935, c. 87; 1941, c. 235; 1955, c. 1135, ss. 3, 4; 1957, c. 989, s. 7; 1965, c. 956, ss. 1, 23, 24; 1969, c. 69, s. 6; 1971, c. 864, s. 17; 1973, c. 199, s. 12; 1975, c. 538, s. 1; 1977, c. 559, ss. 2, 3; 2026-31, s. 11(b).)