TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE
PART 397 CORPORATE FIDUCIARY RECEIVERSHIP ACCOUNT
SECTION 397.50 ALTERNATE FEE ASSESSMENT TO AVOID EXCESS ACCUMULATION IN ACCOUNT
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE
PART 397 CORPORATE FIDUCIARY RECEIVERSHIP ACCOUNT
SECTION 397.50 ALTERNATE FEE ASSESSMENT TO AVOID EXCESS ACCUMULATION IN ACCOUNT
Section 397.50 Alternate Fee Assessment to Avoid Excess Accumulation in Account
Notwithstanding any other Section of this Part, if for any quarter, the balance of the Account is at a level that fees to be collected under Section 397.30(a) of this Part would cause the balance to exceed the maximum amount established by Section 5-10 of the Act, a fee will be assessed on all corporate fiduciaries instead of the fees set forth in Section 397.30, based on the following formula:
|
Fee to be paid by each corporate fiduciary |
= |
D |
|
A |
(Source: Amended at 26 Ill. Reg. 1677, effective January 23, 2002)