Ariz. Admin. Code § 2-14-107

Current through Register Vol. 30, No. 52, December 27, 2024

Section R2-14-107 - Fee Assessment

A.Under A.R.S. § 35-1212, the collateral pool is required to be self-supporting. The Administrator is authorized to assess fair and equitable fees from eligible depositories.

B.Annual assessment. The Administrator shall annually assess an eligible depository required under R2-14-102(B) to pledge eligible collateral to the collateral pool an amount that reflects the eligible depository's daily average portion of uninsured public monies on deposit.

1. The Administrator shall determine the total amount to be assessed based on expenses incurred to administer and enforce the collateral pool during a calendar year.

2. The Administrator shall inform each eligible depository of the depository's assessed amount by January 15 of each year.

3. An eligible depository shall pay the assessed amount by February 15 of each year.

4. If an eligible depository enters or leaves the collateral pool during a calendar year, the Administrator shall make or refund a partial assessment.

C.Additional assessment. When an eligible depository fails to comply fully with A.R.S. Title 35, Chapter 10 or this Chapter, the Administrator incurs extra expenses to administer and enforce the collateral pool. When this happens, the Administrator shall assess an additional fee from the non-complying eligible depository equal to the amount of extra expense incurred by the Administrator.

Ariz. Admin. Code § R2-14-107

Adopted by final rulemaking at 21 A.A.R. 233, effective 4/4/2015.