The Florida Senate

655.047  Assessments; financial institutions.--

(1)  Each state financial institution shall pay to the department a semiannual assessment based on the total assets as shown on the statement of condition of the financial institution on the last business day in December and the last business day in June of each year.

(2)  The mailing of a semiannual assessment must be postmarked on or before January 31 and July 31 of each year. The department may levy a late payment penalty of up to $100 per day or part thereof that a semiannual assessment payment is overdue, unless it is excused for good cause. However, for intentional late payment of a semiannual assessment, the department shall levy an administrative fine of up to $1,000 a day for each day the semiannual assessment is overdue.

(3)  The assessments required by this section cover the 6-month period following the first day of the month in which they are due. The department may prorate the amount of the semiannual assessment; however, no portion of a semiannual assessment is refundable.

History.--s. 3, ch. 90-197; s. 1, ch. 91-307; ss. 1, 25, ch. 92-303.