Quarterly March 31st May 1st

June 30th August 1st

September 30th November 1st

December 31st February 1st

Semiannually June 30th August 1st

December 31st February 1st

The superintendent shall immediately notify the financial institution of the assessment. The assessment must be paid to the Treasurer of State within 10 days following the assessment date.

Sec. 7. 9-B MRSA §214, sub-§2-B, as amended by PL 2001, c. 211, §3, is further amended to read:

2-B. Assessment on nondepository trust companies. Nondepository trust companies that are not affiliated with a financial institution shall pay an annual assessment at the annual rate of not less than $2,000 or an amount determined by the superintendent of at least 6¢ for every $10,000 of fiduciary assets under its management, custody or care. The superintendent may further define by rule fiduciary assets under management, custody or care or change the minimum assessment whenever economic conditions warrant such a change. Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter II-A 2-A. These assessments must be paid annually by February 15th of each year on fiduciary assets outstanding December 31st of the prior year in accordance with subsection 2, paragraph B.

Sec. 8. 9-B MRSA §214, sub-§2-C, as enacted by PL 2001, c. 211, §4, is amended to read:

2-C. Assessment on uninsured bank or merchant bank. If an uninsured bank or merchant bank predominately engages in the business of a nondepository trust company, then the uninsured bank or merchant bank shall pay an annual assessment as prescribed in subsection 2-B. Otherwise, an uninsured bank or merchant bank shall pay an annual assessment as prescribed in subsection 2.

Sec. 9. 9-B MRSA §214, sub-§4, as enacted by PL 1975, c. 500, §1, is amended to read:

4. Penalty. Any financial institution which shall fail that fails to make such the payments required under this section within the time specified shall be is subject to a penalty of not