23 CRR-NY 101.1NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 23. FINANCIAL SERVICES
CHAPTER I. REGULATIONS OF THE SUPERINTENDENT OF FINANCIAL SERVICES
PART 101. BANKING DIVISION ASSESSMENTS
23 CRR-NY 101.1
23 CRR-NY 101.1
101.1 Background.
Pursuant to the Financial Services Law (FSL), the former New York State Banking Department and the former New York State Insurance Department were consolidated on October 3, 2011 into the Department of Financial Services (Department). Prior to the consolidation, assessments of institutions subject to the Banking Law (Banking Law) were governed by former section 17 of the Banking Law. Effective October 3, 2011, assessments are governed solely by section 206 of the FSL. FSL section 206 provides that all expenses (including, but not limited to, compensation, lease costs and other overhead costs) of the department attributable to institutions subject to the Banking Law are to be charged to, and paid by, such regulated institutions (regulated entities). The superintendent is authorized to assess regulated entities for its total costs attributable to such institutions in such proportions as the superintendent shall deem just and reasonable. This regulation sets forth the basis for allocating such expenses among regulated entities and the process for making such assessments.
23 CRR-NY 101.1
Current through June 15, 2022
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.