RULES AND REGULATIONS
DEPARTMENT OF BANKING AND SECURITIES
[ 10 PA. CODE CH. 5 ]
Corrective Amendment to 10 Pa. Code § 5.6
[44 Pa.B. 5463]
[Saturday, August 16, 2014]
The Department of Banking and Securities has discovered a discrepancy between the agency text of 10 Pa. Code § 5.6 (regarding implementation schedule) as deposited with the Legislative Reference Bureau and the official text as published at 44 Pa.B. 5010, 5017 (July 26, 2014). The Office of General Counsel, the Independent Regulatory Review Commission, the House Commerce Committee, the Senate Banking and Insurance Committee and the Office of Attorney General approved § 5.6(b)(1)—(3) with blanks instead of dates in the implementation schedule. The Department of Banking and Securities provided incorrect dates to the Legislative Reference Bureau for § 5.6(b)(1)—(3). This corrective amendment returns § 5.6(b)(1)—(3) as approved by the previously-listed entities.
Therefore, under 45 Pa.C.S. § 901: The Department of Banking and Securities has deposited with the Legislative Reference Bureau a corrective amendment to 10 Pa. Code § 5.6. The corrective amendment to 10 Pa. Code § 5.6 is effective July 26, 2014, the effective date of adoption of the final-form rulemaking adopting this section.
The correct version of 10 Pa. Code § 5.6 appears in Annex A.
TITLE 10. BANKING AND SECURITIES
PART I. GENERAL PROVISIONS
CHAPTER 5. ASSESSMENTS
§ 5.6. Implementation schedule.
(a) General rule. The Department will provide an implementation schedule for banks, bank and trust companies, savings banks, savings associations and trust companies to adjust to the assessments generated by this chapter.
(b) Implementation schedule. Banks, bank and trust companies, savings banks, savings associations and trust companies shall pay assessments according to the following implementation schedule:
(1) Seventy percent of the total assessment calculated by §§ 5.2, 5.3 and 5.5 (relating to semiannual assessment for banks, bank and trust companies, savings banks and savings associations; semiannual assessment for trust companies; and adjustments to assessments; invoicing) for the first 12 months after ______ .
(2) Eighty-five percent of the total assessment calculated by §§ 5.2, 5.3 and 5.5 for the second 12 months after ______ .
(3) One hundred percent of the total assessment calculated by §§ 5.2, 5.3 and 5.5 for the third 12 months after ______ .
[Pa.B. Doc. No. 14-1733. Filed for public inspection August 15, 2014, 9:00 a.m.]
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