Fees to Defray Expenses of Division

(a)The Commissioner shall charge an examination fee based on cost per hour per examiner, plus travel, per diem and other related expenses for all institutions examined by him/her or his/her staff.

(b)The Board may implement by regulation not inconsistent with law additional fees as may be reasonably necessary or appropriate for the administration of this Title and other laws of Guam relating to banking and insurance. Such COL11/8/2019 CH. 103 OFFICE OF COMMISSIONER OF BANKING AND INSURANCE regulations shall be promulgated, amended, or repealed in accordance with the Administrative Adjudication Act.

(c)Such fees shall be paid directly to the Banking and Insurance Enforcement Fund.