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The new applicable fees, relating to Certificates of Authority for California Gift Annuities, effective 1-1-2004, for "Grants and Annuities Societies" (public charities), generally have increased by 10%. [California Law permits the Department of Insurance to increase its Fees by ten percent (10%) a year, without first obtaining permission from the California State Legislature].
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Law Section
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Item
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Effective 1/01/2003
OLD Fees
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Effective 1/01/2004
NEW Fees
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11520.5
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Filing Fee |
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11520.5
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Annual Renewal Fee ** |
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1601
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Appointment of agent for Service of Process |
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Filing Fee per Agreement |
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60.00 (?)***
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Other Fees
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11520.5(d)(1)
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Amended Certificate of Authority |
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11520.5(d)(3)
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Withdrawal of Certificate Holder |
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924 & 10970
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Late Filing Fee |
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| 924 |
Add'l late filing fee (per month) |
656.00
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722.00
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11520.5)d)(2)
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Amendments to Articles of Incorporation |
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*** Note: The basic fee is $60 (where up to 10 agreements are filed within any calendar quarter). Thereafter, within each calendar quarter, goes as follows (based on number of new agreements being filed):
50 percent of the basic fee for 11 to 20 agreements filed;
20 percent of the basic fee for 21 to 30 agreements filed;
10 percent of the basic fee for 31 to 40 agreements filed; and
5 percent of the basic filing fee for 41 or more agreements filed.
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You may find this formula (except for the basic fee amount of $ 60) at California Insurance Code sec. 11522, available on the web at ...
www.leginfo.ca.gov/cgi-bin/displaycode?section=ins&group=11001-12000&file=11522
** Annual Statement Filing Fee, there is no flat filing fee; rather the licensee is charged an in-house examination fee for the review of the statement (presently assumed to be: $101.00). Fee Schedule does not make it clear whether the "Annual Renewal Fee" and "review of the annual statement" is the same thing.
Except for "Filing Fee per Agreement", these new fees are found on the web at . . .
www.insurance.ca.gov/budgets/2004FeeSchedule.pdf
Note: The above listing was created from the full 8-page Proposed 1-1-2004 Fee Schedule of CA Insurance Dept. found on CA Insurance Dept. web site at URL shown immediately above. The reader should verify data shown with the California Insurance Dept. before using same. Fees for submission of copies of CA CGA agreements in force are NOT found in Proposed Fee Schedule published by CA Dept. of Insurance.
CA Dept. of Insurance Contact for Grants and Annuities Societies (public charities) is:
Carol Harmon, Esq., Corporate Affairs Bureau, State of California Dept. of Insurance,
45 Fremont Street, San Francisco, CA 94105, Phone: (415) 538-4420
Copyright © 2003 James B. Potter
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