According to the NBAA By-Laws, every registered person shall pay to the Board an annual subscription fee on the first day of July of each year upon receiving a demand note from the Board for payment of the annual subscription fee sent at his last known address.

Registered person or firm that fails to pay in time the prescribed subscription fee shall, after a lapse of grace period of three months from the due date, and in addition to the fee due, be liable to pay a penalty in the following maner:-

(a) at the lapse of three months from the date the fee was due, a penalty sum equivalent to twenty five percent of the fee due;

(b) at the lapse of six months from the date the fee was due, a penalty sum equivalent to fifty percent of the fee due;

(c) at the lapse of nine months from the date the fee was due, a penalty sum equivalent to seventy five percent of the fee due; or

(d) at the lapse of twelve months and beyond from the date the fee was due, a penalty sum equivalent to one hundred percent of the fee due.

A person who fails to pay the prescribed subscription fee for three consecutive years from the date the fee is due shall, in addition to the payment of the fees due, be deregistered by the Board.

INDIVIDUAL ANNUAL SUBSCRIPTION FEES RATES TABLE

FIRMS ANNUAL SUBSCRIPTION FEES RATES