The Board of Directors of the MTRA decided to introduce an annual membership fee to help pay for administrative expenses of the association. For the last fourteen years, MTRA suspended annual fees and relied on volunteers to run the affairs of the association. However, the growth of the money transmission industry and growing complexity required a commensurate regulatory response which placed a demand on MTRA for the provision of more services to its member states, such as training and coordination of regulatory responses. Recently, MTRA engaged the services of an administrator. The Board of Directors determined that there should be an annual fee for each State that maintains a membership in the association to fund rising administrative expenses of the association. The fee was determined to be the nominal amount of $500.00 annually and shall be billed annually in May and paid no later than July 15th.