(a) The corporation is declared to be performing the functions of a credit union and shall be subject to exclusive supervision and examination in accordance with § 45-4-1002(a) by the commissioner of financial institutions.
(b) The corporation shall pay an annual supervision fee equal in amount to one-half (½) of the fee calculated to be due in accordance with § 45-4-1002(c) from a noncorporate credit union having assets equal in amount to the corporation.