Arizona Arizona Revised Statutes
§ 6-1227 — Net worth requirements; exemption
ARS § 6-1227Title 6. Banks and Financial Institutions · Ch. 12. TRANSMITTERS OF MONEY · Art. 1. Money Transmission
Statute text
View on source6-1227. Net worth requirements; exemption A. A licensee shall maintain at all times a tangible net worth as follows: 1. The greater of $100,000 or three percent of total assets for the first $100,000,000. 2. Two percent of additional assets for $100,000,000 to $1,000,000,000. 3. One-half percent of additional assets for over $1,000,000,000. B. Tangible net worth must be demonstrated at initial application by the applicant's most recent audited or unaudited financial statements pursuant to section 6-1209, subsection B, paragraph 6. C. The director may exempt, in part or in whole, an applicant or licensee from this section.