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Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-1227. Net worth requirements; exemption

Current as of January 01, 2025 | Updated by Findlaw Staff

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 § 6-1209, subsection B, paragraph 6.

C. The director may exempt, in part or in whole, an applicant or licensee from this section.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-1227. Net worth requirements; exemption - last updated January 01, 2025 | https://codes.findlaw.com/az/title-6-banks-and-financial-institutions/az-rev-st-sect-6-1227/

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