Rhode Island General Laws Title 19. Financial Institutions § 19-14-5. Minimum capital

(i) Shall maintain at all times a tangible net worth of the greater of one hundred thousand dollars ($100,000) or three percent (3%) of total assets for the first one hundred million dollars ($100,000,000), two percent (2%) of additional assets for one hundred million dollars ($100,000,000) to one billion dollars ($1,000,000,000), and five-tenths percent (0.5%) of additional assets for over one billion dollars ($1,000,000,000);

(ii) Tangible net worth must be demonstrated at initial application by the applicant's most recent audited or unaudited financial statements pursuant to § 19-14-1;

(iii) Notwithstanding the foregoing provisions of this section, the director shall have the authority, for good cause shown, to exempt, in part or in whole, from the requirements of this section any applicant or licensee; and