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2022 Arizona Revised Statutes
Title 6 - Banks and Financial Institutions
§ 6-1227 - Net worth requirements; exemption
Universal Citation: AZ Rev Stat § 6-1227 (2022)
6-1227. 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.
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