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2011 Kentucky Revised Statutes
Subtitle 11. Money Transmitters
286.11.011 Minimum net worth of licensee.


KY Rev Stat § 286.11.011 (1996 through Reg Sess) What's This?
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286.11-011 Minimum net worth of licensee. Each licensee under this subtitle shall at all times have a net worth of not less than five hundred thousand dollars (0,000), calculated in accordance with generally accepted accounting principles. Effective: April 24, 2006 History: Created 2006 Ky. Acts ch. 247, sec. 6, effective April 24, 2006. Legislative Research Commission Note (7/12/2006). This section was created in 2006 Ky. Acts ch. 247 as a new section of KRS Chapter 366A. Sec. 38 of that same bill also required that all sections of KRS Chapters 287, 288, 290, 291, 294, 366, 366A, and 368 be renumbered as sections of a single KRS chapter entitled the "Kentucky Financial Services Code." Therefore, the Statute Reviser, acting under KRS 7.136(1), has codified this section as a new section of KRS Chapter 286.

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