TITLE 19
Financial institutions

CHAPTER 19-14
Licensed Activities

SECTION 19-14-5


§ 19-14-5 Minimum capital.

Each licensee, licensed pursuant to an application for license filed after June 30, 1995, shall maintain the following minimum-net worth to be evidenced in accordance with regulations promulgated by the director or the director's designee.

(1) Small-loan lenders, the sum of twenty-five thousand dollars ($25,000);

(2) Loan brokers, the sum of ten thousand dollars ($10,000);

(3) Lenders, the sum of one hundred thousand dollars ($100,000);

(4) Sale of checks, the sum of fifty thousand dollars ($50,000); and

(5) Third-party loan servicers, the sum of one hundred thousand dollars ($100,000).

History of Section.
(P.L. 1995, ch. 82, § 52; P.L. 2014, ch. 487, § 1; P.L. 2014, ch. 522, § 1.)