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23-55-207. Net worth.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-55-207. Net worth.
(a) A licensee under this article shall maintain a net worth that is calculated at $10,000 for every $1,000,000 of the total previous year's:
(1) Money transmission dollar volume;
(2) Payment instrument dollar volume; and
(3) Stored value dollar volume.
(b)(1) A licensee shall maintain a minimum net worth of at least $50,000.
(2) The commissioner may set specific required net worth amounts by rule.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-55-207
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-55-207
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cd2bbed960f5c8566a25a7ddba908485dc5fb9762c0e4a1b20cbf36b987c3958
Source location: content.xml paragraph 26826
Stored source content
23-55-207. Net worth.
(a) A licensee under this article shall maintain a net worth that is calculated at $10,000 for every $1,000,000 of the total previous year's:
(1) Money transmission dollar volume;
(2) Payment instrument dollar volume; and
(3) Stored value dollar volume.
(b)(1) A licensee shall maintain a minimum net worth of at least $50,000.
(2) The commissioner may set specific required net worth amounts by rule.
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