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.)