(a) A licensee shall maintain at all times a tangible net worth that is the greater of:(1) $100,000 or 3 percent of total assets for the first $100,000,000;(2) 2 percent of additional assets for $100,000,000 to $1,000,000,000; and(3) 0.5 percent of additional assets for any amount over $1,000,000,000.
(1) $100,000 or 3 percent of total assets for the first $100,000,000;
(2) 2 percent of additional assets for $100,000,000 to $1,000,000,000; and
(3) 0.5 percent of additional assets for any amount over $1,000,000,000.
(b) Tangible net worth shall be demonstrated at initial application by the applicant's most recent audited or unaudited financial statements under § 23-55-202(c)(6).
(c) Notwithstanding the other provisions of this section, the Securities Commissioner, for good cause shown, may exempt an applicant or licensee, in part or in whole, from the requirements of this section.