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.)