Colorado § 11-110-1001 Net worth

Colorado Statutes

§ 11-110-1001 — Net worth

Colorado·Title 11 Financial·Art. Money Transmitters

(1)A licensee licensed pursuant to this article 110 shall maintain at all times a tangible net worth of the greater of one hundred thousand dollars or three percent of total assets for the first one hundred million dollars, two percent of additional assets for one hundred million dollars to one billion dollars, and one-half of one percent of additional assets for over one billion dollars.

(2)Tangible net worth required by subsection (1) of this section must be demonstrated at initial application by the applicant's most recent audited or unaudited financial statements pursuant to section 11-110-503 (2)(f).

(3)Notwithstanding subsections (1) and (2) of this section, the banking board may, for good cause shown, exempt, in part or in whole, an applicant or licensee from the requi

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(1) A licensee licensed pursuant to this article 110
shall maintain at all times a tangible net worth of the greater of one hundred
thousand dollars or three percent of total assets for the first one hundred million
dollars, two percent of additional assets for one hundred million dollars to one
billion dollars, and one-half of one percent of additional assets for over one billion
dollars.

(2) Tangible net worth required by subsection (1) of this section must be
demonstrated at initial application by the applicant's most recent audited or
unaudited financial statements pursuant to section 11-110-503 (2)(f).

(3) Notwithstanding subsections (1) and (2) of this section, the banking board
may, for good cause shown, exempt, in part or in whole, an applicant or licensee
from the requirements set forth in this section.

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