Tennessee § 45-7-135 Net worth

Tennessee Statutes

§ 45-7-135 — Net worth

Tennessee § 45-7-135

Title45

This text of Tennessee § 45-7-135 (Net worth) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 45-7-135 (2026).

Text

(a)A licensee under this chapter shall at all times maintain a tangible net worth of:

(1)The greater of one hundred thousand dollars ($100,000) or three percent (3%) of total assets for the first one hundred million dollars ($100,000,000);

(2)Two percent (2%) of additional assets for one hundred million dollars ($100,000,000) to one billion dollars ($1,000,000,000); and (3) One-half of one percent (0.5%) of additional assets for over one billion dollars ($1,000,000,000).

(b)Tangible net worth must be demonstrated at initial application by the applicant's most recent audited or unaudited financial statements pursuant to § 45-7-113(b)(6) .

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(a) A licensee under this chapter shall at all times maintain a tangible net worth of: (1) The greater of one hundred thousand dollars ($100,000) or three percent (3%) of total assets for the first one hundred million dollars ($100,000,000); (2) Two percent (2%) of additional assets for one hundred million dollars ($100,000,000) to one billion dollars ($1,000,000,000); and (3) One-half of one percent (0.5%) of additional assets for over one billion dollars ($1,000,000,000). (b) Tangible net worth must be demonstrated at initial application by the applicant's most recent audited or unaudited financial statements pursuant to § 45-7-113(b)(6) .