§ 6.2-1950 (Effective July 1, 2026) Net worth
A. A licensee shall maintain at all times a tangible net worth in an amount not less than the following:
1. For a licensee with total assets in an amount not greater than $100 million, the greater of $100,000 or three percent of the value of the licensee’s total assets.
2. For a licensee with total assets in an amount greater than $100 million and not greater than $1 billion, the sum of $3 million and two percent of the additional assets in excess of $100 million.
3. For a licensee with total assets in an amount greater than $1 billion, the sum of $21 million and 0.5 percent of the additional assets in excess of $1 billion.
B. Tangible net worth shall be demonstrated at initial application and thereafter in a manner prescribed by the Commission.
History
This law was first created in 2025. The record of its establishment is cataloged in chapter 214 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
2025, c. 214.