                                 CODE OF VIRGINIA

(EFFECTIVE JULY 1, 2026) NET WORTH (§ 6.2-1950)

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&#8217;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: 2025, c. 214.