What are the rules for my tangible net worth requirements?
(1) A money transmitter applicant or licensee must demonstrate and maintain a tangible net worth calculated at ten thousand dollars for every one million dollars of money transmission and payment instrument dollar volume. The minimum tangible net worth is ten thousand dollars; the maximum three million dollars.
(2) Determinations of tangible net worth must be made according to generally accepted accounting principles.
[Statutory Authority: RCW 43.320.040, 19.230.310, 2010 c 37. 10-20-123, § 208-690-060, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 19.230.310 and 43.320.040. 04-15-005, § 208-690-060, filed 7/7/04, effective 8/7/04.]