Ark. Code Ann. § 23-55-207

Net worth

Known as the Uniform Money Services Act

The act spans §§ 23–23 (44 sections).

Acts 2007, No. 1595, § 1; 2019, No. 111, § 4.

(1) A licensee under this article shall maintain a net worth that is calculated at $10,000 for every $1,000,000 of the total previous year's: Money transmission dollar volume;

(2) Payment instrument dollar volume; and

(3) Stored value dollar volume.

(4) A licensee shall maintain a minimum net worth of at least $50,000.

(5) The commissioner may set specific required net worth amounts by rule.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.