§ 19-14-5 - Minimum capital. - Rhode Island Statutes

SECTION 19-14-5

   § 19-14-5  Minimum capital. – Each licensee, licensed pursuant to an application for license filed after June30, 1995, shall maintain the following minimum net worth to be evidenced inaccordance with regulations promulgated by the director or the director'sdesignee.

   (1) Small loan lenders, the sum of twenty-five thousanddollars ($25,000);

   (2) Loan brokers, the sum of ten thousand dollars ($10,000);

   (3) Lenders, the sum of one hundred thousand dollars($100,000); and

   (4) Sale of checks, the sum of fifty thousand dollars($50,000).