533C.206 Net worth.
A licensee under this article shall maintain a net worth of at least one hundred thousand dollars plus ten thousand dollars per authorized delegate not to exceed five hundred thousand dollars determined in accordance with generally accepted accounting principles. If the licensee has no locations in this state at which business is conducted through authorized delegates or employees of the licensee, the minimum net worth, not to exceed five hundred thousand dollars, shall be set by the superintendent.
2003 Acts, ch 96, §9, 42
Referred to in §533C.204
Structure Iowa Code
Chapter 533C - UNIFORM MONEY SERVICES ACT
Section 533C.101 - Short title.
Section 533C.102 - Definitions.
Section 533C.103 - Exclusions.
Section 533C.201 - License required.
Section 533C.202 - Application for license.
Section 533C.204 - Issuance of license.
Section 533C.205 - Renewal of license.
Section 533C.301 - License required.
Section 533C.302 - Application for license.
Section 533C.303 - Issuance of license.
Section 533C.304 - Renewal of license.
Section 533C.401 - Relationship between licensee and authorized delegate.
Section 533C.402 - Unauthorized activities.
Section 533C.501 - Authority to conduct examinations.
Section 533C.502 - Joint examinations.
Section 533C.504 - Change of control.
Section 533C.506 - Money laundering reports.
Section 533C.507 - Disclosure.
Section 533C.601 - Maintenance of permissible investments.
Section 533C.602 - Types of permissible investments.
Section 533C.701 - Suspension and revocation — receivership.
Section 533C.702 - Suspension and revocation of authorized delegates.
Section 533C.703 - Orders to cease and desist.
Section 533C.704 - Consent orders.
Section 533C.705 - Civil penalties.
Section 533C.706 - Criminal penalties.
Section 533C.707 - Unlicensed persons.
Section 533C.708 - Investigations.
Section 533C.801 - Administrative proceedings.
Section 533C.901 - Uniformity of application and construction.
Section 533C.902 - Financial services licensing fund.