A. A licensee shall maintain at all times a tangible net worth as follows:

Terms Used In Arizona Laws 6-1227

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Licensee: means a person licensed under this article. See Arizona Laws 6-1201
  • Tangible net worth: means the aggregate assets of a licensee excluding all intangible assets, minus liabilities, as determined in accordance with United States generally accepted accounting principles. See Arizona Laws 6-1201

1. The greater of $100,000 or three percent of total assets for the first $100,000,000.

2. Two percent of additional assets for $100,000,000 to $1,000,000,000.

3. One-half percent of additional assets for over $1,000,000,000.

B. Tangible net worth must be demonstrated at initial application by the applicant’s most recent audited or unaudited financial statements pursuant to section 6-1209, subsection B, paragraph 6.

C. The director may exempt, in part or in whole, an applicant or licensee from this section.

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