1.    A licensee under this chapter shall maintain at all times a tangible net worth of the greater of one hundred thousand dollars or three percent of total assets for the first one hundred million dollars, two percent of additional assets for one hundred million dollars to one billion dollars, and one-half percent of additional assets for over one billion dollars.

2.    Tangible net worth must be demonstrated at initial application by the applicant’s most recent audited or unaudited financial statements pursuant to subdivision f of subsection 2 of section 13-09.1-11.

3.    Notwithstanding the foregoing provisions of this section, the commissioner may, for good cause shown, exempt, in part or in whole, any applicant or licensee from the requirements of this section.