{"data":{"id":"us-il/205-ilcs-658-10-1","jurisdiction":"us-il","citation":"205 ILCS 658/10-1","heading":"Net worth.","body":"(a) A licensee under this Act shall maintain at all times a tangible net worth of the greater of $100,000 or 3% of total assets for the first $100,000,000, 2% of additional assets for $100,000,000 to $1,000,000,000, and 0.5% of additional assets for over $1,000,000,000.\n(b) Tangible net worth must be demonstrated at initial application by the applicant's most recent audited or unaudited financial statements pursuant to paragraph (6) of subsection (b) of Section 5-3.\n(c) Notwithstanding the provisions of this Section, the Secretary shall have discretionary authority to exempt, in part or in whole, from the requirements of this Section any applicant or licensee.","path":["CHAPTER 205 FINANCIAL REGULATION","Uniform Money Transmission Modernization Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=4549\u0026ChapterID=20\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:29Z","sha256":"e466383b3c887d7afee9d9bdbf98c279475c5919a072a260ad99326833991db0","source_id":"us-il","stale":false,"prev":"us-il/205-ilcs-658-9-5","next":"us-il/205-ilcs-658-10-2"},"notice":"GroundRules: Original legal text. Not legal advice."}