{"data":{"id":"us-tn/tenn.-code-ann.-45-7-135","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 45-7-135","heading":"Net worth","body":"(a) A licensee under this chapter shall at all times maintain a tangible net worth of: (1) The greater of one hundred thousand dollars ($100,000) or three percent (3%) of total assets for the first one hundred million dollars ($100,000,000); (2) Two percent (2%) of additional assets for one hundred million dollars ($100,000,000) to one billion dollars ($1,000,000,000); and (3) One-half of one percent (0.5%) of additional assets for over one billion dollars ($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 § 45-7-113(b)(6) . Added by 2023 Tenn. Acts, ch. 115, s 1, eff. 1/1/2024.\n(a) A licensee under this chapter shall at all times maintain a tangible net worth of: (1) The greater of one hundred thousand dollars ($100,000) or three percent (3%) of total assets for the first one hundred million dollars ($100,000,000); (2) Two percent (2%) of additional assets for one hundred million dollars ($100,000,000) to one billion dollars ($1,000,000,000); and (3) One-half of one percent (0.5%) of additional assets for over one billion dollars ($1,000,000,000).\n(1) The greater of one hundred thousand dollars ($100,000) or three percent (3%) of total assets for the first one hundred million dollars ($100,000,000);\n(2) Two percent (2%) of additional assets for one hundred million dollars ($100,000,000) to one billion dollars ($1,000,000,000); and\n(3) One-half of one percent (0.5%) of additional assets for over one billion dollars ($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 § 45-7-113(b)(6) .","path":["TN Code","Title 45","Chapter 7"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"e6c703548428c92bf6c676e3ed09331e3e513d324d358d6bf402b235e619ee37","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-45-7-134","next":"us-tn/tenn.-code-ann.-45-7-136"},"notice":"GroundRules: Original legal text. Not legal advice."}