Kansas § 9-586 - Net worth requirements of licensee; exemption by the commissioner
Full text of Kansas Kansas Statutes Annotated § 9-586 — Net worth requirements of licensee; exemption by the commissioner, with citation guidance and answers to common questions.
§ 9-586. Net worth requirements of licensee; exemption by the commissioner
9-586. Net worth requirements of licensee; exemption by the commissioner. (a) Every licensee shall maintain at all times a tangible net worth of:(1) The greater of $100,000 or 3% of such licensee's total assets up to $100,000,000;(2) 2% of such licensee's additional assets of $100,000,000 to $1,000,000,000; and(3) 0.5% of such licensee's additional assets of over $1,000,000,000.(b) The licensee's tangible net worth shall be demonstrated at initial application by the applicant's most recent audited or unaudited financial statements pursuant to K.S.A. 2025 Supp. 9-564, and amendments thereto.(c) Notwithstanding the provisions of this section, the commissioner shall have the authority to exempt any applicant or licensee, in part or in whole, from the requirements of this section.(d) This section shall take effect on and after January 1, 2025.History: L. 2024, ch. 64, § 32; July 1.
Source: official Kansas text · Last verified 2026-08-27
Frequently Asked Questions About Kansas § 9-586
What does Kansas Statutes Annotated § 9-586 cover?
Section 9-586 ("Net worth requirements of licensee; exemption by the commissioner") is part of the Kansas Statutes Annotated, the codified statutory law of Kansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Kansas § 9-586?
A common citation format is "Kansas Statutes Annotated § 9-586" (Kansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Kansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Kansas official source linked on this page or consult a licensed Kansas attorney.
How does Kansas § 9-586 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Kansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Kansas.