Missouri § 361.999 - Net worth.
Full text of Missouri Revised Statutes of Missouri § 361.999 — Net worth., with citation guidance and answers to common questions.
§ 361.999. Net worth.
1. A licensee under sections 361.900 to 361.1035 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 of one percent of additional assets for over one billion dollars.
2. Tangible net worth shall be demonstrated at initial application by the applicant's most recent audited or unaudited financial statements under subdivision (6) of subsection 2 of section 361.936.
3. Notwithstanding the provisions of this section, the director shall have the authority, for good cause shown, to exempt, in part or in whole, from the requirements of this section any applicant or licensee.
--------
(L. 2024 S.B. 1359)
---- end of effective 28 Aug 2024 ----
Frequently Asked Questions About Missouri § 361.999
What does Revised Statutes of Missouri § 361.999 cover?
Section 361.999 ("Net worth.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. 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 Missouri § 361.999?
A common citation format is "Revised Statutes of Missouri § 361.999" (Missouri). 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 Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 361.999 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri 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 Missouri.