Vermont § 2540 - Net worth
Full text of Vermont Vermont Statutes Online § 2540 — Net worth, with citation guidance and answers to common questions.
§ 2540. Net worth
- (a) A licensee under this chapter shall maintain at all times a tangible net worth of
the greater of $100,000.00 or three percent of total assets for the first $100,000,000.00,
two percent of additional assets for $100,000,000.00 to $1,000,000,000.00, and 0.5
percent of additional assets for over $1,000,000,000.00. (b) Tangible net worth must be demonstrated at initial application by the applicant’s
most recent audited or unaudited financial statements pursuant to subsection 2102(e) of this title. (c) Notwithstanding subsections (a) and (b) of this section, the Commissioner for good
cause shown has the authority to exempt an applicant or licensee from the requirements
of this section, in part or in whole. (Added 2023, No. 110 (Adj. Sess.), § 44, eff. July 1, 2024.)
Frequently Asked Questions About Vermont § 2540
What does Vermont Statutes Online § 2540 cover?
Section 2540 ("Net worth") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 2540?
A common citation format is "Vermont Statutes Online § 2540" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 2540 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.