Virginia § 6.2-1950 - (Effective July 1, 2026) Net worth
Full text of Virginia Code of Virginia § 6.2-1950 — (Effective July 1, 2026) Net worth, with citation guidance and answers to common questions.
§ 6.2-1950. (Effective July 1, 2026) Net worth
A. A licensee shall maintain at all times a tangible net worth in an amount not less than the following:
1. For a licensee with total assets in an amount not greater than $100 million, the greater of $100,000 or three percent of the value of the licensee's total assets.
2. For a licensee with total assets in an amount greater than $100 million and not greater than $1 billion, the sum of $3 million and two percent of the additional assets in excess of $100 million.
3. For a licensee with total assets in an amount greater than $1 billion, the sum of $21 million and 0.5 percent of the additional assets in excess of $1 billion.
B. Tangible net worth shall be demonstrated at initial application and thereafter in a manner prescribed by the Commission.
2025, c. 214.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-1950
What does Code of Virginia § 6.2-1950 cover?
Section 6.2-1950 ("(Effective July 1, 2026) Net worth") is part of the Code of Virginia, the codified statutory law of Virginia. 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 Virginia § 6.2-1950?
A common citation format is "Code of Virginia § 6.2-1950" (Virginia). 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 Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 6.2-1950 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia 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 Virginia.