# 38 Ill. Adm. Code 110.16: Section 110.16 Positive Net Worth

> Illinois · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_16

## Section

- **Citation:** 38 Ill. Adm. Code 110.16
- **Heading:** Section 110.16 Positive Net Worth
- **Jurisdiction:** Illinois
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Illinois Administrative Code / Title 38 FINANCIAL INSTITUTIONS / CHAPTER I: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION / Part 110 CONSUMER INSTALLMENT LOAN ACT / Section 110.16 Positive Net Worth

## Text

Section 110.16  Positive Net
Worth
a)         A licensee shall maintain a positive net worth of a minimum of
$30,000 at all times.
b)         A licensee shall provide a year-end balance sheet
demonstrating that it has maintained a positive net worth of $30,000 no later
than March 31 of the next year.  The balance sheet shall be prepared in
accordance with generally accepted accounting principles.
c)         The Secretary may require a licensee to produce financial
statements demonstrating that the licensee has maintained a positive net worth
of a minimum of $30,000 at any other time when the Secretary has good cause to
believe that the licensee may not have a positive net worth of a minimum of
$30,000.  Any such financial statements shall be prepared in accordance with generally
accepted accounting principles.

## Nearby sections

- [38 Ill. Adm. Code 110.1 Section 110.1  Definitions](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_1.md)
- [38 Ill. Adm. Code 110.2 Section 110.2  Rate Cap Disclosure Notices](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_2.md)
- [38 Ill. Adm. Code 110.5 Section 110.5  Applicability](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_5.md)
- [38 Ill. Adm. Code 110.10 Section 110.10  Record Keeping](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_10.md)
- [38 Ill. Adm. Code 110.15 Section 110.15  Application for License; Controlling Person](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_15.md)
- [38 Ill. Adm. Code 110.16 Section 110.16  Positive Net Worth](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_16.md)
- [38 Ill. Adm. Code 110.20 Section 110.20  Loan Register](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_20.md)
- [38 Ill. Adm. Code 110.30 Section 110.30  Individual Account Records](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_30.md)
- [38 Ill. Adm. Code 110.40 Section 110.40  File of Original Papers](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_40.md)
- [38 Ill. Adm. Code 110.50 Section 110.50  Cash Book](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_50.md)
- [38 Ill. Adm. Code 110.60 Section 110.60  Alphabetical Record of Co-Makers, Obligors or Guarantors](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_60.md)
- [38 Ill. Adm. Code 110.65 Section 110.65  Permanent File](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_65.md)
- [38 Ill. Adm. Code 110.70 Section 110.70  Payments](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_70.md)
- [38 Ill. Adm. Code 110.80 Section 110.80  Interest-Bearing Loans](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_80.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_16. Check the current official text before relying on it. Not legal advice.