# R.I. Gen. Laws § 19-14-5: Minimum capital

> Rhode Island · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-5

## Section

- **Citation:** R.I. Gen. Laws § 19-14-5
- **Heading:** Minimum capital
- **Jurisdiction:** Rhode Island
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** RI Code / Title 19 / Chapter 19-14 / Section 19-14-5

## Text

Each licensee, licensed pursuant to an application for license filed after June 30, 1995, shall maintain the following minimum net worth to be evidenced in accordance with regulations promulgated by the director, or the director€™s designee:

(1) Small loan lenders, the sum of twenty-five thousand dollars ($25,000);

(2) Loan brokers, the sum of ten thousand dollars ($10,000);

(3) Lenders, the sum of one hundred thousand dollars ($100,000);

(4) Currency transmission licensees:

(i) Shall maintain at all times a tangible net worth of the greater of one hundred thousand dollars ($100,000) or three percent (3%) of total assets for the first one hundred million dollars ($100,000,000), two percent (2%) of additional assets for one hundred million dollars ($100,000,000) to one billion dollars ($1,000,000,000), and five-tenths percent (0.5%) of additional assets for over one billion dollars ($1,000,000,000);

(ii) Tangible net worth must be demonstrated at initial application by the applicant€™s most recent audited or unaudited financial statements pursuant to § 19-14-1;

(iii) Notwithstanding the foregoing 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; and

(5) Third-party loan servicers, the sum of one hundred thousand dollars ($100,000).

## Nearby sections

- [R.I. Gen. Laws § 19-14-1_19-14-1 § 19-14-1. Definitions. [Effective until January 1, 2027.]19-14-1. Definitions. [Effective January 1, 2027.]](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-1_19-14-1.md)
- [R.I. Gen. Laws § 19-14-2 § 19-14-2. Licenses required.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-2.md)
- [R.I. Gen. Laws § 19-14-3 § 19-14-3. Application for license.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-3.md)
- [R.I. Gen. Laws § 19-14-4 § 19-14-4. Annual fee.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-4.md)
- [R.I. Gen. Laws § 19-14-5 § 19-14-5. Minimum capital.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-5.md)
- [R.I. Gen. Laws § 19-14-6 § 19-14-6. Bond of applicant.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-6.md)
- [R.I. Gen. Laws § 19-14-7 § 19-14-7. Issuance or denial of license.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-7.md)
- [R.I. Gen. Laws § 19-14-8 § 19-14-8. Denial of license due to incomplete application.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-8.md)
- [R.I. Gen. Laws § 19-14-9 § 19-14-9. Contents of license.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-9.md)
- [R.I. Gen. Laws § 19-14-10 § 19-14-10. Agent for service of process.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-10.md)
- [R.I. Gen. Laws § 19-14-11 § 19-14-11. Prohibition or transfer or assignment of license.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-11.md)
- [R.I. Gen. Laws § 19-14-12 § 19-14-12. Place of business €” Branch offices €” Name changes.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-12.md)
- [R.I. Gen. Laws § 19-14-13 § 19-14-13. Revocation of license.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-13.md)
- [R.I. Gen. Laws § 19-14-14 § 19-14-14. Revocation by default.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_RI_T19_C19-14_S19-14-5. Check the current official text before relying on it. Not legal advice.