286.11 -011 Minimum net worth of licensee. Each licensee under this subtitle shall at all times have a net worth of not less than five hundred thousand dollars ($500,000), calculated in accordance with generally accepted accounting principles. Effective: April 24, 2006 History: Created 2006 Ky. Act s ch. 247, sec. 6, effective April 24, 2006. Legislative Research Commission Note (7/12/2006). This section was created in 2006 Ky. Acts ch. 247 as a new section of KRS Chapter 366A. Sec. 38 of that same bill also required that all sections of KRS Chapter s 287, 288, 290, 291, 294, 366, 366A, and 368 be renumbered as sections of a single KRS chapter entitled the 'Kentucky Financial Services Code.' Therefore, the Statute Reviser, acting under KRS 7.136(1), has codified this section as a new section of KRS Ch apter 286.
Kentucky Legal Code