(a) A money transmission licensee under this chapter shall maintain at all times a tangible net worth in an amount not less than:
(1) for a licensee with total assets in an amount not greater than $100 million, the greater of:
(A) $100,000; or
(B) 3 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 2 percent of the additional assets in excess of $100 million; and
(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 under this section must be demonstrated at the initial application by the applicant’s most recent audited or unaudited financial statements under § 152.104(c)(6).

(c) Notwithstanding other provisions of this section, the commissioner may, for good cause shown, exempt a money transmission licensee wholly or partly from the requirements of this section.