What is the financial statement/net worth requirement for an applicant for a license under the act?

All of the following:

  1. Section 12 of the DPSTA requires the applicant (not its officers, directors, shareholders) demonstrate a minimum net worth of $50,000 per location.
     
  2. The maximum net worth for any entity regardless of the number of locations is $250,000.
     
  3. The financial statement is required to be completed in accordance with Generally Accepted Accounting Principles (GAAP).