(1) The purpose of this chapter is to:(1) Allow for the statutory organization of captive insurance companies, as defined in this chapter;(2) Prohibit international insurers from licensure under this chapter, and(3) Prohibit captive insurers from converting into or being licensed as a multi-state insurer in the Virgin Islands.
(1) Allow for the statutory organization of captive insurance companies, as defined in this chapter;
(2) Prohibit international insurers from licensure under this chapter, and
(3) Prohibit captive insurers from converting into or being licensed as a multi-state insurer in the Virgin Islands.