Limitation of secured creditor’s liability

28 V.I.C. § 142c — under Secured Creditor to Record Satisfaction; Liability for Failure.

28 V.I.C. § 142c

(1) A secured creditor is not liable under this chapter if it:(1) established a reasonable procedure to achieve compliance with its obligations under this chapter;(2) complied with that procedure in good faith; and(3) was unable to comply with its obligations because of circumstances beyond its control.

(1) established a reasonable procedure to achieve compliance with its obligations under this chapter;

(2) complied with that procedure in good faith; and

(3) was unable to comply with its obligations because of circumstances beyond its control.