(a) The licensee or person examined shall pay the cost of each examination of the licensee or a person subject to this chapter to the Board, and the Board may maintain an action for the recovery of the cost in any court of competent jurisdiction. In determining the cost of an examination, the Board may use the estimated average hourly cost for all persons performing examinations of licensees or other person or persons subject to this chapter for the fiscal year.
(b) When it becomes necessary to examine or investigate the books and records of a licensee required to be licensed under this chapter at a location outside of the Virgin Islands, the licensee is liable for, and shall pay to the Board, no later than 30 days after the expenses are incurred, the actual travel and reasonable living expenses incurred on account of its examination, supervision, and regulation, or shall pay a reasonable per diem rate approved by the Board.
(c) For the purpose of this section only, no person other than a licensee may be deemed to be a person subject to this chapter until the person is determined to be a person subject to this chapter by an administrative hearing in accordance with regulations or by a judicial hearing in any court of competent jurisdiction.