Issuing order

9 V.I.C. § 821 — under Virgin Islands Finance Lenders.

9 V.I.C. § 821

(a) If, upon inspection, examination, or investigation, the Board has cause to believe that a licensee or other person is violating any provision of this chapter or any regulation or order thereunder, the Board, may issue an order to the licensee or person in writing, describing with particularity and the basis of the order. Each order may contain a concise statement of the action taken; the effective date of such action; the designation of the provisions of this title pursuant to which the action is taken; and a concise statement of the findings of the Board in support of the action. Additionally, the Order must contain the action necessary to correct the violation or violations identified and provide a reasonable time period or periods by which the violation or violations must be corrected. In addition, each order may assess an administrative fine not to exceed $10,000 that must be deposited in General Fund. In assessing a fine, the Board shall give due consideration to the appropriateness of the amount of the fine with respect to factors including the gravity of the violation, the good faith of the person or licensees cited, and the history of previous violations. An order issued or a fine assessed pursuant to this section, while constituting punishment for a violation of law, must be instead of other administrative discipline by the Board for the offense or offenses cited, and the order and fine payment thereof by a licensee may not be reported as disciplinary action taken by the Board.

(b) Notwithstanding subsection (a), nothing in this section prevents the Board from issuing an order to cease and desist from engaging in a specific business or activity or activities, or an order to suspend all business operations to a person or licensee who is engaged in or who has engaged in continued or repeated violations of this chapter. In any of these circumstances, the sanctions authorized under this section are separate from, and in addition to, all other administrative, civil, or criminal remedies.

(c) If, within 15 days from the receipt of the order, the licensee or person cited fails to notify the Board that of an intent to request a hearing as described in subsection (d), the Board shall deem the order final.

(d) Any hearing under this section must be conducted in accordance with this chapter and the regulations issued pursuant to this chapter.

(e) After the exhaustion of the review procedures provided for in this section, the Board may apply to the appropriate court for a judgment in the amount of the administrative fine and an order compelling the cited licensee or person to comply with the order of the Board. The application, which must include a certified copy of the final order of the Board, constitutes a sufficient showing to warrant the issuance of the judgment and order.