Title 33, Taxation and Finance
44 chapters · 597 sections in this title.
33 V.I.C. § 3301 Designation of depositories; requirements
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(a) The Commissioner of Finance shall designate banks or trust companies authorized to engage in a general commercial banking business within the Virgin Islands as depositories to receive funds of the government of the United States Virgin Islands and of its various agencies, aut…
33 V.I.C. § 3302 Bond required of depository
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Except as provided in section 3304 of this title, a depository shall furnish and file with the Commissioner of Finance a corporate surety bond, satisfactory to the Commissioner, to secure governmental funds deposited with it. The Commissioner of Finance shall not approve any depo…
33 V.I.C. § 3303 Depository bond; contents
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Each depository bond shall provide that during the time the bond is in force, the depository will pay all the governmental funds deposited with it to the Commissioner of Finance or other authorized officer, free of exchange, at any place in the Virgin Islands designated by him. I…
33 V.I.C. § 3304 Collateral in lieu of depository bond
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(1) In lieu of the corporate bond required in section 3302 of this title, a depository may pledge collateral satisfactory to the Commissioner of Finance, to secure governmental funds that are to be deposited with it. The Commissioner of Finance shall not accept any collateral oth…
33 V.I.C. § 3305 Pledge to accompany collateral
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The collateral deposited in compliance with section 3304 of this title shall be accompanied by a pledge thereof to the government of the United States Virgin Islands, which pledge shall recite that— (1) the depository will pay to the Commissioner of Finance or other authorized of…
33 V.I.C. § 3306 Furnishing more than one bond or both bond and collateral
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The depository may furnish more than one bond or both bonds and collateral to secure governmental funds deposited with it. If both bonds and collateral are furnished, the depository may withdraw all or any part of the collateral without in any way impairing the bond unless there …
33 V.I.C. § 3307 Division of deposits among depositories; maximum amounts to be deposited; exception of insured funds from bond and collateral
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(a) The Commissioner of Finance shall, insofar as practicable, divide the deposits of governmental funds among banks or trust companies designated as depositories to receive such funds in accordance with the provisions of section 3301 of this title; Provided, however, That in no …
33 V.I.C. § 3308 Statement of financial condition of depository or surety
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When the Commissioner of Finance deems necessary, he may require any depository of governmental funds or any surety on a depository bond to furnish a sworn statement of the financial condition of the depository or surety. Failure to render a statement within a reasonable time is …
33 V.I.C. § 3309 Deposit, withdrawal and substitution of collateral
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A depository may deposit, at any time during the period of its designation, additional collateral, withdraw excess collateral, and substitute other collateral for all or part of that on deposit, provided the collateral so substituted is of the kind designated in section 3304 of t…
33 V.I.C. § 3310 Types of deposits
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Deposits in depositories shall be divided into two classes to be known as active and inactive. A depository may be designated as a depository of both classes. All Virgin Islands government funds, and federal funds to be utilized by the government of the United States Virgin Islan…
33 V.I.C. § 3311 Deposit of government funds
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It shall be the duty of the Commissioner of Finance to deposit any public monies of the government or any trust fund, or other monies entrusted to him for disbursement in any of the depositories designated by him and to withdraw from the same only as may be required for payment t…
33 V.I.C. § 3312 Closing of depository deemed a default
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The closing of a depository shall be deemed a default by the depository and no demands by the Virgin Islands or by its officers will be necessary to establish such default. When a depository closes, any time deposit therein is immediately due and payable.
33 V.I.C. § 3313 Virgin Islands preferred creditor
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In any proceedings to wind up an insolvent depository, the government is a preferred creditor. Where a bond has been given by a depository the government may proceed either as a preferred creditor against the assets of the insolvent depository or as the obligee on the surety bond…
33 V.I.C. § 3314 Revocation of designation as depository
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The Commissioner of Finance for good and sufficient reasons may revoke the designation of any depository at any time. Upon revocation of a depository the Commissioner of Finance shall withdraw the governmental funds deposited therein immediately and shall make no further deposits…
33 V.I.C. § 3315 Regulations
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The Commissioner of Finance is authorized to prescribe regulations governing the acceptance of collateral securities to guarantee public funds deposited with banking institutions and for designation of depositories to hold in escrow collateral securities pledged pursuant to secti…
33 V.I.C. § 3316 Governmental funds defined
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The term “governmental funds” as used in sections 3301–3315 of this title shall mean all funds of the government of the United States Virgin Islands and of its various agencies, authorities and instrumentalities.
33 V.I.C. § 3317 Deposit without deduction
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The gross amount of all monies received from whatever source for the use of the Virgin Islands shall be paid by the officer or agent receiving the same into the treasury of the Virgin Islands, at as early a day as practicable, without any abatement or deduction on account of sala…
33 V.I.C. § 3318 Penalty for withholding money
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Every officer or agent who neglects or refuses to comply with the provisions of section 3317 of this title shall be removed from office, and shall forfeit to the Virgin Islands any share or part of the monies withheld, to which he might otherwise be entitled.
33 V.I.C. § 3319 Rendering accounts generally
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Except as otherwise provided, every officer or agent of the Virgin Islands who receives public money which he is not authorized to retain as salary, pay or emolument, shall render his accounts monthly. Such accounts, with the vouchers necessary to the correct and prompt settlemen…
33 V.I.C. § 3320 Rendering accounts; disbursing officers
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All disbursing officers of the Virgin Islands shall render their accounts quarterly; but the Government Comptroller of the Virgin Islands may direct any or all such accounts to be rendered more frequently when in his judgment the public interest may require.
33 V.I.C. § 3321 Rendering accounts; distinct accounts required
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All officers, agents, or other persons receiving public monies shall render distinct accounts of the application thereof, according to the appropriation under which the same may have been advanced to them.
33 V.I.C. § 3322 Suits to recover money from officers
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Whenever any person accountable for public money, neglects or refuses to pay into the treasury the sum or balance reported to be due the Virgin Islands, upon the adjustment of his account, the United States attorney for the Virgin Islands shall institute an action for the recover…
33 V.I.C. § 3323 Distress warrant
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Whenever any collector of the revenue, receiver of public money or other officer who has received the public money before it is paid into the treasury of the Virgin Islands, fails to render his account, or pay over the same in the manner or within the time required by law, it sha…
33 V.I.C. § 3324 Distress warrant; contents
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The warrant of distress shall specify the amount with which such delinquent is chargeable, and the sums, if any, which have been paid.
33 V.I.C. § 3325 Warrant of distress; execution against officer
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The marshal authorized to execute any warrant of distress shall, by himself or by his deputy, proceed to levy and collect the sum remaining due, by distress and sale of the goods and chattels of such delinquent officer; having given 10 days' previous notice of such intended sale,…
33 V.I.C. § 3326 Distress warrant; execution against surety
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If the delinquent officer absconds, or if goods and chattels belonging to him cannot be found sufficient to satisfy the warrant, the marshal or his deputy shall proceed, notwithstanding the commitment of the delinquent officer, to levy and collect the sum which remains due by suc…
33 V.I.C. § 3327 Levy to be lien
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The amount due by a delinquent officer is declared to be a lien upon the lands, tenements and hereditaments of such officer and his sureties, from the date of a levy in pursuance of the warrant of distress issued against him or them, and a record thereof made in the office of the…
33 V.I.C. § 3328 Regulation of sale of lands
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For want of goods and chattels of a delinquent officer, or his sureties, sufficient to satisfy any warrant of distress issued pursuant to sections 3323–3327 of this title, the lands, tenements, and hereditaments of such officer and his sureties, or so much thereof as may be neces…
33 V.I.C. § 3329 Conveyance of lands
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For all lands, tenements or hereditaments sold in pursuance of section 3328 of this title, the conveyance of the marshal or his deputy, executed in due form of law, shall give a valid title against all persons claiming under such delinquent officer or his sureties.
33 V.I.C. § 3330 Disposal of surplus
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All monies which may remain of the proceeds of sales, after satisfying the warrant of distress, and paying the reasonable costs and charges of the sale, shall be returned to such delinquent officer or surety, as the case may be.
33 V.I.C. § 3331 Failure of disbursing officer to account
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Whenever any officer in the service of the government, to disburse the public money appropriated for a branch of the public service, fails to render his accounts, or to pay over, in the manner and in the times required by law, or by the regulations of the department to which he i…
33 V.I.C. § 3332 Extent of application of provision for distress warrants
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All the provisions relating to the issuing of a warrant of distress against a delinquent officer shall extend to every officer of the government charged with the disbursement of the public money, and to their sureties, in the same manner and to the same extent as if they were des…
33 V.I.C. § 3333 Postponement of proceedings for nonaccounting
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With the approval of the Commissioner of Finance, the institution of proceedings by a warrant of distress may be postponed, for a reasonable time, in cases where, in his opinion, the public interest will sustain no injury by such postponement.
33 V.I.C. § 3334 Injunction to stay distress warrant
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Any person who considers himself aggrieved by any warrant of distress issued under the provisions of sections 3323–3333 of this title may file a complaint in the district court, setting forth therein the nature and extent of the injury of which he complains; and thereupon the cou…
33 V.I.C. § 3335 Rights of the Virgin Islands preserved
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Nothing contained in the provisions of sections 3323–3334 of this title relating to distress warrants shall be construed to take away or impair any right or remedy which the Virgin Islands might have, by law, for the recovery of taxes, debts or demands.
33 V.I.C. § 3336 Investment of funds
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(a) It is the policy and purpose of the Government of the United States Virgin Islands that government funds be so managed that maximum benefits be derived from them during such periods that the same are held for safekeeping in depositories designated by the Commissioner of Finan…
33 V.I.C. § 3337 Uncollectible claims
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The Commissioner shall from time to time prepare and certify to the Legislature, through the Governor, a list showing in detail the dates and steps taken by the Government for collection of outstanding amounts owed to the Government of the United States Virgin Islands as may have…
33 V.I.C. § 3338 Same; abatement by Commissioner
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(a) When the probable cost of collection would exceed the amount due and payable to the Government, the Commissioner of Finance upon a determination by him that any delinquent account due and payable to the Government is uncollectible, provided, however that each such account is …