Title 9, Banking
20 chapters · 557 sections in this title.
9 V.I.C. § 346 Security deposit
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(a) Such association shall deposit with the Commissioner of Finance first mortgage securities to the amount of $25,000, approved by the Banking Board. Such deposit shall be held in trust by the Commissioner of Finance for the protection and indemnity of the residents of this terr…
9 V.I.C. § 347 Bond
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Such association shall file with the Lieutenant Governor a bond to the territory in such sum as he may require, not more than $10,000 nor less than $500, with such sureties or securities as he approves, conditioned for the making of reports and returns required by this subchapter…
9 V.I.C. § 348 Duties of Banking Board—Papers, reports
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The Banking Board shall file all papers required by this subchapter, and thoroughly examine the annual reports submitted by foreign building and loan associations.
9 V.I.C. § 349 Licenses
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After examination, if the Banking Board becomes satisfied that a foreign building and loan association desiring to do business in this territory is solvent and conducts its business according to law, and has complied with the provisions of this subchapter, it may issue a license …
9 V.I.C. § 350 Annual examinations
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The Banking Board or its agent shall annually make an examination of the securities, records, books and accounts of every foreign building and loan association doing business in this territory and file a report of such examination in its office.
9 V.I.C. § 351 Order for discontinuance of unsafe practices
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If it appears to the Banking Board that a foreign building and loan association licensed to do business in this territory has violated a provision of its charter, or is conducting its business in an unsafe or unauthorized manner, by an order addressed to such association, the Boa…
9 V.I.C. § 352 Suspension of license
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Whenever it appears to the Banking Board that it is unsafe or inexpedient for such association to continue doing business in this territory, it may suspend the license granted to such association, and apply to the District Court for an injunction restraining such association from…
9 V.I.C. § 353 Prohibitions and obligations
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When, by the laws of state or nation, any prohibitions, taxes, fines, penalties, licenses, fees, deposits of money, securities or other obligations are imposed upon building and loan associations of this territory, or upon their agents, doing business in such other state or natio…