Title 9 — Banking
20 chapters · 569 sections in this title.
9 V.I.C. § 914 Definitions
1.3K chars
(a) “Charges” include the aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs charged, contracted for, or received by a licensee or any other person in connection with the investigating, arranging, negotiating, procuring, guara…
9 V.I.C. § 915 Exemptions
0.3K chars
Sections 792, 794, 795, 802, and 803 do not apply to any commercial loan of a bona fide principal amount of $5,000 or more, or to a duly licensed finance lender in connection with any loan or loans, if the provisions of this section are not used for the purpose of evading this ch…
9 V.I.C. § 916 Commercial loans of a bona fide principal amount
6.3K chars
(a) In determining whether a loan is a loan of a bona fide principal amount of the specified amount or more, the following principles apply:(a) If a borrower applies for a loan in a bona fide principal amount of less than the specified amount and a loan to that borrower of a bona…
9 V.I.C. § 917 Institutional investor
8.5K chars
(a) A licensee may sell promissory notes evidencing the obligation to repay loans made by the licensee pursuant to this subchapter or evidencing the obligation to repay loans purchased from and made by another licensee pursuant to this subchapter to institutional investors and ma…
9 V.I.C. § 918 Institutional lender or investor
1.1K chars
(a) A licensee that is a finance lender may sell to an institutional lender, or an institutional investor described in section 917(b)(6), promissory notes evidencing the obligation to repay real estate secured business purpose loans, as defined in Section 24 CFR 3500.5, purchased…
9 V.I.C. § 919 Allowable fee for a dishonored check
0.3K chars
With respect to a loan under this chapter, a fee not to exceed $40 for the return by a depository institution of a dishonored check, negotiable order of withdrawal, or share draft may be charged and collected by the licensee. The fee is not included in charges as defined in this …
9 V.I.C. § 920 Open-end credit programs
1.7K chars
(a) As used in this chapter, “open-end credit program” means a licensee’s plan for making open-end loans pursuant to a loan agreement that sets forth the terms and conditions governing the use of the open-end credit program, expressly stating that the loan is made pursuant to thi…
9 V.I.C. § 921 Fine and/or imprisonment for willful violation—commercial loans
0.6K chars
Any person who willfully violates any provision of this chapter relating to commercial loans, or who willfully violates any regulation or order adopted under this chapter relating to commercial loans, shall, upon conviction, be punished by a fine of not more than $10,000, by impr…
9 V.I.C. § 922 Authority of the Board to issue rules and regulations
0.2K chars
The Board may promulgate regulations and specific rulings, demands, and findings for the enforcement of this chapter, in addition to, and within the general purposes of, this chapter.