Title 22 — Insurance
49 chapters · 1,014 sections in this title.
22 V.I.C. § 1060 Definitions
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(a) For purpose of this section, the following terms have the following meanings:(a) “Commissioner” shall have the following meaning ascribed to it in 22 V.I.C., section 51;(b) “Customer” means a person who purchases portable electronics or services;(c) “Enrolled Customer” means …
22 V.I.C. § 1061 Licensure of vendors
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(a) A vendor is required to hold a limited lines license to sell or offer coverage under a policy of portable electronics insurance. (b) A limited lines licenses issued under this subdivision shall authorize any employee or authorized representative of the vendor to sell or offer…
22 V.I.C. § 1062 Requirements for sale of portable electronics insurance
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(a) At every location where portable electronics insurance is offered to customers, brochures or other written materials must be made available to a prospective customer which:(1) disclose that the portable electronics insurance may provide a duplication of coverage already provi…
22 V.I.C. § 1063 Authority of vendors of portable electronics
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(a) The employees and authorized representatives of vendors may sell or offer portable electronics insurance to customers and shall not be subject to licensure as an insurance producer under this chapter provided that:(1) the vendor obtains a limited lines license to authorize it…
22 V.I.C. § 1064 Suspension or revocation of license
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(a) If a vendor of portable electronics or its employee or authorized representative violates any provision of this section, the Commissioner may do any of the following: (b) After notice and hearing, impose fines not to exceed $500 per violation or $5,000 in the aggregate for su…
22 V.I.C. § 1065 Termination of portable electronics insurance
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(1) Notwithstanding the provision of law:(1) An insurer may terminate or otherwise change the terms and conditions of a policy of portable electronics insurance only upon providing the vendor policyholder and enrolled customers with at least thirty (30) days’ notice, as provided …
22 V.I.C. § 1066 Application for license and fees
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(a) A sworn application for license under the chapter shall be made to and be filed with the Commissioner on forms prescribed and furnished by the Commissioner. (b) The application shall:(1) Provide the name, residence address, and other information required by the Commissioner f…