Title 22 — Insurance
49 chapters · 1,014 sections in this title.
22 V.I.C. § 1671 Definitions
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(a) “Ambulance service association” or “association” means any person issuing ambulance service contracts as defined in this section, other than an authorized insurer. (b) “Ambulance service contract” or “preened [sic] ambulance service contract” means any contract or agreement w…
22 V.I.C. § 1672 Powers of Commissioner; regulations
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The Commissioner shall administer this Chapter; and to that end, may adopt, promulgate, and enforce regulations necessary and proper to effectuate any provisions of this chapter.
22 V.I.C. § 1673 Applicability of other laws
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(a) Except as provided in this chapter, ambulance service associations shall be exempt from all other provisions of the Virgin Islands Insurance Code. (b) Any rehabilitation, liquidation, conservation, or dissolution of an ambulance service association insurer shall be conducted …
22 V.I.C. § 1674 Certificate of authority required
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(a) No person may receive, hold, control, or manage any funds tendered as payment on any ambulance service contract until such person has a subsisting certificate of authority issued by the Commissioner. The certificate of authority shall expire on December 31st succeeding its is…
22 V.I.C. § 1675 Certificate of authority; annual statement; renewal
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(a) An application to the Commissioner for a certificate of authority shall be accompanied by:(1) The deposit required by section 1677 of this title;(2) The ambulance service contracts proposed to be written;(3) The name and address of the place of business of the person offering…
22 V.I.C. § 1676 Capital funds required
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(a) Any person applying for a certificate of authority under section 1675 of this title shall possess unimpaired paid-in capital or paid-in capital stock, if a stock association, or unimpaired surplus, if a foreign mutual or foreign reciprocal association, or a net trust fund, if…
22 V.I.C. § 1677 Required deposit or bond
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(a) To assure the faithful performance of its obligation to its members or subscribers, every ambulance service association shall, prior to issuance of its certificate of authority by the Commissioner, deposit with the Commissioner, securities of the type eligible for deposit by …
22 V.I.C. § 1678 Levy upon deposit
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No judgment creditor or other claimant of an association shall have the right to levy upon any of the assets or securities held in the territory as a deposit under section 1677 of this title.
22 V.I.C. § 1679 Suspension or revocation of, or refusal to renew certificate of authority
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(a) The Commissioner may, in his discretion, suspend, revoke, or refuse to renew the certificate of authority of any association if he finds that the association:(1) Has violated any lawful order, rule or regulation of this chapter.(2) Is in unsound financial condition so as to r…
22 V.I.C. § 1680 Notice of suspension or revocation of certificate of authority
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(a) The Commissioner shall promptly give notice of the suspension or revocation of the certificate of authority of an association to its sales representatives in the territory of record in the office of the Commissioner. (b) In his discretion, the Commissioner may cause notice of…
22 V.I.C. § 1681 Duration of suspension; obligations of association during suspension period; reinstatement
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(a) The suspension of the certificate of authority of an association shall be for a period not to exceed one year, as specified by the Commissioner in the order of suspension. The Commissioner may subsequently shorten or rescind the order upon which the suspension is based. (b) D…
22 V.I.C. § 1682 Administrative fine in lieu of suspension or revocation of certificate of authority
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(a) If the Commissioner finds that one or more grounds exist for the revocation or suspension of a certificate of authority issued under this chapter, the Commissioner may, in lieu of such suspension or revocation, impose a fine upon the insurer or association. (b) With respect t…
22 V.I.C. § 1683 Unfair trade practices
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Every association and its representatives and employees shall be subject to the provisions of chapter 49 of this title.
22 V.I.C. § 1684 Filing of contracts, forms and rates
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(a) No contract form nor related form may be issued or used in the territory unless it has been filed with and approved by the Commissioner. (b) Every such filing shall be made not less than 30 days in advance of issuance or use. At the expiration of 30 days from the date of fili…
22 V.I.C. § 1685 Tax on premiums and assessments
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(a) In addition to the taxes provided for in this chapter for associations, and license fees as provided in this title as to insurers, each such association and insurer shall, annually on or before March 31, file with the Commissioner, its annual statement, in a form as prescribe…
22 V.I.C. § 1686 Examination of associations
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Ambulance service associations shall be subject to periodic examination by the Commissioner in the same manner and subject to the same terms and conditions as apply to insurers under chapter 5 of this title.
22 V.I.C. § 1687 Service of process
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Ambulance service associations shall be subject to service of process in the same manner and subject to the same terms and conditions, and fees as apply to insurers under chapter 9, sections 218 and 219 of this title.
22 V.I.C. § 1688 Registration of sales representatives
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Every association or insurer shall on forms prescribed by the Commissioner, register, on or before December 31st of each year, the name and business office address of each sales representative employed by it, and shall within 30 days after termination of the employment notify the…
22 V.I.C. § 1689 Grounds for compulsory refusal, suspension, or revocation of registration of sales representative
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(1) The Commissioner shall deny, suspend, revoke, or refuse to renew the registration of any sales representative if it is found that, as to sales representatives, any one or more of the following grounds exist:(1) Material misstatement, misrepresentation, or fraud in registratio…
22 V.I.C. § 1690 Grounds for discretionary refusal, suspension, or revocation of registration of sales representatives
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(1) The Commissioner may, in his discretion, deny, suspend, revoke, or refuse to renew the registration of any sales representative if it is found that the sales representative has committed any of the following acts under circumstances for which such denial, suspension, revocati…
22 V.I.C. § 1691 Refusal, suspension, or revocation of registration of sales representatives
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(a) If any sales representative is convicted by a court of a violation of this chapter, the registration of such individual shall be deemed to be immediately revoked. (b) If after an investigation, or upon other evidence, the Commissioner has reason to believe that there may exis…
22 V.I.C. § 1692 Administrative fine in lieu of suspension or revocation of registration
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(a) If the Commissioner finds that one or more grounds exist for the suspension of, revocation of, or refusal to renew or continue any registration issued under this chapter, the Commissioner may, in his discretion, in lieu of such suspension, revocation, or refusal, on a first o…
22 V.I.C. § 1693 Disposition of taxes and fees
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All license fees, taxes on premiums and assessments, registration fees, and administrative fines and penalties collected under this chapter from associations shall be deposited to the Insurance Guaranty Fund of the Treasury of the Government of the Virgin Islands.
22 V.I.C. § 1694 Insurance business not authorized
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Nothing in the Insurance Code or this chapter shall be deemed to authorize any ambulance service association to transact any business other than that of ambulance service contracts or to otherwise engage in any other type of insurance unless the association is authorized to do so…
22 V.I.C. § 1695 Fronting not permitted
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No insurer or ambulance service association shall act as a fronting company for any unauthorized insurer or ambulance service association. A “fronting company” is an insurer or ambulance service association which by reinsurance or otherwise, generally transfers to one or more una…
22 V.I.C. § 1696 Certain ambulance service association relations with funeral directors prohibited
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(a) No association shall permit any funeral director or undertaker, or any member of his immediate family, to directly or indirectly by association or incorporation act as the representative, adjuster, claim agent, special agent, sales representative, or agent for such associatio…
22 V.I.C. § 1697 Penalty for violation
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In addition to any applicable denial of, suspension of, revocation of, or refusal to renew any certificate of authority, any person who knowingly makes a false of otherwise fraudulent application for a certificate of authority or registration under this chapter, is guilty of a mi…
22 V.I.C. § 1698 Investigatory records
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All active investigatory records of the Commissioner made or received pursuant to this chapter, and any active examination records necessary to complete an active investigation, shall be confidential and shall not be subject to public inspection under the provisions of Title 3, c…