™Your Policy Risk Impact Agent
49 chapters · 915 sections in this title.
22 V.I.C. § 6661 Swap agreements and other forms of asset management agreements
0.6K chars
An SPFC may enter into swap agreements, or other forms of asset management agreements, including guaranteed investment contracts, or other transactions that have the objective of leveling timing differences in funding of up-front or ongoing transaction expenses or managing asset,…
22 V.I.C. § 6662 Authority to enter into contracts; contents
7.9K chars
(a) An SPFC, at any given time, may enter into and effectuate an SPFC contract with a counterparty, if the SPFC contract obligates the SPFC to indemnify the counterparty for losses and that contingent obligations of the SPFC under the SPFC contract are securitized through an SPFC…
22 V.I.C. § 6663 Securities issued by SPFC as insurance contract; underwriters or selling agents as insurance producers
0.8K chars
Securities issued by an SPFC pursuant to an insurance securitization may not be considered to be insurance or reinsurance contracts. An investor in these securities or a holder of these securities, by sole means of this investment or holding, may not be considered to be transacti…
22 V.I.C. § 6664 Requirements and guidelines for asset management
7.0K chars
(a) In fulfilling its function, the SPFC must adhere to the following requirements and, to the extent of its powers, must ensure that contracts obligating other parties to perform certain functions incident to its operations are substantively and materially consistent with the fo…
