2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 1 - General Corporation Law
Subchapter II - Powers
§ 34. Banking powers reserved
Universal Citation: V.I. Code tit. 13, § 34 (2019)
(a) No corporation created under the provisions of this chapter shall, by any implication or construction, be deemed to possess the power of issuing bills, notes, or other evidences of debt for circulation as money, or the power of carrying on the business of receiving deposits of money, or the business of buying gold and silver bullion or foreign coins.
(b) Corporations created or to be created under the provisions of this chapter, or created under the provisions of any prior general corporation law of the United States Virgin Islands to buy, sell and otherwise deal in notes, open accounts and other similar evidences of debt as collateral security therefor, shall not be construed as engaging in the business of banking.
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