2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 1 - General Corporation Law
Subchapter IV - Directors and Officers
§ 69. Officers; selection, term, duties

Universal Citation: V.I. Code tit. 13, § 69 (2019)
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  • (a) Every corporation organized under this chapter shall have a president, secretary and treasurer, who shall be chosen by the directors. The president shall be chosen from among the directors. The secretary shall record all the proceedings of the meetings of the corporation and directors in a book to be kept for that purpose, and perform such other duties that shall be assigned to him. The treasurer may be required to give bond in such sum and with such surety or sureties as shall be provided by the bylaws for the faithful discharge of his duty.

  • (b) The corporation may have such other officers and agents as are appropriate, who shall be chosen in such manner and hold their offices for such terms as are prescribed by the bylaws, or determined by the board of directors or other governing body, and may secure the fidelity of any or all of such officers by bond or otherwise.

  • (c) Any two offices (but not more than two), other than the offices of president and secretary, may be held by the same person.

  • (d) A failure to elect annually a president, secretary, treasurer or other officers shall not dissolve a corporation.

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