2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 1 - General Corporation Law
Subchapter IV - Directors and Officers
§ 74. Liability for watered stocks and bonds and loans to stockholders
Universal Citation: V.I. Code tit. 13, § 74 (2019)
If any stock or bonds of any corporation be fraudulently issued for property at more than the cash value, or if a reduction of capital be made in the guise of a loan to stockholders, the directors of the corporation shall be jointly and severally liable to the creditors of the corporation for any loss or damage arising therefrom.
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