2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 11 - Forfeiture of Certificate of Authority
§ 751. Forfeiture of charter and revocation of permit
- The Attorney General is authorized to institute a civil proceedings in the District Court to forfeit the certificate of authority of a corporation organized under the laws of the United States Virgin Islands or to revoke the certificate authorizing a foreign corporation to conduct businesses in the United States Virgin Islands when:
(a) Any of the corporation officers or any other person controlling the management or operation of such corporation, with the knowledge of the president and a majority of the board of directors or under such circumstances wherein the president and a majority of the directors should have knowledge, is a person or persons engaged in activities such as organized violent revolutionary or unlawful activity aimed at the overthrow of the Government of the United States Virgin Islands (or any of its instrumentalities, boards, agencies or commissions), organized homosexuality, organized crimes against nature, organized prostitution, organized gambling, organized narcotics, organized extortion, organized embezzlement or who is connected directly or indirectly with organizations, syndicates or criminal societies engaging in such; or
(b) A director, officer, employee, agent or stockholder acting for, through or on behalf of such corporation has, in conducting the corporation's affairs, purposely engaged in a persistent course of violent revolutionary or unlawful activity aimed at the overthrow of the Government of the United States Virgin Islands (its instrumentalities, agencies, boards, or commissions), organized crime, homosexuality, crimes against nature, intimidation, coercion, bribery, prostitution, gambling, extortion, embezzlement, unlawful sale of narcotics or other such illegal conduct, with the knowledge of the president and majority of the board of directors or under such circumstances wherein the president and a majority of the directors should have knowledge, with the intent to compel or induce other persons, firms or corporations to deal with such corporation or engage in any such illegal conduct; or
(c) For the prevention of future illegal conduct of the same character, the public interest requires the charter of the corporation be forfeited and the corporation be dissolved or the certificate of authority be revoked.
