2019 US Virgin Islands Code
Title 22 - Insurance
Chapter 18 - Reciprocal or Interinsurance Contracts
§ 440. Certificate of Authority

Universal Citation: V.I. Code tit. 22, § 440 (2019)
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Before issuing any such contracts in this Territory, the attorney shall procure from the Commissioner of Insurance a Certificate of Authority showing that the exchange has complied with all the requirements of this chapter and is authorized to transact business in this Territory, which said Certificate shall expire on the thirty-first day of December, and shall be renewed each year as of the first day of January thereof. Such Certificate shall specify the name or designation under which such contracts of insurance are issued. The Commissioner of Insurance may, after hearing, revoke or suspend any Certificate of Authority issued hereunder in the violation of any of the provisions of this chapter, after reasonable notice has been given such attorney in writing, so that he may appear and show cause why such action should not be taken. Any order of the Commissioner of Insurance may be appealed as provided by the insurance laws of the Territory.

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