2019 US Virgin Islands Code
Title 22 - Insurance
Chapter 60 - Third Party Administrators
§ 1540. Administrative fine
Universal Citation: V.I. Code tit. 22, § 1540 (2019)
(a) If the Commissioner finds that one or more grounds exist for the revocation or suspension of a license issued under this chapter, the Commissioner may, in lieu of, or in addition to such suspension or revocation, impose a fine upon the TPA.
(b) The Commissioner may impose a fine upon a TPA not to exceed $5,000 for each violation for knowingly and willfully violating an order of the Commissioner. In no event, may the fine exceed an aggregate amount of $25,000 for any violations arising out of the same action.
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