2019 US Virgin Islands Code
Title 22 - Insurance
Chapter 61 - Premium Finance Companies and Agreements
§ 1635. Prohibited premium financing

Universal Citation: V.I. Code tit. 22, § 1635 (2019)
Previous Next
  • No premium finance company shall, in a premium finance agreement, provide for the cost of:

    • (1) A membership in an automobile club. The term “automobile club” means a legal entity which, in consideration of dues, assessments, or periodic payments of money, promises its members or subscribers to assist them in matters relating to the ownership, operation, use, or maintenance of a motor vehicle; however, this definition of “automobile club” does not include persons, associations, or corporations which are organized and operated solely for the purpose of conducting, sponsoring, or sanctioning motor vehicle races, exhibitions, or contests upon racetracks, or upon racecourses established and marked as such for the duration of such particular events.

    • (2) An accidental death and dismemberment policy sold in combination with a personal injury protection only policy.

  • The Commissioner shall promulgate rules to assure disclosure, at the time of sale, of coverages financed with personal injury protection.
Previous Next
Disclaimer: These codes may not be the most recent version. US Virgin Islands may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.