2019 US Virgin Islands Code
Title 22 - Insurance
Chapter 9 - Insurers; General Requirements
§ 211. Certificate of authority; mandatory refusal, revocation, suspension
Universal Citation: V.I. Code tit. 22, § 211 (2019)
- The Commissioner shall refuse to renew or shall revoke or suspend an insurer's certificate of authority, in addition to other grounds therefor in this title, if the insurer—
(1) is a foreign or alien insurer and no longer qualifies or meets the requirements of the authority; or, is a domestic mutual insurer, and fails to make good a deficiency of assets as required by the Commissioner;
(2) is a domestic stock insurer and has assets less in amount than its liabilities, including its capital stock as a liability, and has failed to make good such deficiency as required by the Commissioner;
(3) knowingly exceeds its charter powers or its certificate of authority.
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.
