2019 US Virgin Islands Code
Title 22 - Insurance
Chapter 9 - Insurers; General Requirements
§ 212. Certificate of authority; discretionary refusal, revocation, suspension

(1) fails to comply with any provision of this title other than those for violation of which refusal, suspension, or revocation is mandatory, or fails to comply with any proper order of the Commissioner;

(2) is found by the Commissioner to be in such condition that its further transaction of insurance in this territory would be hazardous to policyholders and the people in this territory;

(3) refuses to remove or discharge a director or officer who has been convicted of any crime involving fraud, dishonesty, or like moral turpitude;

(4) usually compels claimants under policies either to accept less than the amount due them or to bring suit against it to secure full payment of the amount due;

(5) is affiliated with and under the same general management, or interlocking directorate, or ownership as another insurer which transacts insurance in this territory without having a certificate of authority therefor, except as permitted by this title;

(6) refuses to be examined, or if its directors, officers, employees or representatives refuse to submit to examination or to produce its accounts, records, and files for examination by the Commissioner when required, or refuse to perform any legal obligation relative to the examination; or

(7) fails to pay any final judgment rendered against it in this territory upon any policy, bond, recognizance, or undertaking issued or guaranteed by it, within 30 days after the judgment becomes final or within 30 days after the time for taking an appeal has expired, or within 30 days after dismissal of an appeal before final determination, whichever date is the later.