2019 US Virgin Islands Code
Title 28 - Property
Chapter 29 - Uniform Unclaimed Property Act
§ 664. Deposit of funds
(a) Except as otherwise provided by this section, the administrator shall promptly deposit in the General Fund of the Treasury of the Virgin Islands of the [sic] all funds received under this chapter, including the proceeds from the sale of abandoned property under section 663. The administrator shall retain in a separate trust fund at least $100,000 from which the administrator shall pay allowed claims. The administrator shall record the name and last known address of each person appearing from the holders' reports to be entitled to the property and the name and last known address of each insured person or annuitant and beneficiary and with respect to each policy or annuity listed in the report of an insurance company, its number, the name of the company, and the amount due.
(b) Before making a deposit to the credit of the General Fund of the Treasury of the Virgin Islands, the administrator may deduct:
(1) expenses of sale of abandoned property;
(2) costs of mailing and publication in connection with abandoned property;
(3) reasonable service charges; and
(4) expenses incurred in examining records of holders of property and in collecting the property from those holders.
