2019 US Virgin Islands Code
Title 32 - Sports and Parks
Chapter 21 - Virgin Islands Casino and Resort Control Act of 1995
Article XIV - Virgin Islands Internet Gaming and Internet Gambling Act
Subarticle F - Permissible Investments
§ 629. Permissible investments

Universal Citation: V.I. Code tit. 32, § 629 (2019)
Next

  • (a) A licensee shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles of not less than the aggregate amount of all of its outstanding prizes and monies held on account for players by the licensee.

  • (b) The Commission with respect to any licensees, may limit the extent to which a type of investment within a class of permissible investments may be considered a permissible investment, except for money and certificates of deposit issued by a bank. The Commission by rule or regulation may prescribe or by order allow other types of investments that the Commission determines to have a safety substantially equivalent to other permissible investments.

  • (c) Permissible investments, even if commingled with other assets of the licensee, are held in trust for the benefit of the players and their personal representatives in the event of bankruptcy or receivership of the licensee.

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.