2019 US Virgin Islands Code
Title 9 - Banking
Chapter 13 - Receivership and Liquidation
§ 152. Cancellation of license and liquidation of bank or foreign bank; liability of directors

If the directors of any bank or foreign bank knowingly violate or knowingly permit any of the officers, agents or employees of the bank or foreign bank doing business in the United States Virgin Islands to violate any of the provisions of sections 5, 38, 39, and 101 of this title, the license of the bank shall be cancelled by the Lieutenant Governor if the Banking Board orders such cancellation, and the Board may declare such bank in liquidation. Such violation, however, shall be determined and adjudged by the District Court in a suit brought for that purpose by the Attorney General of the United States Virgin Islands at the instance and in the name of the Banking Board before the license may be cancelled and the association may be declared dissolved. In the event of such violation, every director who participated in or assented to the same shall be held liable in his personal and individual capacity for all damages which the bank, its shareholders or any other person shall have sustained in consequence of such violation.