2019 U.S. Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 13 - Economic Development Corporations
§ 811. Depository
Universal Citation:
V.I. Code tit. 13, § 811 (2019)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. The corporation shall not receive money on deposit.
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