2019 U.S. Virgin Islands Code
Title 21 - Homesteads and Home Loans
Chapter 3 - Housing Rehabilitation Loans
§ 129. Guaranty reserve account
Universal Citation:
V.I. Code tit. 21, § 129 (2019)
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The Authority shall establish a special account, to be known as the Guaranty Reserve Account, and shall pay into this account all monies appropriated and made available by the Virgin Islands Government for the purposes of the account, all payments of principal and interest received pursuant to subsection (d) of section 127 of this chapter and other monies which may be made available for the purposes of the account from any other source. All monies held in the guaranty reserve account shall be used by the Authority to meet its liabilities on guarantees made by it pursuant to sections 127 and 128 of this chapter, and to pay administrative costs of the Authority in administering this chapter.
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