PocketLaw | US Virgin Islands Code | Premium Finance Companies and

Premium Finance Companies and Agreements

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Premium finance company defined

Premium finance agreement defined

License required

Levy on deposit

Approval, disapproval of application; license renewal

Grounds for refusal, suspension or revocation of license

Administrative fine and probation

Examinations

Excessive premium finance charge; penalty

Licensee's books and records; reports

Rebates and inducements prohibited

Filing and approval of forms; service charges

Form and content of premium finance agreement

Limitation on service and other charges

Prohibited premium financing

Delinquency, collection, cancellation and check return charges; attorney's fees

Restrictions on premium finance agreements

Delivery of copy of premium finance agreement

Assignment of premium finance agreement

Statement of account; receipts

Extensions or deferrals

Cancellation of insurance contract upon default

Fees