Conservation of assets—Foreign insurers

  1. Law
  2. US Virgin Islands Code
  3. Insurance
  4. Mergers, Rehabilitation, Liquidation
  5. Conservation of assets—Foreign insurers

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  • The Commissioner may apply to the District Court for an order directing him to conserve the assets within this territory of a foreign insurer upon any one or more of the following grounds:

    • (1) upon any of the grounds specified in paragraphs (1) to (9), inclusive, of section 1253 of this title and in paragraph (2) of section 1255 of this title;

    • (2) that its property has been sequestrated in its domiciliary sovereignty or in any other sovereignty.


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