(a) Any person applying for a certificate of authority under section 1675 of this title shall possess unimpaired paid-in capital or paid-in capital stock, if a stock association, or unimpaired surplus, if a foreign mutual or foreign reciprocal association, or a net trust fund, if a business trust association, in an amount not less than $100,000 to be maintained in a financial institution within the Virgin Islands.
(b) After issuance of a certificate of authority, an ambulance service association shall maintain unimpaired paid-in capital stock, if a stock association, or unimpaired surplus, if a foreign mutual or foreign reciprocal association, or a net trust fund, if a business trust association, in an amount not less than $75,000.