(a)
(1) The Commissioner of Finance shall establish four (4) separate bank accounts (“Accounts”), distinct and independent of one another and the General Fund, dedicated to receiving, in trust, for the benefit of local law enforcement agencies, Federal Equitable Sharing Program Funds (“Sharing Funds”).
(2) Each account shall contain only Sharing Funds and shall not contain any local funds.
(3) Sharing Funds for local law enforcement agencies shall only be deposited into an account established pursuant to this section and shall not be deposited into the General Fund or into any other account.
(4) The term “local law enforcement agencies,” as used in this section, shall include the Virgin Islands Police Department, the Department of Planning and Natural Resources, the Virgin Islands Drug Enforcement Bureau, and the Virgin Islands Department of Justice.
(5) The Commissioner of Finance and the head of each designated local law enforcement agency shall be joint signatories on their respective Account.
(b) The Commissioner of Finance shall deposit all Sharing Funds into the Account for each law enforcement agency designated by the federal government to receive those Sharing Funds.
(c) The Commissioner shall disburse such Sharing Funds only as directed by the local law enforcement agency designated by the federal government to receive such Sharing Funds. In accordance with federal law, Sharing Funds shall be used only for law enforcement purposes.
(d) The Commissioner shall instruct the financial institution holding the Accounts to mail the monthly statements to the Commissioner and the head of each respective local law enforcement agency.
(e) If a local law enforcement agency not listed under the provisions of this section is designated by the federal government to receive Sharing Funds, the Commissioner shall establish and operate another Account in the manner described in this section.