Evasive business tactics

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  • (a) If the Banking Board finds that the conduct of any other business conceals a violation or evasion of this chapter, any rule or regulation adopted under this chapter, or any law regulating mortgage loan lending in the Virgin Islands, the Banking Board may issue a written order to a licensee to:

    • (1) stop doing business at any place in which the other business is conducted or solicited; or

    • (2) stop doing business in association or conjunction with the other business.

  • (b) A licensee who violates an order of the Banking Board issued under this section shall be subject to the penalties provided by section 378 of this chapter.

  • (c) The Banking Board may request the Attorney General of the Virgin Islands to take appropriate action for the enforcement of an order issued under this section.


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