Authority to require agreements in connection with the granting of government loans and leaves of absence

1. Law
2. US Virgin Islands Code
3. Executive
4. Departments and Agencies Generally
5. General Provisions Regarding Government Agencies
6. Authority to require agreements in connection with the granting of government loans and leaves of absence

• Every Commissioner, Director, Board, and every other person or group of persons in any department, bureau, division, or any other agency of the Government of the United States Virgin Islands who, on the effective date of these provisions, is or who shall thereafter be authorized and empowered to grant government loans, shall or may, before making any such grant on and after such effective date, require an agreement as follows, but not in contravention of the provisions of any other law:

  • (1) Any employee of the Government of the United States Virgin Islands who is granted a loan under any provisions in the law shall be required, as a prior condition to such grant, to execute a contract with said Government agreeing that he will repay such loan, with any interest thereon required by law, by a deduction from his regular salary of not less than five percent and not more than twenty percent until the loan with any interest has been repaid in full and that the Government may make the necessary deductions.

  • (2) In the case of a loan granted under any provisions of the law to any person employed by other than the Government of the United States Virgin Islands, the Commissioner, Director, Board, or other person or group of persons granting the loan may require, as a prior condition to such grant, a contract among the Government, the grantee, and the employer of the grantee to the effect that such employer will withhold an amount from the grantee's regular salary equal to not less than five percent and not more than twenty percent and that such employer will transmit such amount regularly to said Government so long as the grantee is in his employ and the loan with any interest thereon required by law has not been repaid in full.

  • (3) Any grantee under the provisions of subdivisions (2), and (3) of this section shall be required to agree further that, in the event that he leaves the service of the Government, if he is a grantee under subdivision (2), or in the event that he leaves the service of his employer, under subdivision (3), the Government of the United States Virgin Islands may negotiate and execute an agreement with any subsequent employer of the grantee to the effect that such employer will withhold an amount from the grantee's regular salary equal to not less than five percent and not in excess of twenty percent and that such employer will transmit such amount regularly to said Government so long as the grantee is in the employ of such employer and the loan with any interest thereon required by law has not been repaid in full.

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