(a)
(1) When an insurance carrier has certified a motor vehicle liability policy in the manner provided in section 707 of this chapter, the insurer shall not cancel or otherwise terminate the insurance so certified until:
(i) notice of cancellation has been provided to the insured in accordance with the provisions of Title 22, section 827, Virgin Islands Code; and
(ii) at least fifteen (15) days have elapsed since a notice of cancellation has been sent by certified mail to all parties concerned, including but not limited to the Police Commissioner.
(2) Upon receipt of a notice of cancellation from an insurer, or upon proof from other sufficient evidence that the required insurance has not been provided or maintained for a motor vehicle, the Police Commissioner shall immediately suspend the registration of such vehicle.
(3) Upon notice of suspension of the registration of a vehicle, the owner shall return the registration sticker, registration license and license plate, as well as the insurance sticker mandated by section 708 hereof, to the Police Commissioner, Motor Vehicle Bureau, or produce proof of valid insurance. Notice is complete upon the expiration of four (4) days after deposit of such notice in the mail. No person shall possess or display a registration license, registration sticker, insurance sticker or license plate that has been suspended.
(4) Upon the suspension of the registration of a vehicle and after due notice has been given, the Police Commissioner may cause to have removed the license plate, registration sticker and insurance sticker from the vehicle.
(5) Any person whose vehicle registration has been suspended under this section shall pay a fee of $50.00 at the end of such suspension for return of the insurance sticker, registration sticker, license plate, and registration license.
(b) When an insured has filed with the Police Commissioner a motor vehicle liability policy pursuant to the terms of section 707 of this chapter, the insured shall not cancel the policy until (i) the sticker required by section 708 of this chapter has been returned to the Motor Vehicles Bureau; and (ii) a copy of the insured's canceled motor vehicle registration license has been provided to the insurance company or its agent.
(c) An insurance company or its agent shall not be obligated to refund any unearned premium for cancellation of a policy unless the insured has complied with the provisions of subsections (a)(3) or (b) of this Section.