(a) Each notary public shall pay to the Treasury of the Virgin Islands an initial fee of $100.00 for the commission and thereafter, on the 1st day of January of each year, an annual fee of $25.00. Upon failure to pay the annual fee, the Lieutenant Governor shall, after giving the notary public 30 calendar days notice of his intention to do so, cancel such appointment.
(b) Each notary public shall execute a bond in favor of the Government of the United States Virgin Islands, in the sum of $5,000, from any insurance/bonding company authorized to do business in the Virgin Islands, or submit two (2) resident sureties who are owners, within the Virgin Islands, of real property with the value of $10,000 over and above encumbrances thereon, which bonds must be approved by the Chief Justice of the Supreme Court; provided that the Chief Justice of the Supreme Court shall notify the Office of the Lieutenant Governor and the applicant of the approval of the bond.
(c) Each notary public, upon the approval of his bond and after having taken the official oath, shall transmit such bond and oath, duly signed by him, to the Office of the Lieutenant Governor, whereupon the Lieutenant Governor may issue a commission.
(d) A notary public may, at the expiration of his or her term of office, apply for a renewal of the commission by the filing of an application accompanied with a new bond and a renewal fee of $75.00, and such application shall, if all other qualifications are in order, be given priority over other applications, provided it is postmarked no later than 60 days after the term ends.
(e) A notary public who fails to timely apply for a renewal shall be notified and a determination made regarding his or her desire to apply for renewal of the commission.
(f) The Lieutenant Governor shall have the authority to promulgate and issue an application form incorporating therein the qualifications and conditions as set forth in this chapter.
(g) The Lieutenant Governor may cancel a commission if there is satisfactory proof that the notary public is no longer qualified in accordance with the provisions of this chapter. Any such decision must be made known to the notary public within ten days after the Lieutenant Governor's determination, and such notary public shall have the right to appear in person or in writing to appeal the decision. The decision of the Lieutenant Governor, after hearing and determination on the appeal, shall be final; provided, an aggrieved notary shall have the right to appeal the final decision of the Lieutenant Governor to the Superior Court.