Failure of purchaser to demand statement or to distribute proceeds or to notify creditors

  1. Law
  2. US Virgin Islands Code
  3. Crimes
  4. Fraud and False Statements
  5. Failure of purchaser to demand statement or to distribute proceeds or to notify creditors

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Whoever, being a purchaser, knowingly and willfully fails or neglects to demand from the seller the statement provided for in section 6-104 of Title 11A; or knowingly or willfully fails or neglects to perform any of the acts required of him by sections 6-105 and 6-106 of Title 11A, shall be fined not more than $1,000 or imprisoned not more than 5 years, or both.


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