V.I. Code tit. 22, § 758 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 31 - Virgin Islands Insurance Producer and Adjuster Licensing|§ 758. Application for license

 (a) Any corporation, firm or individual having a place of business in the Virgin Islands and acting as an agent may be licensed by the Commissioner as a resident insurance producer to solicit, accept applications, write, issue, deliver or place policies or contracts of direct insurance upon risks located within the Virgin Islands for an insurer authorized to transact business. During the time, the resident insurance producer shall conform to the agreement and requirements of this section and other provisions of the insurance law, if an application for an insurance producer’s license is filed with the Commissioner accompanied by a statement signed by the proposed insurance producer on a form prescribed by the Commissioner in which the insurance producer agrees not to rebate any part of the premium or commission or offer any valuable consideration as an inducement to take insurance other than that clearly expressed in the policy and that, if the insurance producer signs policies, the insurance producer will maintain an office within the Virgin Islands and keep therein at all times a complete record of all applications for and policies of insurance placed by or through the insurance producer and will not sign any policies in blank to be issued outside of his or her office. (b) An individual applying for a resident insurance producer or adjuster license shall make application to the Commissioner on the Uniform Application or any other application prescribed by the Commissioner, along with any additional information required by the Commissioner, and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the individual’s knowledge and belief. As a part of, or in connection with any such application, the applicant shall furnish information concerning the applicant’s identity, personal history, experience, business record, purposes, and other pertinent facts as the Commissioner may reasonably require. Before approving the application, the Commissioner shall find that the individual: (1) is at least eighteen years of age or over; (2) is a bona fide resident of and actually resides in the Virgin Islands; (3) is of good reputation and character, is honest and trustworthy, and is otherwise suitable to be licensed; (4) has not committed any act that is a ground for refusal, nonrenewal or revocation as set forth in section 776; (5) has paid the nonrefundable application fee and any other fees as prescribed by the Commissioner; (6) has completed a pre-licensing course of study for the lines of authority for which the applicant has applied; (7) has successfully passed the examinations for the lines of authority for which the person has applied; (8) has submitted a national criminal records check, with fingerprint; (9) if applying for a resident insurance agent license with a variable life-variable annuity line of authority, shall include in the applicant’s application the applicant’s individual central registration depository number; (10) if applying for a resident public adjuster license, has filed the bond for $5,000 and has had experience or special education or training with reference to the handling of loss claims under insurance contracts, of sufficient duration and extent reasonably to make him competent to fulfill the responsibilities of an adjuster; (11) if applying for an insurance agent license, has on file an appointment form by an insurer; (12) if applying for an insurance solicitor license, has on file an appointment form by an agent or broker; (13) if a resident producer or adjuster, other than an agent licensed for life or disability insurances only, shall have and maintain a principal place of business in the Virgin Islands; and (14) if applying for a broker’s license or for the renewal of a broker’s license existing on the effective date of this title, must maintain a bond executed by an authorized corporate surety approved by the Commissioner in the amount of $10,000. The bond must be continuous in form, and total aggregate liability on the bond may be limited to the payment of $10,000. (c) A business entity acting as an adjuster must obtain an insurance adjuster license. Application must be made to the Commissioner on the Uniform Application or any other application prescribed by the Commissioner, and the individual signing the application shall declare under penalty of refusal, nonrenewal, or revocation of the license that the statements made in the application are true, correct, and complete to the best of the individual’s knowledge and belief. Before approving the application, the Commissioner shall find that the business entity: (1) if a corporation, is other than an insurer; (2) is domiciled or maintains its principal place of business in the Virgin Islands; (3) is empowered to be an adjuster under a member’s agreement, if a firm, or by its articles of incorporation, if a corporation; (4) has paid the nonrefundable application fee and any other fees as prescribed by the Commissioner; (5) has designated a licensed adjuster responsible for the business entity’s compliance with the insurance laws, rules and regulations of the Virgin Islands; (6) has not committed any act that is a ground for refusal, nonrenewal, or revocation as set forth in section 776; (7) if applying for a resident public adjuster, has filed a bond in the amount of $5,000.00; and (8) has submitted any other documents requested by the Commissioner. (d) A resident business entity acting as a title insurance agent must hold a resident insurance producer license. Application must be made to the Commissioner on the Uniform Business Entity Application or any other application prescribed by the Commissioner, and the individual submitting the application shall declare under penalty of refusal, nonrenewal, or revocation of the license that the statements made in the application are true, correct, and complete to the best of the individual’s knowledge and belief. Before approving the application, the Commissioner shall find that the business entity: (1) has paid the non-refundable application fee and any other fees as prescribed by the Commissioner; (2) maintains a lawfully established place of business in the Virgin Islands; (3) is empowered to be a title insurance agent under a members” agreement, if a limited liability company, or by its articles of incorporation, if a corporation; (4) is appointed as an agent by one or more authorized title insurance companies; (5) has designated a licensed title agent responsible for the business entity compliance with the insurance laws, rules and regulations in the Virgin Islands; and (6) has complied with all applicable laws, rules and regulations of the Virgin Islands. (e) The Commissioner may require any documents reasonably necessary to verify the information contained in an application and may, from time to time, require any licensed insurance producer or insurance adjuster to produce the information requested in an application for license. (f) A firm or corporation may not be licensed as an agent or broker unless each individual is designated in the license to exercise the powers and is qualified as though the agent or broker were the sole individual. (g) Each insurer that sells, solicits or negotiates any form of limited line credit insurance shall provide to each individual whose duties will include selling, soliciting or negotiating limited line credit insurance a program of instruction that must be approved by the Commissioner. (h) If the Commissioner finds that the applicant has qualified pursuant to the Commissioner’s requirements, and that the license fee has been paid, the Commissioner shall issue the license. Otherwise, the Commissioner may refuse to issue the license.