V.I. Code tit. 33, § 3062 (2019)
2019 US Virgin Islands Code|Title 33 - Taxation and Finance|Subtitle 3 - Finance|Chapter 111 - Government Funds|§ 3062. Consumer Protection Fund

 (a) The Legislature finds that historically the resources and funding provided the Department of Licensing and Consumer Affairs has been totally inadequate to enable the Department to accomplish its statutory mandate. Of critical consequence is the unforeseen nature of the Department's operating methods which do not allow for the proper handling of emergencies or critical fortuitous events. Realizing that such contingencies are virtually impossible to plan for, and noting fully that deceptive, misleading or otherwise fraudulent practices may arise during undetermined periods of the fiscal year, there is a critical need to have a reliable source of funds available to purchase special services and equipment. Therefore, the Legislature having taken proper notice of the special needs of the Department, notes that it is detrimental to the public interest not to provide for the general uncertainties within the market place. The Legislature also finds that the appropriate mechanism for addressing these needs would be the re-establishment of the Consumer Protection Fund (hereinafter referred to as “the Fund”). (b) The purpose of the Consumer Protection Fund is to protect the public from fraud, confusion, deception, misrepresentation or other fraudulent practices within the market place. (c) There is established in the Treasury of the Virgin Islands a special revolving fund to be designated the “Consumer Protection Fund.” The Commissioner of Finance shall provide for the administration of the Fund as a separate and distinct fund in the Treasury and no amounts shall be available for expenditure or disbursement therefrom except as provided in this section. (d) The Fund shall consist of all sums appropriated thereto by the Legislature and all fines and penalties imposed by the courts and the Commissioner of Licensing and Consumer Affairs for violations of the Consumer Protection laws of Title 12A, VIC, and the licensing provisions of Title 27, VIC, and such other laws, or duly promulgated rules and regulations, as may be applicable. (e) Monies contained in the Fund shall remain available to the Department until expended and shall be used for, but not limited to, the following consumer purposes: (1) To study the problems of the consumer and determine the best methods of protecting the consumer interests; (2) To compile, evaluate and publicize the existing laws and regulations for the protection of consumers; (3) To promote and watch over the enforcement of all laws, rules, regulations and orders which affect the interest of consumers; (4) To educate and guide consumers in the adequate solution of their problems and in the best use of their income and of their credit, using all techniques and means of communication; (5) To promote the establishment of quality standards for consumer products and to require adherence thereto; (6) To offer technical and legal advice to consumers; (7) To conduct industry wide investigations in order to evaluate complaints of fraudulent, deceptive, and unconscionable trade practices; (8) To represent the consumer public before any private entity or public organization in matters affecting consumer interests; (9) To serve as mediator, negotiator or arbitrator in the solution of controversies arising between consumers and suppliers; (10) To stimulate the formation of and to assist nonprofit private groups of consumers, exclusively engaged in protecting and watching over the interest of consumers; (11) To promote, on behalf of consumers, fair and honest practices of commerce and industry; (12) To provide for specialized training for all staff personnel in relation to all consumer protection and licensing laws; (13) To enter into contracts and agreements with public or private institutions for carrying out investigations, examinations or analyses of products, articles or services, as well as to carry out publicity campaigns; (14) To acquire necessary equipment for the effective administration of the Department; (15) To hire personnel for the effective administration of the Department. In addition to the enumerated uses stated above, monies shall be disbursed from the Fund by the Commissioner of Finance, upon authorization of the Commissioner of the Department of Licensing and Consumer Affairs, for the administration of the Department of Licensing and Consumer Affairs and the enforcement of the consumer protection laws of Title 12A and the licensing laws of Title 27 of this Code. (f) The Commissioner of Licensing & Consumer Affairs shall submit quarterly reports of expenditures from the fund to the Commissioner of Finance within thirty days after each quarter. (g) Deleted.