V.I. Code tit. 19, § 2023 (2019)
2019 US Virgin Islands Code|Title 19 - Health|Part VI - Regulatory Provisions Concerning Public Health|Chapter 59B - Cemeteries|Subchapter II - Private Cemeteries|§ 2023. Bond; form of

 The surety bond required by all licensees under this subchapter shall be in the following form:KNOW ALL MEN BY THESE PRESENTS, That ____ of the Virgin Islands, having a place of business in ____, Virgin Islands, as principal, and the ____ of ____, and authorized to conduct and carry on a general surety business in the Virgin Islands, as surety, are held and firmly bound unto ____, Government of the Virgin Islands, in the sum of (____ thousand dollars) (____) lawful money of the United States of America for the payment whereof well and truly to be made, subject to the terms and provisions hereinafter set forth, the said principal and the said surety bind themselves, their successors and assigns, executors and administrators, jointly and severally, firmly by these presents.Signed and Sealed this ____ day of ____ AD ____THE CONDITION OF THIS OBLIGATION IS SUCH THAT, WHEREAS the Commissioner of Public Works under the provisions of subchapter II of chapter 59B of Title 19, Virgin Islands Code, has licensed the said ____, principal herein named as a cemetery company operating in the Virgin Islands to wit: ____.AND WHEREAS the said cemetery company is authorized by said laws to appoint salesmen to represent and assist said cemetery company in its operation pursuant to said subchapter II.PROVIDED HOWEVER, AND UPON THE FOLLOWING EXPRESS CONDITIONS:Provided always that nothing herein shall be construed to make the total maximum liability hereunder of the above named principal or surety more than $25,000.00 regardless of the number of acts of omission or commission of the above named principal or its salesmen.PROVIDED FURTHER, that the liability of the surety on this bond is limited to actual cases of fraud or dishonesty committed by the principal or its salesmen in failing to maintain the care and maintenance trust fund as required by said subchapter II.PROVIDED FURTHER, that no proceedings or action to recover for the loss or losses hereunder shall be brought after the expiration of three years from discovery. In the event the herein bond shall be replaced by any other satisfactory bond and obligation hereunder shall be terminated upon the effective date of said replacement bond without regard to the sixty (60) days notice provision contained hereafter.PROVIDED FURTHER, that either the principal or the surety may cancel this bond as an entirety by giving sixty (60) days written notice to the Commissioner of Public Works at Charlotte Amalie, St. Thomas, Virgin Islands, and if canceled by the surety a copy of said notice of cancellation shall be sent by registered mail to the principal hereunder. Said notice to the Commissioner shall also be sent by registered mail. In case of such cancellation by either the principal or the surety no further obligation shall be incurred under this bond after the expiration of said sixty (60) days, but the liability of the principal and surety shall apply as above set out as to any acts or omissions which may have occurred prior to the effective date of such cancellation.The period for which this bond shall remain in force and effect, unless previously canceled as hereinabove provided for shall be from the date of issuance through December 31 of that year, at the expiration of which it shall cease and terminate as to all future transactions only.Which bond shall be duly executed in accordance with all laws governing surety bonds executed by surety companies under the laws of the Virgin Islands.