reglab/housing_qa huggingface dataset:
V.I. Code tit. 22, § 1266 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1266. Priority of certain claims

 (a) In a liquidation proceeding in this territory involving one or more reciprocal states, territories, or commonwealths, the order of distribution of the domiciliary state shall control as to all claims of residents of this and of reciprocal states, territories, or commonwealths. All claims of residents of this territory and of reciprocal states, territories, and commonwealths shall be given equal priority of payment from general assets regardless of where such assets are located. (b) The owners of special deposit claims against an insurer for which a receiver is appointed in this territory or any state shall be given priority against their several special deposits in accordance with the provisions of the statutes governing the creation and maintenance of such deposits. If there is a deficiency in any such deposit so that the claims secured thereby are not fully discharged therefrom, the claimants may share in the general assets, but such sharing shall be deferred until general creditors, and also claimants against other special deposits who have received smaller percentages from their respective special deposits, have been paid percentages of their claims equal to the percentage paid from the special deposit. (c) The owner of a secured claim against an insurer for which a receiver has been appointed in this territory or any state may surrender his security and file his claim as a general creditor, or the claim may be discharged by resort to the security, in which case the deficiency, if any, shall be treated as a claim against the general assets of the insurer on the same basis as claims of unsecured creditors. If the amount of the deficiency has been adjudicated in ancillary proceedings as provided in sections 1261–1268, inclusive, of this title, or if it has been adjudicated by a court of competent jurisdiction in proceedings in which the domiciliary receiver has had notice and opportunity to be heard, such amount shall be conclusive; otherwise the amount shall be determined in the delinquency proceeding in the domiciliary state.
V.I. Code tit. 22, § 1267 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1267. Attachment, garnishment, execution stayed

 During the pendency of delinquency proceedings in this territory or any reciprocal state no action or proceeding in the nature of an attachment, garnishment, or execution shall be commenced or maintained in the courts of this territory against the delinquent insurer or its assets. Any lien obtained by any such action or proceeding within four months prior to the commencement of any such delinquency proceeding or at any time thereafter shall be void as against any rights arising in such delinquency proceeding.
V.I. Code tit. 22, § 1268 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1268. Severability; interpretation

 (a) If any provision of sections 1261–1268, inclusive, of this title, or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of such sections which can be given effect without the invalid provision or application, and to this end the provisions of such sections are declared to be severable. (b) This “Uniform Insurers Liquidation Act” shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states that enact it. To the extent that its provisions, when applicable, conflict with other provisions of this chapter, the provisions of such Act shall control.
V.I. Code tit. 22, § 1269 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1269. Commencement of proceeding; venue

 (a) Proceedings under this chapter involving a domestic insurer shall be commenced in the District Court. (b) The Commissioner shall commence any such proceeding, the Attorney General representing him, by an application to the court or to any judge thereof for an order directing the insurer to show cause why the Commissioner should not have the relief prayed for. On the return of such order to show cause, and after a full hearing, the court shall either deny the application or grant the application together with such other relief as the nature of the case and the interests of policyholders, creditors, holders, members, or the public may require.
V.I. Code tit. 22, § 1270 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1270. Injunctions

 (a) Upon application by the Commissioner for such an order to show cause or at any time thereafter, the court may without notice issue an injunction restraining the insurer, its officers, directors, stockholders, members, agents, and all other persons from the transaction of its business or the waste or disposition of its property until the further order of the court. (b) The court may at any time during a proceeding under this chapter issue such other injunctions or orders as may be deemed necessary to prevent interference with the Commissioner or the proceeding or waste of the assets of the insurer, or the commencement or prosecution of any actions, or the obtaining of preferences, judgments, attachments or other liens, or the making of any levy against the insurer or against its assets or any part thereof.
V.I. Code tit. 22, § 1271 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1271. Deposit of moneys collected

 The moneys collected by the Commissioner in a proceeding under this chapter shall be, from time to time, deposited with the Commissioner of Finance.
V.I. Code tit. 22, § 1272 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1272. Exemption from filing fees

 The Commissioner shall not be required to pay any fee to any public officer in this territory for filing, recording, issuing a transcript or certificate, or authenticating any paper or instrument pertaining to the exercise by the Commissioner of any of the powers or duties conferred upon him under this chapter, whether or not such paper or instrument be executed by the Commissioner, employees, or attorneys of record and whether or not it is connected with the commencement of an action or proceeding by or against the Commissioner, or with the subsequent conduct of such action or proceeding.
V.I. Code tit. 22, § 1273 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1273. Borrowing on pledge of assets

 For the purpose of facilitating the rehabilitation, liquidation, conservation or dissolution of an insurer pursuant to this chapter the Commissioner may, subject to the approval of the court, borrow money and execute, acknowledge and deliver notes or other evidences of indebtedness therefor and secure the repayment of the same by the mortgage, pledge, assignment, transfer in trust, or hypothecation of any or all of the property whether real, personal or mixed of such insurer, and the Commissioner, subject to the approval of the court, shall have power to take any and all other action necessary and proper to consummate any such loans and to provide for the repayment thereof. The Commissioner shall be under no obligation personally or in his official capacity as Commissioner to repay any loan made pursuant to this section.
V.I. Code tit. 22, § 1274 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1274. Report to Governor and Legislature

 The Commissioner shall transmit to the Governor and Legislature in his annual report the names of all insurers proceeded against under this chapter, together with such facts as shall acquaint the policyholders, creditors, stockholders, and the public with the proceedings.
V.I. Code tit. 22, § 1275 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1275. Liquidation; date rights, liabilities fixed

 The rights and liabilities of the insurer and of its creditors, policyholders, stockholders, members and all other persons interested in its estate shall, unless otherwise directed by the court, be fixed as of the date on which the order directing the liquidation of the insurer is filed in the office of the clerk of the court which made the order, subject to the provisions of section 1279 of this title with respect to the rights of claimants holding contingent claims.
V.I. Code tit. 22, § 1276 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1276. Voidable transfers

 (a) Any transfer of, or lien upon, the property of an insurer which is made or created within four months prior to the granting of an order to show cause under this chapter with the intent of giving to any creditor or of enabling him to obtain a greater percentage of his debt than any other creditor of the same class and which is accepted by such creditor having reasonable cause to believe that such a preference will occur, shall be voidable. (b) Every director, officer, employee, stockholder, member, and any other person acting on behalf of such insurer who shall be concerned in any such act or deed and every person receiving thereby any property of such insurer or the benefit thereof shall be personally liable therefor and shall be bound to account to the Commissioner. (c) The Commissioner as liquidator, rehabilitator or conservator in any proceeding under this chapter, may avoid any transfer of, or lien upon the property of an insurer which any creditor, stockholder or member of such insurer might have avoided and may recover the property so transferred unless such person was a bona fide holder for value prior to the date of the granting of an order to show cause under this chapter. Such property or its value may be recovered from anyone who has received it except a bona fide holder for value as above specified.
V.I. Code tit. 22, § 1277 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1277. Priority of distribution

 The priority of distribution of claims from the insurer's estate shall be in accordance with the order in which each class of claims is herein set forth. Every claim in each class shall be paid in full or adequate funds retained for such payment before the members of the next class receive any payment. No subclasses shall be established within any class. The order of distribution of claims shall be: Class 1. The costs and expenses of administration, including but not limited to the following: 1. actual and necessary costs of preserving or recovering the assets of the insurer; 2. compensation for all services rendered in the liquidation; 3. any necessary filing fees; 4. the fees and mileage payable to witnesses; 5. reasonable attorney's fees; 6. the reasonable expenses of a guaranty association in handling claims. Class 2. Debts due to employees for services performed to the extent that they do not exceed $750 and represent payment for services performed within one year before the filing of the petition for liquidation. Officers and directors shall not be entitled to the benefits of this priority. Such priority shall be in lieu of any other similar priority which may be authorized by law as to wages or compensation of employees. Class 3. Claim under non-assessable policies for unearned premiums of other premium refunds, all claims under policies for losses incurred, including third party claims, all claims against the insurer for liability for bodily injury or for injury to or destruction of tangible property which are not under policies, and all claims of a guaranty association or foreign guaranty association. All claims under life insurance and annuity policies, whether for death proceeds, annuity proceeds, or investment values shall be treated as loss claims. That portion of any loss indemnification for which is provided by other benefits or advantages recovered by the claimant shall not be included in this class other than benefits or advantages recovered or recoverable in discharge of familial obligations of support or by way of succession at death or as proceeds of life insurance, or as gratuities. No payment by an employer to his employee shall be treated as a gratuity. Class 4. Claims of general creditors. Class 5. Claims of the federal or any state or local government. Claims, including those of any governmental body for a penalty or forfeiture, shall be allowed in this class only to the extent of the pecuniary loss sustained from the act, transaction, or proceeding out of which the penalty or forfeiture arose, with reasonable and actual costs occasioned thereby. The remainder of such claims shall be postponed to Class 8. Class 6. Claims filed late or any other claims other than claims under Classes 7 and 8. Class 7. Surplus or contribution notes, or similar obligations, and premium refunds on assessable policies. Payment to members of domestic mutual insurance companies shall be limited in accordance with law. Class 8. The claims of shareholders or other owners.
V.I. Code tit. 22, § 1278 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1278. Offsets

 (a) In all cases of mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this chapter, such credits and debts shall be set off and the balance only shall be allowed or paid, except as provided in subsection (b) of this section. (b) No offset shall be allowed in favor of any such person where (1) the obligation of the insurer to such person would not at the date of the entry of any liquidation order, or otherwise, as provided in section 1275 of this title, entitle him to share as a claimant in the assets of the insurer, or (2) the obligation of the insurer to such person was purchased by or transferred to such person with a view of its being used as an offset, or (3) the obligation of such person is to pay an assessment levied against the members of a mutual insurer, or is to pay a balance upon a subscription to the capital stock of a stock insurer.
V.I. Code tit. 22, § 1279 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1279. Allowance of contingent and other claims

 (a) No contingent claim shall share in a distribution of the assets of an insurer which has been adjudicated to be insolvent by an order made pursuant to section 1280 of this title, except that such claims shall be considered, if properly presented, and may be allowed to share where— (1) such claim becomes absolute against the insurer on or before the last day fixed for filing of proofs of claim against the assets of such insurer; or (2) there is a surplus and the liquidation is thereafter conducted upon the basis that such insurer is solvent. (b) Where an insurer has been so adjudicated to be insolvent any person who has a cause of action against an insured of such insurer under a liability insurance policy issued by such insurer shall have the right to file a claim in the liquidation proceeding, regardless of the fact that such claim may be contingent, and such claim may be allowed— (1) if it may be reasonably inferred from the proof presented upon such claim that such person would be able to obtain a judgment upon such cause of action against such insured; (2) if such person shall furnish suitable proof, unless the court for good cause shown shall otherwise direct, that no further valid claims against such insurer arising out of his cause of action other than those already presented can be made; and (3) if the total liability of such insurer to all claimants arising out of the same act of its insured shall be no greater than its maximum liability would be were it not in liquidation. (c) No judgment against such an insured taken after the date of the entry of the liquidation order shall be considered in the liquidation proceedings as evidence of liability, or of the amount of damages, and no judgment against an insured taken by default, inquest or by collusion prior to the entry of the liquidation order shall be considered as conclusive evidence in the liquidation proceeding either of the liability of such insured to such person upon such cause of action or of the amount of damages to which such person is therein entitled. (d) No claim of any secured claimant shall be allowed at a sum greater than the difference between the value of the claim without security and the value of the security itself as of the date of the entry of the order of liquidation or such other date set by the court for fixation of rights and liabilities as provided in section 1275 of this title unless the claimant shall surrender his security to the Commissioner in which event the claim shall be allowed in the full amount for which it is valued.
V.I. Code tit. 22, § 1280 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1280. Time to file claims

 (a) If upon the granting of an order of liquidation under this chapter or at any time thereafter during the liquidation proceeding, the insurer shall not be clearly solvent, the court shall after such notice and hearing as it deems proper, make an order declaring the insurer to be insolvent. Thereupon, regardless of any prior notice which may have been given to creditors, the Commissioner shall notify all persons who may have claims against such insurer and who have not filed proper proofs thereof, to present the same to him, at a place specified in such notice, within four months from the date of the entry of such order, or if the Commissioner shall certify that it is necessary, within such longer time as the court shall prescribe. The last day for the filing of proofs of claim shall be specified in the notice. Such notice shall be given in a manner determined by the court. (b) Proofs of claim may be filed subsequent to the date specified, but no such claim shall share in the distribution of the assets until all allowed claims, proofs of which have been filed before said date, have been paid in full with interest.
V.I. Code tit. 22, § 1281 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1281. Report for assessment

 Within three years from the date an order of rehabilitation or liquidation of a domestic mutual insurer was filed in the office of the clerk of the court by which such order was made, the Commissioner may make a report to the court setting forth— (1) the reasonable value of the assets of the insurer; (2) the insurer's probable liabilities; and (3) the probable necessary assessment, if any, to pay all claims and expenses in full, including expenses of administration.
V.I. Code tit. 22, § 1282 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1282. Levy of assessment

 (a) Upon the basis of the report provided for in section 1281 of this title, including any amendment thereof, the court, ex parte, may levy one or more assessments against all members of such insurer who, as shown by the records of the insurer, were members (if a mutual insurer) at any time within one year prior to the date of issuance of the order to show cause under section 1269 of this title. (b) Such assessment or assessments shall cover the excess of the probable liabilities over the reasonable value of the assets, together with the estimated cost of collection and percentage of uncollectibility thereof. The total of all assessments against any member with respect to any policy, whether levied pursuant to this chapter or pursuant to any other provisions of this title, shall be for no greater amount than that specified in the policy or policies of the member and as limited under this title; except that if the court finds that the policy was issued at a rate of premium below the minimum rate lawfully permitted for the risk insured, the court may determine the upper limit of such assessment upon the basis of such minimum rate. (c) No assessment shall be levied against any member with respect to any nonassessable policy issued in accordance with this title.
V.I. Code tit. 22, § 1283 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1283. Order for payment of assessment

 After levy of assessment as provided in section 1282 of this title, upon the filing of a further detailed report by the Commissioner, the court shall issue an order directing each member (if a mutual insurer) if he shall not pay the amount assessed against him to the Commissioner on or before a day to be specified in the order, to show cause why he should not be held liable to pay such assessment together with costs as set forth in section 1285 of this title, and why the Commissioner should not have judgment therefor.
V.I. Code tit. 22, § 1284 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1284. Publication, transmittal of assessment order

 The Commissioner shall cause a notice of such assessment order setting forth a brief summary of the contents of such order to be— (1) published in such manner as shall be directed by the court; and (2) enclosed in a sealed envelope, addressed and mailed postage prepaid to each member liable thereunder at his last known address as it appears on the records of the insurer, at least 20 days before the return day of the order to show cause provided for in section 1283 of this title.
V.I. Code tit. 22, § 1285 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 51 - Mergers, Rehabilitation, Liquidation|§ 1285. Judgment upon the assessment

 (a) On the return day of the order to show cause provided for in section 1283 of this title if the member does not appear and serve verified objections upon the Commissioner, the court shall make an order adjudging that such member is liable for the amount of the assessment against him together with $10 costs, and that the Commissioner may have judgment against the member therefor. (b) If on such return day the member shall appear and serve verified objections upon the Commissioner there shall be a full hearing before the court or a referee to hear and determine, who, after such hearing, shall make an order either negativing the liability of the member to pay the assessment or affirming his liability to pay the whole or some part thereof together with $25 costs and the necessary disbursements incurred at such hearing, and directing the Commissioner in the latter case may have judgment therefor. (c) A judgment upon any such order shall have the same force and effect, and may be entered and docketed, and may be appealed from as if it were a judgment in an original action brought in the court in which the proceeding is pending.