reglab/housing_qa huggingface dataset:
V.I. Code tit. 22, § 1633 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1633. Form and content of premium finance agreement

 (a) A premium finance agreement shall be in writing, dated, and signed by or on behalf of the insured and the printed portion shall be in at least 8-point type. (b) The premium finance agreement shall contain the entire agreement of the parties with respect to the insurance contract, the premiums for which are advanced or to be advanced under it, and: (1) At the top, the words “PREMIUM FINANCE AGREEMENT” in at least 10-point bold type; and (2) A notice in at least 8-point bold type, reading as follows: “NOTICE: (1) Do not sign this agreement before you read it or if it contains any blank space. (2) You are entitled to a completely filled-in copy of this agreement. (3) Under the law, you have the right to pay off in advance the full amount due and under certain conditions to obtain a partial refund of the service charge.” (c) A premium finance agreement shall: (1) Contain the name and place of business of the insurance agent negotiating the related insurance contract; the name and residence or place of business of the insured as specified by him; the name and place of the business of the premium finance company to which installment or other payments are to be made; a description of the insurance contract, the premiums for which are advanced or to be advanced under the agreement; and the amounts of the premiums for such insurance contract; and (2) Set forth the following items: (A) The total amount of the premiums; (B) The amount of the down payment; (C) The principal balance, which is the difference between the amounts of subparagraphs (A) and (B) of this paragraph; (D) The amount of the service charge; and (E) The balance, which is the sum of the amounts of subparagraphs (C) and (D) of this paragraph, payable by the insured; the number of installments required; the amount of each installment expressed in dollars; and the due date or period. The items need not be stated in the sequence or order set forth above; inapplicable items may be omitted; and additional items may be included to explain the computations made in determining the amount to be paid by the insured. (d) No premium finance agreement shall be signed by an insured when it contains any blank space to be filled in after it has been signed; however, if the insurance contract, the premiums for which are advanced or to be advanced under the agreement, has not been issued at the time of its signature by the insured and it so provides, the name of the authorized insurer by whom such insurance contract is issued, the policy number, and the due date of the first installment may be left blank and later inserted in the original of the agreement after it has been signed by the insured.
V.I. Code tit. 22, § 1634 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1634. Limitation on service and other charges

 (a) A premium finance company shall not charge, contract for, receive, or collect a service charge other than as permitted by this chapter. (b) A premium finance company may, in a premium finance agreement, contract for, charge, receive, and collect a service charge for financing the premiums under the agreement computed as provided in subsection (c) of this section. (c)  (1) The service charge provided for in this section shall be computed on the balance of the premiums due, after subtracting the down payment made by the insured in accordance with the premium finance agreement, from the effective date of the issuance of the insurance coverage for which the premiums are being advanced to and including the date when the final payment of the premium finance agreement is payable. (2) The service charge shall be a maximum of $15 per $100 per year plus an additional charge not exceeding $25, which additional charge need not be refunded upon prepayment. Such additional charge may be charged only once in a 12-month period for any one customer unless that customer's policy has been cancelled due to nonpayment within the immediately preceding 12-month period. However, any insured may prepay has premium finance agreement in full at any time before the due date of the final payment; and in such event the unearned service charge shall be refunded in accordance with the “Rule of 78”, or any other method at least as beneficial to the insured and approved by the Commissioner, and shall represent at least as great a proportion of the service charge, if any, as the sum of the periodic balances after the month in which prepayment is made bears to the sum of all periodic balances under the schedule of payments in the agreement. When the amount of the refund is less than $1, no refund need be made if the agreement so states. (3) Such service charge shall be inclusive of all charges incident to the premium finance agreement and for the extension of credit provided for therein. (4) Paragraphs (1) to (3) of this subsection apply if the premiums under only one insurance contract are advanced under a premium finance agreement; if premiums under more than one insurance contract are advanced or to be advanced under a premium finance agreement, the service charge shall be computed from the inception date of such insurance contracts, or from the due date of such premiums; however, not more than one minimum service charge shall apply to each premium finance agreement. (5) No insurance agent or premium finance company shall induce an insured to become obligated under more than one premium finance agreement for the purpose of obtaining more than one minimum service charge.
V.I. Code tit. 22, § 1635 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1635. Prohibited premium financing

 No premium finance company shall, in a premium finance agreement, provide for the cost of: (1) A membership in an automobile club. The term “automobile club” means a legal entity which, in consideration of dues, assessments, or periodic payments of money, promises its members or subscribers to assist them in matters relating to the ownership, operation, use, or maintenance of a motor vehicle; however, this definition of “automobile club” does not include persons, associations, or corporations which are organized and operated solely for the purpose of conducting, sponsoring, or sanctioning motor vehicle races, exhibitions, or contests upon racetracks, or upon racecourses established and marked as such for the duration of such particular events. (2) An accidental death and dismemberment policy sold in combination with a personal injury protection only policy. The Commissioner shall promulgate rules to assure disclosure, at the time of sale, of coverages financed with personal injury protection.
V.I. Code tit. 22, § 1636 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1636. Delinquency, collection, cancellation and check return charges; attorney's fees

 (a) A premium finance agreement may provide for the payment by the insured of a delinquency and collection charge on each installment in default for a period of not less than 5 days in an amount not to exceed $10 or 5 percent (5%) of the delinquent installment, whichever, is greater; provided that if the premium finance agreement is primarily for personal, family, or household purposes, the delinquency and collection charge shall not exceed $10. Only one such delinquency and collection charge may be collected on any such installment regardless of the period during which it remains in default. (b) A premium finance agreement may also provide for the payment of attorney's fees not exceeding 20 percent of the amount due and payable under the agreement if it is referred for collection to an attorney not a salaried employee of the premium finance company holding the agreement. (c) Notwithstanding the provisions of this section, a premium finance company shall not take, receive from, or charge an insured any cancellation charge or attorney's fees unless within 10 days after default in the payment of any installment of a premium finance agreement, the premium finance company has mailed a notice of the default to the insured at his address as shown on the agreement and to any insurance agent shown on the agreement and to any insurance agent named therein at his place of business, as shown, giving the insured at least 5 days within which to make the payment in default. (d) In the event that a payment is made to a premium finance company by check or draft and the instrument is returned because of insufficient funds to pay it, the premium finance company may, if the premium finance agreement so provides, impose a charge of $10.
V.I. Code tit. 22, § 1637 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1637. Restrictions on premium finance agreements

 No premium finance agreement or contract ancillary thereto shall contain any provision by which: (1) In the absence of default of the insured, the premium finance company holding the agreement may, arbitrarily and without reasonable cause, accelerate the maturity of any part or all of the amount owing thereunder; (2) A power of attorney is given to confer any authority to perform any act other than to request cancellation for nonpayment of premium; or (3) The insured relieves the insurance agent or the premium finance company holding the agreement from liability for any legal rights or remedies which the insured may otherwise have against the agent or company.
V.I. Code tit. 22, § 1638 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1638. Delivery of copy of premium finance agreement

 Before the due date of the first installment payable under a premium finance agreement, the premium finance company holding the agreement or the insurance agent shall deliver to the insured, or mail to him at his address as shown in the agreement, a copy thereof or, if the agreement contained any blank space when it was signed and such blank was subsequently filled in, in accordance with section 1633, subsection (c) of this title, a copy of the agreement as so filled in.
V.I. Code tit. 22, § 1639 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1639. Assignment of premium finance agreement

 (a) A premium finance company may purchase or otherwise acquire a premium finance agreement from another premium finance company with recourse against the other premium finance company on such terms and conditions as may be mutually agreed upon. (b) No filing of an assignment or notice to the insured shall be necessary as to the validity of the written assignment of a premium finance agreement as against creditors or subsequent purchasers, pledgees, or encumbrancers of the assignor. (c) Unless the insured has notice of an actual or intended assignment of a premium finance agreement, payment thereunder by him to the last known holder of the agreement shall be binding upon all subsequent holders or assignees.
V.I. Code tit. 22, § 1640 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1640. Statement of account; receipts

 (a) At any time after the execution of a premium finance agreement, but not later than 1 year after the last payment, the premium finance company holding the premium finance agreement shall, upon written request of the insured, give or mail to him a written statement of the dates and amounts of payments and the total amount, if any, unpaid. A statement shall be supplied once each year without charge; if any additional statement is requested, the premium finance company shall supply the statement at a charge not exceeding $5 for each additional statement so supplied. An insured shall be given a receipt for payment when made in cash. (b) After the payment of all sums for which an insured is obligated under a premium finance agreement, and upon his written demand, the premium finance company holding the agreement shall deliver, or mail to the insured at his last known address, such one or more good and sufficient instruments as may be necessary to acknowledge payment in full and to release all interest in or rights to the insurance contracts, the premiums for which were advanced or are to be advanced under the agreement.
V.I. Code tit. 22, § 1641 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1641. Extensions or deferrals

 A premium finance company may, upon agreement with the insured, extend the scheduled due date or defer the scheduled payment of all or any part of any installment or installments payable thereunder. The agreement for such extension or deferment must be in writing and signed by the parties. The premium finance company may charge and contract for the payment of an extension or deferral charge by the insured and collect and receive the same; but such charge may not exceed an amount equal to 1 percent (1%) per month simple interest on the amount of the installment or installments, or part thereof, extended or deferred for the period of extension or deferral or $1, whichever is the greater amount. The period shall not exceed the period from the date when the extended or deferred installment or installments, or part thereof, would have been payable in the absence of an extension or deferral, to the date when the installment or installments, or part thereof, are made payable under the agreement of extension or deferment.
V.I. Code tit. 22, § 1642 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1642. Cancellation of insurance contract upon default

 When a premium finance agreement contains a power of attorney or other authority enabling the premium finance company to cancel any insurance contract listed in the agreement, the insurance contract shall not be cancelled unless cancellation is in accordance with the following provisions: (1) Not less than 15 days written notice shall be mailed to each insured shown on the premium finance agreement of the intent of the premium finance company to cancel the insurance contract unless the defaulted installment payment is received within 15 days. (2) After expiration of such period, the premium finance company shall mail to the insurer a request for cancellation and the unpaid premium balance due under the premium finance agreement or contract, and shall mail a copy to the insured at his last known address as shown on the premium finance agreement. (3) Upon a receipt of a copy of the cancellation notice by the insurer or insurers, the insurance contract shall be cancelled with the same force and effect as if the notice of cancellation has been submitted by the insured himself, without requiring any further notice to the insured or the return of the insurance contract. (4) All statutory, regulatory, and contractual restrictions providing that the insured may not cancel his insurance contract unless he or the insurer first satisfies such restrictions by giving a prescribed notice to a governmental agency, the insurance carrier, a mortgagee, an individual, or a person designated to receive such notice for such governmental agency, insurance carrier, or individual shall apply when cancellation is effected under the provisions of this section. The insurer, in accordance with such prescribed notice when it is required to give such notice on behalf of itself or the insured, shall give notice to such governmental agency, person, mortgagee, or individual; and it shall determine and calculate the effective date of cancellation from the premium finance company. (5) Whenever an insurance contract is cancelled in accordance with this section, the insurer shall promptly return the unpaid balance due under the finance contract, up to the gross amount available upon the cancellation of the policy, to the premium finance company and any remaining unearned premium to the agent or the insured, or both, for the benefit of the insured or insureds.
V.I. Code tit. 22, § 1643 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 61 - Premium Finance Companies and Agreements|§ 1643. Fees

 The Commissioner shall collect in advance the following fees:(1) Annual license   (A) Issuance$250.00  (B) Renewal200.00(2) Investigation of Applicant100.00(3) Filing of Annual Report25.00(4) Filing of Forms25.00
V.I. Code tit. 22, § 1671 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 63 - Ambulance Service Contracts|§ 1671. Definitions

 (a) “Ambulance service association” or “association” means any person issuing ambulance service contracts as defined in this section, other than an authorized insurer. (b) “Ambulance service contract” or “preened [sic] ambulance service contract” means any contract or agreement whereby, for an agreed premium or specified consideration or indemnify the contract or agreement holder from any type of ambulance service on a preened [sic] basis. (c) “Commissioner” means the Commissioner of Insurance, his deputies, or the Division of Banking, Insurance and Financial Regulation, as appropriate. (d) “Insurance code” means the Virgin Islands Insurance Code. (e) “Insurer” means a corporation or association which is engaged as principal in the business of making contracts of insurance, but shall not include an insurance broker acting as a broker. (f) “Sales representative” means any person employed or otherwise retained by an insurer or ambulance service association for the purpose of selling or issuing ambulance service contracts.
V.I. Code tit. 22, § 1672 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 63 - Ambulance Service Contracts|§ 1672. Powers of Commissioner; regulations

 The Commissioner shall administer this Chapter; and to that end, may adopt, promulgate, and enforce regulations necessary and proper to effectuate any provisions of this chapter.
V.I. Code tit. 22, § 1673 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 63 - Ambulance Service Contracts|§ 1673. Applicability of other laws

 (a) Except as provided in this chapter, ambulance service associations shall be exempt from all other provisions of the Virgin Islands Insurance Code. (b) Any rehabilitation, liquidation, conservation, or dissolution of an ambulance service association insurer shall be conducted under the supervision of the Commissioner. The Commissioner shall have all the powers with respect to rehabilitation, liquidation, conservation, or dissolution of an ambulance service association that are granted to the Commissioner under the provisions of chapter 51 of this title.
V.I. Code tit. 22, § 1674 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 63 - Ambulance Service Contracts|§ 1674. Certificate of authority required

 (a) No person may receive, hold, control, or manage any funds tendered as payment on any ambulance service contract until such person has a subsisting certificate of authority issued by the Commissioner. The certificate of authority shall expire on December 31st succeeding its issuance; and annually thereafter, on or before December 31st, a renewal shall be issued under conditions herein set forth. (b) An insurer authorized to transact property or casualty insurance in the territory may transact an ambulance service contract business without qualification or authority subject to the applicable provisions of this chapter.
V.I. Code tit. 22, § 1675 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 63 - Ambulance Service Contracts|§ 1675. Certificate of authority; annual statement; renewal

 (a) An application to the Commissioner for a certificate of authority shall be accompanied by: (1) The deposit required by section 1677 of this title; (2) The ambulance service contracts proposed to be written; (3) The name and address of the place of business of the person offering to write the ambulance contracts; (4) Evidence of compliance with section 1676 of this title; (5) Biographical information relating to the officers and directors of the association; and (6) Such other information as may be considered by the Commissioner in order to meet the obligations under this chapter. (b) Annually on or before March 31st, the ambulance service association shall file a statement of its financial condition, transactions, and affairs as of the preceding December 31st as certified by a certified public accountant or public actuary. The statement shall contain a certification that the ambulance service association has sufficient reserves available to perform obligations under its contracts. (c) An insurer required to file statements under chapter 9 of this title may include therein any statement of business written under this chapter rather than complying with the provisions of subsections (a) and (b) of this section. (d) The annual fee payable to the Commissioner for the issuance of a certificate of authority shall be $250 payable on initial application and $200 annually thereafter not later than December 31st of each year for renewal. (e) When the required information has been submitted and the Commissioner determines that the ambulance service association is in compliance with this chapter, the Commissioner shall issue a certificate of authority or renewal thereof.
V.I. Code tit. 22, § 1676 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 63 - Ambulance Service Contracts|§ 1676. Capital funds required

 (a) Any person applying for a certificate of authority under section 1675 of this title shall possess unimpaired paid-in capital or paid-in capital stock, if a stock association, or unimpaired surplus, if a foreign mutual or foreign reciprocal association, or a net trust fund, if a business trust association, in an amount not less than $100,000 to be maintained in a financial institution within the Virgin Islands. (b) After issuance of a certificate of authority, an ambulance service association shall maintain unimpaired paid-in capital stock, if a stock association, or unimpaired surplus, if a foreign mutual or foreign reciprocal association, or a net trust fund, if a business trust association, in an amount not less than $75,000.
V.I. Code tit. 22, § 1678 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 63 - Ambulance Service Contracts|§ 1678. Levy upon deposit

 No judgment creditor or other claimant of an association shall have the right to levy upon any of the assets or securities held in the territory as a deposit under section 1677 of this title.