reglab/housing_qa huggingface dataset:
V.I. Code tit. 22, § 1013 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1013. Settlement

 There shall be a provision that when the policy becomes a claim by the death of the insured, settlement shall be made upon receipt of due proof of death or after a specified period not exceeding two months after receipt of such proof.
V.I. Code tit. 22, § 1014 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1014. Authority to alter policy

 There shall be a provision that no agent shall have the power or authority to waive, change or alter any of the terms or conditions of any policy; except that, at the option of the insurer, the terms or conditions may be changed by an endorsement signed by a duly authorized officer of the insurer.
V.I. Code tit. 22, § 1015 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1015. Beneficiary

 (a) Each such policy shall have a space on the front or back page of the policy for the name of the beneficiary designated with a reservation of the right to designate or change the beneficiary after the issuance of the policy. (b) The policy may also provide that no designation or change of beneficiary shall be binding on the insurer until endorsed on the policy by the insurer, and that the insurer may refuse to endorse the name of any proposed beneficiary who does not appear to the insurer to have an insurable interest in the life of the insured.
V.I. Code tit. 22, § 1016 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1016. Facility of payment clause

 Such a policy may also provide that if the beneficiary designated in the policy does not surrender the policy with due proof of death within the period stated in the policy, which shall not be less than 30 days after the death of the insured, or if the beneficiary is the estate of the insured or is a minor, or dies before the insured or is not legally competent to give a valid release, then the insurer may make payment thereunder to the executor or administrator of the insured, or to any of the insured's relatives by blood or legal adoption or connection by marriage, or to any person appearing to the insurer to be equitably entitled thereto by reason of having been named beneficiary, or by reason of having incurred expense for the maintenance, medical attention or burial of the insured. Such policy may also include a similar provision applicable to any other payment due under the policy.
V.I. Code tit. 22, § 1017 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1017. Payment of premiums direct

 In the case of weekly premium policies, there may be a provision that upon proper notice to the insurer while premiums on the policy are not in default beyond the grace period, of the intention to pay future premiums directly to the insurer at its home office or any office designated by the insurer for the purpose, the insurer will, at the end of each period of a year from the due date of the first premium so paid, for which period such premiums are so paid continuously without default beyond the grace period, refund a stated percentage of the premiums in an amount; which fairly represents the savings in collection expense.
V.I. Code tit. 22, § 1018 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1018. Conversion

 There may be a provision in the case of industrial policies granting to the insured, upon proper written request and upon presentation of evidence of insurability satisfactory to the insurer, the privilege of converting any industrial insurance policy to any form of life insurance with less frequent premium payments regularly issued by the insurer, in accordance with terms and conditions agreed upon with the insurer. The privilege of making such conversion need be granted only if the insurer's industrial policies on the life insured, in force as premium paying insurance and on which conversion is requested, grant benefits in event of death, exclusive of additional accidental death benefits and exclusive of any dividend additions, in an amount not less than the minimum amount of such insurance with less frequent premium payments issued by the insurer at the age of the insured on the plan of industrial or ordinary insurance desired.
V.I. Code tit. 22, § 1019 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1019. Title to be stated on face of policy

 There shall be a title on the face of each such policy briefly describing its form.
V.I. Code tit. 22, § 1020 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1020. Application to term and specified insurance

 Any of the provisions required by this chapter or any portion thereof which are not applicable to single premium or term policies or to policies issued or granted pursuant to nonforfeiture provisions, shall to that extent not be incorporated therein.
V.I. Code tit. 22, § 1021 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1021. Prohibited provisions

 No such policy shall contain— (1) a provision giving the insurer the right to declare the policy void because the insured has had any disease or ailment, whether specified or not, or because the insured has received institutional, hospital, medical or surgical treatment or attention, except a provision which gives the insurer the right to declare the policy void if the insured has, within two years prior to the issuance of the policy, received institutional, hospital, medical or surgical treatment or attention and if the insured or claimant under the policy fails to show that the condition occasioning such treatment or attention was not of a serious nature or was not material to the risk; or (2) a provision giving the insurer the right to declare the policy void because the insured had been rejected for insurance, unless such right be conditioned upon a showing by the insurer, that knowledge of such rejection would have led to a refusal by the insurer to make such contract.
V.I. Code tit. 22, § 1022 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 41 - Industrial Life Insurance|§ 1022. Limitation of liability

 The insurer may in any such policy limit its liability for the same causes and to the same extent as is provided in section 976 of this title for other life insurance contracts.
V.I. Code tit. 22, § 1031 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 42 - Actuarial Opinion and Memorandum|§ 1031. Applicability

 (a) This chapter applies to all life insurance companies and fraternal benefit societies doing business in this territory and to all life insurance companies and fraternal benefit societies that are authorized to reinsure life insurance, annuities or accident and health insurance business in this territory. (b) This chapter must be applied in a manner that allows the appointed actuary to use professional judgment in performing the asset analysis and developing the actuarial opinion and supporting memoranda, consistent with relevant actuarial standards of practice. However, the Commissioner may specify methods of actuarial analysis and actuarial assumptions when, in the Commissioner’s judgment, these specifications are necessary for an acceptable opinion to be rendered relative to the adequacy of reserves and related items. (c) This chapter is applicable to all annual statements filed with the office of the Commissioner after the effective date of this chapter. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with section 1035 and a memorandum in support thereof in accordance with section 1036, is required each year.
V.I. Code tit. 22, § 1032 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 42 - Actuarial Opinion and Memorandum|§ 1032. Definitions

 (1) “Actuarial Opinion” means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with section 1035 and with applicable Actuarial Standards of Practice. (2) “Actuarial Standards Board” means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice. (3) “Annual statement” means that statement required by section 222 of this title which is required to be filed by the company with the office of the Commissioner annually. (4) “Appointed actuary” means an individual who is appointed or retained in accordance with the requirements set forth in section 1033(c) to provide the actuarial opinion and supporting memorandum as required by section 535 of the Standard Valuation Law of 2018. (5) “Asset adequacy analysis” means an analysis that meets the standards and other requirements referred to in section 1033(d). (6) “Commissioner” means the Commissioner of Insurance of the Virgin Islands. (7) “Company” means a life insurance company, fraternal benefit society or reinsurer subject to the provisions of this chapter. (8) “Qualified actuary” means an individual who meets the requirements set forth in section 1033(b) of this section.
V.I. Code tit. 22, § 1034 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 42 - Actuarial Opinion and Memorandum|§ 1034. Liabilities to be covered.

 (a) Under authority of section 535 of this title, the statement of actuarial opinion applies to all in-force business on the statement date, whether directly issued or assumed, regardless of when or where issued (e.g., reserves of Exhibits 5, 6 and 7), and claim liabilities in Exhibit 8, Part 1 and equivalent items in the separate account statement or statements. (b) If the appointed actuary determines as the result of asset adequacy analysis that a reserve should be held in addition to the aggregate reserve held by the company and calculated in accordance with methods set forth in the Standard Valuation Law of 2018, the company shall establish the additional reserve. (c) Additional reserves established under subsection (b) and deemed not necessary in subsequent years may be released. Any amounts released must be disclosed in the actuarial opinion for the applicable year. The release of such reserves may not be deemed an adoption of a lower standard of valuation.
V.I. Code tit. 22, § 1036 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 42 - Actuarial Opinion and Memorandum|§ 1036. Description of actuarial memorandum including an asset adequacy analysis and regulatory asset adequacy issues summary

 (a) In accordance with section 535 of this title, the appointed actuary shall prepare a memorandum to the company describing the analysis done in support of the appointed actuary’s opinion regarding the reserves. The memorandum must be made available for examination by the Commissioner upon the Commissioner’s request, but must be returned to the company after the examination and may not be considered a record of the Division of Banking, Insurance and Financial Regulation or subject to automatic filing with the Commissioner. (b) In preparing the memorandum, the appointed actuary may rely on, and include as a part of the appointed actuary’s own memorandum, memoranda prepared and signed by other actuaries who are qualified within the meaning of section 1033(b), with respect to the areas covered in such memoranda, and so state in their memoranda. (c) If the Commissioner requests a memorandum and no such memorandum exists or if the Commissioner finds that the analysis described in the memorandum fails to meet the standards of the Actuarial Standards Board or the standards and requirements of this chapter, the Commissioner may designate a qualified actuary to review the opinion and prepare the supporting memorandum as is required for review. The reasonable and necessary expense of the independent review must be paid by the company, but must be directed and controlled by the Commissioner. (d) The reviewing actuary shall have the same status as an examiner for purposes of obtaining data from the company and the work papers, and documentation of the reviewing actuary must be retained by the Commissioner. However, any information provided by the company to the reviewing actuary and included in the work papers must be considered as material provided by the company to the Commissioner and must be kept confidential to the same extent as is prescribed by law with respect to other material provided by the company to the Commissioner pursuant to the Standard Valuation Law under this title and any other applicable law governing the submission of these documents. The reviewing actuary may not be an employee of a consulting firm involved with the preparation of any prior memorandum or opinion for the insurer pursuant to this chapter for any one of the current years or the preceding three years. (e) In accordance with section 529 of this title, encoded at 22 V.I.C. chapter 21, subchapter II, the appointed actuary shall prepare a regulatory asset adequacy issues summary, the contents of which are specified in section 1033(d). The regulatory asset adequacy issues summary must be submitted no later than March 15 of the year following the year for which a statement of actuarial opinion based on asset adequacy is required. The regulatory asset adequacy issues summary must be kept confidential to the same extent and under the same conditions as the actuarial memorandum.
V.I. Code tit. 22, § 1060 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 44 - Portable Electronics Insurance|§ 1060. Definitions

 For purpose of this section, the following terms have the following meanings: (a) “Commissioner” shall have the following meaning ascribed to it in 22 V.I.C., section 51; (b) “Customer” means a person who purchases portable electronics or services; (c) “Enrolled Customer” means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics; (d) “Location” means any physical location in this Territory or any website, call center site, or similar location directed to residents of this Territory; (e) “Portable Electronics” means electronic devices that are portable in nature and their accessories; (f)  (1) “Portable Electronics Insurance” means insurance providing coverage for the repair or replacement of portable electronics which may provide coverage for portable electronics against any one or more of the following causes of loss, loss, theft, inoperability due to mechanical failure, malfunction, damage or other similar causes of loss. Portable electronics Insurance also includes any agreement whereby a person or any legal entity, in exchange for consideration paid, agrees to provide for the future repair, replacement or provision of portable electronics. (2) “Portable Electronics Insurance” does not include: (A) a service contract or extended warranty providing coverage limited to the repair, replacement or maintenance of property for the operational or structural failure of property due to a defect in materials, workmanship, accidental damage from handling, power surges, or normal wear and tear; (B) a policy of insurance covering a seller’s or a manufacture’s obligations under a warranty; or (C) a homeowner’s renter’s, private passenger automobile, commercial multi-peril, or similar policy. (g) “Portable Electronic Transactions’” means: (1) the sale or lease of portable electronics by a vendor to a customer; or (2) the sale of a service related to the use of portable electronics by a vendor to a customer. (h) “Supervising Entity” means a business entity that is a licensed insurer or insurance producer that is appointed by an insurer to supervise the administration of a portable electronics insurance program; (i) “Vendor” means a person in the business of engaging in portable electronic transactions directly or indirectly.
V.I. Code tit. 22, § 1061 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 44 - Portable Electronics Insurance|§ 1061. Licensure of vendors

 (a) A vendor is required to hold a limited lines license to sell or offer coverage under a policy of portable electronics insurance. (b) A limited lines licenses issued under this subdivision shall authorize any employee or authorized representative of the vendor to sell or offer coverage under a policy of portable electronics insurance to a customer at each location which the vendor engages in portable electronic transactions. (c) The supervising entity shall maintain a registry of vendor locations which are authorized to sell or solicit portable electronics insurance coverage in this territory. Upon request by the director and with ten days notice to the supervising entity, the registry shall be open to inspection and examination by the Commissioner during regular business hours of the supervising entity. (d) Notwithstanding any other provisions of law, a license issued pursuant to this section shall authorize the licensee and its employees or authorized representatives to engage only in those activities that are permitted in this section.
V.I. Code tit. 22, § 1062 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 44 - Portable Electronics Insurance|§ 1062. Requirements for sale of portable electronics insurance

 (a) At every location where portable electronics insurance is offered to customers, brochures or other written materials must be made available to a prospective customer which: (1) disclose that the portable electronics insurance may provide a duplication of coverage already provided by a customer’s homeowner’s insurance policy, renter’s insurance policy or other source of coverage; (2) state that the enrollment by the customer in a portable electronics insurance program is not required in order to purchase or lease portable electronics or services; (3) summarize the material terms of the insurance coverage, including: (A) the identity of the insurer; (B) the identity of the supervising entity; (C) the amount of any applicable deductible and how it is to be paid; (D) benefits of the coverage; and (E) key terms and conditions of coverage such as whether portable electronics may be repaired or replaced with similar make and model reconditioned or non-original manufacture parts or equipment. (4) summarize the process for filing a claim, including a description of how to return portable electronics and the maximum fee applicable in the event the customer fails to comply with any equipment return requirements. (5) state that an enrolled customer may cancel enrollment for coverage under a portable electronics insurance policy at any time and the person paying the premium shall receive a refund of any applicable unearned premium. (b) The written materials required by this section shall not be subject to filing or approval requirements with the Commissioner. (c) Portable electronics insurance may be offered on a month to month or other periodic basis as a group or master commercial inland marine policy issued to a vendor of portable electronics for its enrolled customers. (d) Eligibility and underwriting standards for customers electing to enroll in coverage shall be established for each portable electronics insurance program.
V.I. Code tit. 22, § 1064 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 44 - Portable Electronics Insurance|§ 1064. Suspension or revocation of license

 (a) If a vendor of portable electronics or its employee or authorized representative violates any provision of this section, the Commissioner may do any of the following: (b) After notice and hearing, impose fines not to exceed $500 per violation or $5,000 in the aggregate for such conduct. (c) After notice and hearing, impose other penalties that the Commissioner deems necessary and reasonable to carry out the purpose of this article, including: (1) Suspending the privilege of transacting portable electronics insurance pursuant to this section at specific business locations where violations have occurred; and (2) Suspending or revoking the ability of individual employees or authorized representatives to act under the license.
V.I. Code tit. 22, § 1066 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 44 - Portable Electronics Insurance|§ 1066. Application for license and fees

 (a) A sworn application for license under the chapter shall be made to and be filed with the Commissioner on forms prescribed and furnished by the Commissioner. (b) The application shall: (1) Provide the name, residence address, and other information required by the Commissioner for an employee or officer of the vendor that is designated by the applicant as the person responsible for the vendor’s compliance with the requirements of this chapter, including implementation of the training program provided for herein. However, if the vendor derives more than 50% of its revenue from the sale of portable electronics insurance the information noted above shall be provided for all officers, directors, and shareholder of record having beneficial ownership of 10% or more of any class of securities registered under the Federal Securities Law or as may be otherwise required under 9 V.I.C., section 601 et seq.; and (2) Identify the location of the applicant’s home office. (c) Any vendor engaging in portable electronics insurance transactions on or before the effective date of this chapter must apply for licensure within ninety (90) days of the application is being made available by the Commissioner. Any applicant commencing operations after the effective date of this chapter must obtain a license prior to offering portable electronics insurance. (d) Initial licenses issued pursuant to this chapter shall expire on December 31st following its date. Licenses shall be renewed annually on application of the licensee unless he has failed to comply with this title. (e) Each vendor of portable electronics licensed under this chapter shall pay to the Commissioner a fee as prescribed by the Commissioner, but in no event shall the fee exceed $1,000 for an initial portable electronics limited lines license and $500 for each renewal thereof.
V.I. Code tit. 22, § 1101 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 45 - Surety Insurance|§ 1101. Requirements deemed met by surety insurer

 Whenever by law or by rule of any court, public official, or public body, any surety bond, recognizance, obligation, stipulation or undertaking is required or is permitted to be given, any such bond, recognizance, obligation, stipulation, or undertaking which is otherwise proper and the conditions of which are guaranteed by an authorized surety insurer, or by an unauthorized surety insurer as a surplus line pursuant to chapter 27 of this title, shall be approved and accepted and shall be deemed to fulfill all requirements as to number of sureties, residence or status of sureties, and other similar requirements, and no justification by such surety shall be necessary.
V.I. Code tit. 22, § 1102 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 45 - Surety Insurance|§ 1102. Fiduciary bonds, premium as lawful expense

 Any fiduciary required by law to give bonds, may include a part of his lawful expense to be allowed by the court or official by whom he was appointed, the reasonable amount paid as premium for such bonds to the authorized surety insurer or to the surplus line surety insurer which issued or guaranteed such bonds.
V.I. Code tit. 22, § 1103 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 45 - Surety Insurance|§ 1103. Judicial bonds, premium as part of recoverable costs

 In any proceeding the party entitled to recover costs may include therein such reasonable sum as was paid to such surety insurer as premium for any bond or undertaking required therein, and as may be allowed by the court having jurisdiction of such proceeding.