reglab/housing_qa huggingface dataset:
V.I. Code tit. 22, § 1490 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 58 - Commercial Self-Insurance Fund|§ 1490. Forms: Filing and approval

 (a) No basic insurance policy or application form where written application is required and is to be a part of the policy or contract, or printed rider or endorsement form, shall be issued by a commercial self-insurance fund unless the form has been filed with and approved by the Commissioner. (b) Every such filing shall be made not less than thirty days in advance of any such use or delivery. At the expiration of such thirty days, the form so filed shall be deemed approved unless prior thereto it has been affirmatively approved or disapproved by order of the Commissioner. The Commissioner may extend, by not more than an additional fifteen days, the period within which he may so affirmatively approve or disapprove any such form, by giving notice of the extension before expiration of the initial thirty day period. At the expiration of the period so extended, and in the absence of any prior affirmative approval or disapproval, such form shall be deemed approved. (c) The Commissioner shall disapprove any form or withdraw any previous approval thereof only if the form: (1) Is in any respect in violation of, or does not comply with, this code. (2) Contains or incorporates by reference, when such incorporation is otherwise permissible, any inconsistent, ambiguous, or misleading clauses, or any exceptions and conditions which deceptively affect the risk purported to be assumed in the general coverage of the contract. (3) Has any title, heading, or other indication of its provisions which is misleading. (4) Is printed or otherwise reproduced in such manner as to render any material provision of such form substantially illegible.
V.I. Code tit. 22, § 1491 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 58 - Commercial Self-Insurance Fund|§ 1491. Rates

 (a) With respect to all classes of insurance which a commercial self-insurance fund shall underwrite, the rates shall not be excessive, inadequate, or unfairly discriminatory. (b) A rate shall be held to be excessive if the expense factors associated with the rate are not justified or are not reasonable for the benefits and services provided. (c) Rates shall be deemed inadequate if they are clearly insufficient, together with the investment income attributable to them, to sustain projected losses and expenses in the class of business to which they apply. (d) A rate shall be deemed inadequate as to the premium charged to a risk or group of risks if discounts or credits are allowed which exceed a reasonable reflection of expense savings and reasonably expected loss experience from the risk or group of risks. (e) If the Commissioner determines that the continued use of a rate for a coverage endangers the solvency of the fund, he may issue an order requiring the rate to be increased or requiring the fund to limit or cease writing the coverage. (f) Nothing herein shall be construed to prohibit the Commissioner from examining a fund. (g) A commercial self-insurance fund shall be required to file its rates, including credits and surcharge schedules, with the Commissioner for approval pursuant to the standards of this section and the procedures of section 1490, subsection (b) of this chapter. (h) Any commercial self-insurance fund may subscribe to, or be a member of, a rating organization. A rating organization shall not discriminate against a commercial self-insurance fund as to conditions of subscription or membership.
V.I. Code tit. 22, § 1492 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 58 - Commercial Self-Insurance Fund|§ 1492. Service of process

 A commercial self-insurance fund shall register with and designate the Insurance Commissioner as its agent solely for the purpose of receiving service of legal documents or process.
V.I. Code tit. 22, § 1493 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 58 - Commercial Self-Insurance Fund|§ 1493. Examinations

 Commercial self-insurance funds licensed under this chapter shall be subject to periodic examination by the Commissioner in the same manner and subject to the same terms and conditions applicable to insurers as set forth in chapter 5 of this title.
V.I. Code tit. 22, § 1494 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 58 - Commercial Self-Insurance Fund|§ 1494. Fees and taxes

 Commercial self-insurance funds are subject to the fees and taxes set forth in chapter 25 of this title, except that the premium tax rate shall be one percent (1%) of the gross premiums collected by such self-insurance funds.
V.I. Code tit. 22, § 1500 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 59 - Virgin Islands Windstorm and Earthquake Insurance Authority|§ 1500. Definitions

 As used in this chapter, unless the context clearly requires otherwise: (a) “Authority” means the Virgin Islands Windstorm and Earthquake Insurance Authority created by this chapter; (b) “Board” means the Board of Directors of the Authority or the Interim Board of Directors, as the case may be; (c) “Covered event” means a windstorm or earthquake that directly or indirectly causes damage in the Territory of the Virgin Islands; (d) “Earthquake” means any shaking or trembling of the crust of the earth, caused by forces operating within the earth itself, such as underground volcanic forces, or by breaking and shifting of rock beneath the surface and not to mere superficial effects of external forces, such as erosion by run-off rainwater. (e) “Earthquake insurance” means a policy issued by the Authority insuring only against damage to eligible property caused by a covered event. (f) “Eligible property” means certain property located within the Territory which is determined by the Authority to be insurable in accordance with the Plan of Operation and which is used for residential purposes; (g) “Insurance Commissioner” means the same person as that intended by section 51 of chapter 3 of this title; (h) “Plan of Operation” means the written plan for providing windstorm and earthquake property insurance, and any amendments thereto, as required to be adopted by this chapter; (i) “Property insurance” means the same as is defined in section 454 of chapter 19 of this title; (j) “Servicing facility” means any person, agent, or insurer authorized to write windstorm and earthquake property insurance on behalf of the Authority; (k) “Windstorm” means tropical storms and hurricanes, as designated by the National Hurricane Center, with sufficient wind velocity to cause property damage in the Territory of the Virgin Islands. (l) “Windstorm property insurance” means a policy issued by the Authority insuring only against damage to eligible property caused by a covered event.
V.I. Code tit. 22, § 1501 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 59 - Virgin Islands Windstorm and Earthquake Insurance Authority|§ 1501. Virgin Islands Windstorm and Earthquake Insurance Authority, established

 There is hereby created a body corporate and politic constituting a public corporation and autonomous governmental instrumentality of the Government of the Virgin Islands, by the name of the “Virgin Islands Windstorm and Earthquake Insurance Authority”. The Authority shall be subject to the control of a Board, as provided in this chapter, but it is a corporation having legal existence and personality separate and apart from the Government. The debts, obligations, contracts, bonds, receipts, expenditures, accounts, funds, facilities and property of the Authority shall be deemed to be those of the Authority and not to be those of the Government of the Virgin Islands, or any office, bureau, department, agency, commission, branch, agent, office or employee thereof. The Authority is deemed a domestic insurer for all purposes of the Insurance Code of the Virgin Islands.
V.I. Code tit. 22, § 1503 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 59 - Virgin Islands Windstorm and Earthquake Insurance Authority|§ 1503. Board of Directors

 (a)  (1) The Authority shall be governed by a Board of Directors consisting of seven persons: the Commissioner of Finance and the Director of the Office of Management and Budget (who shall both serve ex officio), and five other persons appointed by the Governor with the advice and consent of the Legislature. Of the five appointed members: two shall be knowledgeable by education and training of insurance and the insurance industry, one shall be representative of the consumer/insured, and not more than three may be resident of any one island district. (2) A majority of the members shall constitute a quorum of the Board of Directors for the purpose of conducting the business of the Authority and exercising its powers, and for all other purposes notwithstanding the existence of any vacancies, except that a lesser number may adjourn. Unless the Authority in its bylaws requires a greater proportion of any instance, a vote of the majority of members present at any meeting of the Board shall prevail. The Board shall elect its own chairman and such other officers as it may deem appropriate. (3) Members of the Board shall serve terms of four years from the date of their appointment, but may continue to serve until the appointment of their successor. Members who are not employees of the Government of the Virgin Islands shall receive $50 per day or part thereof spent in the business of the Authority. All members shall be entitled to official travel costs and expenses actually and necessarily incurred in the discharge of their official duties. (4) Members of the Board, while acting within the scope of their authority as directors or officers, shall not be subject to any personal or civil liability resulting from the exercise of any of the Authority's purposes, duties or responsibilities, unless the conduct of the member is determined by a court of competent jurisdiction to constitute willful wrongdoing or gross negligence. (b) From the date of enactment of the Act creating the Authority until the confirmation and appointment of not less than three of the five appointed members of the Board of Directors, the Authority shall be governed by an Interim Board consisting of three persons: the Commissioner of Finance, the Director of the Office of Management and Budget, and the Director of the Bureau of Internal Revenue. The Interim Board shall have all of the powers and duties of the Board of Directors established by subsection (a) of this section, and shall fully govern the Authority pending confirmation and appointment of not less than three of the five appointed members. It is hereby expressly declared that time is of the essence and that the creation of an Interim Board with full powers is necessary to provide for a fully operational Authority prior to the 1993 hurricane season.
V.I. Code tit. 22, § 1505 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 59 - Virgin Islands Windstorm and Earthquake Insurance Authority|§ 1505. Policy limitations and guarantees

 (a) No claim under a windstorm and earthquake property insurance policy issued by or on behalf of the Authority may exceed $400,000 increasing annually by an inflation index approved by the Board. (b) Every policy issued by or on behalf of the Authority shall have a minimum deductible of $2,000 or two percent of the sum insured of the claim, whichever is greater. (c) A policy issued by or on behalf of the Authority shall insure not less than 80% of the actual cash value of the eligible property or the limits available from the Authority, whichever is less, excluding the value of the land. (d) Nothing in this chapter, or in any other provision of law, shall be construed to prohibit any insurer from providing coverage for property damage caused by windstorm or earthquake for any property in the Virgin Islands, which coverage may be apart from, or in addition to, the windstorm and earthquake property insurance issued by the Authority. (e) Nothing in this chapter, or in any other provision of law, shall be construed as requiring any person or entity to purchase windstorm and earthquake property insurance from the Authority.
V.I. Code tit. 22, § 1506 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 59 - Virgin Islands Windstorm and Earthquake Insurance Authority|§ 1506. Appeals

 Any applicant, current or former policyholder, or other person or entity doing business with the Authority and who is affected by any decision of the Authority may appeal to the Insurance Commissioner in the manner, and by the method, provided for appeals in chapter 7 of this title.
V.I. Code tit. 22, § 1507 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 59 - Virgin Islands Windstorm and Earthquake Insurance Authority|§ 1507. Annual reports; periodic examinations

 (a) The Authority shall submit to the Governor and the Legislature annually, after the close of its fiscal year, a report of the business of the Authority for the preceding fiscal year and two sets of annual statements; one prepared in accordance with National Association of Insurance Commissioners' guidelines and the other prepared in accordance with Generally Accepted Accounting Principles. (b) The Board shall submit to the Insurance Commissioner each year, and not later than three months after the Authority's fiscal year-end, two sets of Annual Statements; one prepared in accordance with National Association of Insurance Commissioners' guidelines and the other prepared in accordance with Generally Accepted Accounting Principles. (c) The Insurance Commissioner may require other reports concerning risks insured by the Authority as the Insurance Commissioner deems appropriate. (d) For the purpose of ascertaining its condition or compliance with this chapter, the Insurance Commissioner, as often as the Insurance Commissioner deems advisable, but at least once every three years, shall examine the accounts, records, documents, and transactions of the Authority. The Authority shall pay all reasonably incurred expenses of the examination.
V.I. Code tit. 22, § 1510 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 59 - Virgin Islands Windstorm and Earthquake Insurance Authority|§ 1510. Authority exempt from certain taxes; participation in the V.I. Insurance Guaranty Association

 (a) The purpose for which the Authority is created, and the exercise of all powers and duties of the Authority, are a public purpose. The Authority is exempt from the payment of any taxes or assessments on any of the property acquired or to be acquired by it, or on its operations or activities, or on the income derived from any of its operations, or activities with the exception of premium taxes which it shall pay pursuant to section 603 of chapter 25 of this title. (b) The Authority shall participate in the Virgin Islands Insurance Guaranty Association, and is a “member insurer” as that term is used in chapter 10 of this title.
V.I. Code tit. 22, § 1511 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 59 - Virgin Islands Windstorm and Earthquake Insurance Authority|§ 1511. Sunset provision

 (a) The Authority shall be dissolved within six months after a finding by the Board, and ratification by the Legislature of the Virgin Islands, of one or more of the following, provided the requirements of subsection (b) of this section have been met: (1) federal legislation has been enacted that will supersede windstorm and earthquake property insurance as provided by the Authority; (2) insurance companies doing business in the Virgin Islands have sufficient capacity to cover windstorm and earthquake property insurance and are offering policies at reasonable rates; (3) a combination of paragraphs (1) and (2) of this section. (b) The Authority may not be dissolved unless all of the following conditions are met: (1) the Insurance Commissioner agrees that dissolution of the Authority is in the public interest and not violative of existing contracts between the Authority and other parties; and (2) the Insurance Commissioner has approved a plan of dissolution as proposed by the Authority; and (3) the policyholders of the Authority have a reasonable opportunity to obtain similar or better coverage from another entity at a competitive rate; and (4) there will be no interruption of coverage of the eligible property in the transition from the Authority to another entity; and (5) all of the rights and privileges of the bondholders have been met; and (6) all of the debts and obligations of the Authority have been or will be paid prior to the dissolution of the Authority; and (7) such other requirements as the Insurance Commissioner deems fair and equitable in the dissolution of the Authority; and (8) The Legislature of the Virgin Islands has ratified the decision of the Insurance Commissioner to dissolve the Authority.
V.I. Code tit. 22, § 1520 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 60 - Third Party Administrators|§ 1520. Short title

 This chapter maybe cited as “The Virgin Islands Third Party Administrators Act”.
V.I. Code tit. 22, § 1522 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 60 - Third Party Administrators|§ 1522. Licensing necessary

 It is unlawful for a person to act as a TPA in the Virgin Islands unless that person is licensed as a TPA under this chapter. This prohibition does not apply to a person while employed by, or when operating under contract with the TPA licensed under this chapter. Any entity doing business as a TPA in the Virgin Islands on the effective date of this chapter shall apply for a license not later than 30 days after the effective date of this chapter and may not act as, or hold himself out to be a TPA 90 days after the effective date of this chapter without being duly licensed as required under this chapter.
V.I. Code tit. 22, § 1523 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 60 - Third Party Administrators|§ 1523. Payment to a TPA

 If an insurer uses the services of a TPA, any premiums or charges for insurance paid to the TPA by or on behalf of the insured party, or any collateral furnished to the TPA by or on behalf of the insured party, is considered to have been received by the insurer, and the return of collateral or the payment of return premiums or claim payments forwarded by the insurer to the TPA is not considered paid to the insured party or claimant until the payments are received by the insured party or claimant. Nothing in this section limits any right of the insurer against the TPA resulting from the failure of the TPA to make payments to the insurer, insured parties or claimants.
V.I. Code tit. 22, § 1525 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 60 - Third Party Administrators|§ 1525. Approval of advertising

 A TPA who advertises on behalf of its client may use only advertising that has been approved in writing by the client in advance of its use and which conforms to the requirements of chapter 49 of this title. A TPA who mentions any current or former client in its advertising must obtain the client’s prior written consent.
V.I. Code tit. 22, § 1527 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 60 - Third Party Administrators|§ 1527. Collection of premium, fiduciary duties of TPA

 (a) All insurance charges, premiums, collateral, and loss reimbursements collected by a TPA on behalf of or for a payor, the return of premiums or collateral received from a payor, and any funds held by the TPA for the payment of claims, must be held by the TPA in a fiduciary capacity. The funds may not be used as general operating funds of the TPA and must be immediately remitted to the person entitled to them, or must be deposited promptly in a fiduciary account established and maintained by the TPA in a federally insured financial institution. This special fiduciary account must be known as a “Third Party Administrator Trust Fund Account” (TPATFA). The TPA shall render a periodic accounting to the payor detailing all transactions performed by the TPA pertaining to the business of the payor and the written agreement between the payor, and the TPA must include the specifications of this reporting. All TPATFA funds must be deposited and maintained in financial institutions that are located within the Virgin Islands and are subject to the jurisdiction of courts located within the Virgin Islands. (b) The TPA shall keep copies of all records of any TPATFA maintained or controlled by the TPA, and, upon request of a payor, shall furnish the payor with copies of the records pertaining to the deposits and withdrawals made on behalf of the payor. If funds deposited in a TPATFA have been collected on behalf of or for more than one payor or for the payment of claims associated with more than one policy, the TPA shall keep records clearly recording the deposits in and withdrawals from the account on behalf of each payor and relating to each policyholder. (c) The TPA may not pay any claim by withdrawals from a TPATFA in which premiums or charges are deposited. Withdrawals from a TPATFA must be made as provided in the written agreement between the TPA and the payor, and only for the following purposes: (1) remittance to a payor entitled to remittance; (2) deposit in an account maintained in the name of the payor; (3) transfer to and deposit in a CASA, with claims to be paid as provided in section 1528; (4) payment to a group policyholder for remittance to the payor entitled to such remittance; (5) payment to the TPA of its earned commissions, fees or charges as set forth in the written agreement between the TPA and the payor; (6) remittance of return premium to the person or persons entitled to such return premium; or (7) payment to other service providers as authorized by the payor.
V.I. Code tit. 22, § 1528 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 60 - Third Party Administrators|§ 1528. Payment of claims, fiduciary duties of TPA

 The TPA is the trustee for all money that is received to pay claims and claim adjustment expenses. All claim moneys must be deposited in a special fiduciary account in a financial institution that is located in the Virgin Islands. The special fiduciary account must be designated as a CASA. All claims paid by the TPA from funds collected on behalf of or for a payor must be paid only as authorized by the payor. Payments from an account maintained or controlled by the TPA for purposes including the payment of claims must be made only for the following purposes: (1) payment of valid claims; (2) payment of expenses associated with claims handled by the TPA or to other service providers approved by the payor; (3) remittance to the payor, or transfer to a successor TPA, as directed by the payor, for the purpose of paying claims and associated expenses; or (4) return of funds held as collateral or prepayment to the person entitled to those funds, upon a determination by the payor that those funds are no longer necessary to secure or facilitate the payment of claims and associated expenses.
V.I. Code tit. 22, § 1530 (2019)
2019 US Virgin Islands Code|Title 22 - Insurance|Chapter 60 - Third Party Administrators|§ 1530. Compensation to the TPA

 (a) It is unlawful for a TPA to enter into an agreement or understanding with a payor in which the effect is to make the amount of the TPA’s commissions, fees, or charges contingent upon savings effected in the payment of losses covered by the payor’s obligations. This subsection does not prohibit a TPA from receiving performance-based compensation for providing hospital or other auditing services, from providing managed care or related services, or from being compensated for subrogation expenses. (b) It is unlawful for a payor to enter into an agreement with a TPA in violation of this section. (c) This section does not prevent the compensation of a TPA from being based on premiums or charges collected or the number of claims paid or processed. (d) It is unlawful for a TPA to receive from a payor, covered individual or beneficiary under a plan any compensation or other payments, except as expressly set forth in the agreement between the administrator and the payor.