reglab/housing_qa huggingface dataset:
V.I. Code tit. 13, § 579 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 579. Purchase of business of another; payment in shares or memberships; approval by shareholders

 When a cooperative corporation purchases the business of any other association, corporation, or person, it may pay for the purchase wholly or partly by the issue of shares of its capital stock or memberships to an amount which at par value would equal the fair market value of the business purchased, or wholly or partly in goods and services equal to the fair market value of the business purchased, or by any combination of shares, memberships, goods, and services to that amount. No such purchase shall be made until the proposal therefor has been submitted by the directors to a meeting of the shareholders duly convened, with notice of the proposed action, and with an itemized statement of assets and liabilities of the business proposed to be purchased which shall include the value of the goodwill, patents, and other intangible assets as a separate item, and the proposal has been ratified by a majority vote of the shareholders.
V.I. Code tit. 13, § 580 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 580. Purchase of own shares or memberships

 The corporation has the right to purchase, at book value as conclusively determined by the directors, any of its shares or memberships offered for transfer, or the stock or membership of any deceased shareholder.
V.I. Code tit. 13, § 581 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 581. Investment in shares or memberships of other corporations

 The corporation may, by a majority vote of the shareholders, invest not to exceed 25 percent of its capital, in the capital stock, shares, or memberships of any other corporation.
V.I. Code tit. 13, § 582 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 582. Reserve funds and dividends

 (a) The directors shall apportion any surplus-savings and earnings by first setting aside at least 10 percent thereof for a reserve fund until the reserve fund equals 30 percent of the paid-up shares, and thereafter the directors may continue to set aside 10 percent of the net surplus-savings for a reserve fund. The directors may then declare a dividend upon the paid-up shares at a yearly rate not to exceed 5 percent. No such dividend shall be cumulative. (b) The directors may then set aside such an amount of the remaining surplus-savings or earnings as may be provided in the bylaws as an educational fund to be used in teaching cooperation. (c) The directors may distribute all remaining surplus-savings or earnings uniformly to patrons of the corporation who are shareholders, and in the discretion of the corporation, they may also distribute uniform surplus-savings to patrons who are not shareholders, based in amount upon volume of business transacted with the corporation by such patrons. The rate of such distribution, and the ratio of savings returns to shareholders and nonshareholders shall be determined by resolution of the directors. However, surplus-savings or earnings shall not be distributed to nonshareholders patrons unless at least 50 percent of such amount is applied toward purchase of shares in the corporation. (d) Alternatively, the corporation may employ a part or all of such surplus-savings for its general welfare.
V.I. Code tit. 13, § 583 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 583. Application of general corporation law

 Any cooperative corporation or credit union organized or existing under this chapter may amend its articles of incorporation in the manner prescribed by the general corporation law; provided, that any such amendment shall be filed with and approved by the Director of the Consumer Services Administration.
V.I. Code tit. 13, § 584 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 584. Unauthorized use of cooperative in name

 Except as otherwise expressly provided in this chapter, no person, firm, individual, partnership, trust, domestic corporation, foreign corporation, or association shall adopt or use the word “cooperative” or any abbreviation or derivation thereof, or any word similar thereto, as part of the name or designation under which he does business in the United States Virgin Islands, nor conduct business or represent that business is conducted cooperatively, unless incorporated as provided in this chapter or under some other law of the United States Virgin Islands entitling him so to do; provided, however that the foregoing prohibition shall be inapplicable to any housing cooperative, the financing of which is insured or guaranteed by the United States of America, one of its instrumentalities, or agencies, and which is certified by the Commissioner of the Federal Housing Administration as consumer cooperative.
V.I. Code tit. 13, § 585 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 585. Foreign corporations; use of cooperative in name

 Any foreign corporation, organized under and complying with the cooperative law of the United States Virgin Islands or other jurisdiction of its creation, may use the term “cooperative” in the United States Virgin Islands if it has complied with the laws of the United States Virgin Islands applicable to foreign corporations, in so far as those laws are applicable to it, and if it is doing business on a cooperative basis, as defined in this chapter.
V.I. Code tit. 13, § 586 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 586. Unauthorized business

 It is unlawful for any corporation formed under this chapter to carry on business contrary to or outside of the purpose for which it is formed.
V.I. Code tit. 13, § 587 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 587. Injunction

 Any person, firm, partnership, trust, domestic corporation, foreign corporation, or association may be enjoined from violating the provisions of section 584 or section 586 of this chapter or form issuing, selling, offering for sale, negotiating, advertising or distributing stock, notes, bonds, certificates or evidences of indebtedness or other securities, issued by him or concerning his business or affairs in violation of this chapter, at the instance of any citizen or official agency of the United States Virgin Islands.
V.I. Code tit. 13, § 589 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 7 - Cooperative Corporations|§ 589. Penalties

 Any person, firm, partnership, trustee, association or corporation violating any of the provisions of this chapter is guilty of a misdemeanor, punishable by a fine not more than $500, or by imprisonment for not more than one year, or both such fine and imprisonment.
V.I. Code tit. 13, § 601 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 601. Societies for promotion of trade and labor; incorporation; articles, execution; body politic

 Any number of persons, not less than 5, may associate themselves together and become a body corporate and politic for the improvement of their several social and material interests, the regulation of their wages, the laws and conditions of their employment, the protection of their joint and individual rights in the prosecution of their trades or industrial avocations, the collection and payment of funds for the benefit of sick, disabled or unemployed members, the securing of benefits to the families of deceased members, and for such other and further objects of material benefit and protection as are germane to the purposes of this chapter. The persons so associating shall execute articles of association as hereinafter provided, sign and acknowledge the same before some officer duly authorized by the laws of the United States Virgin Islands to take acknowledgements of deeds, and upon the execution and acknowledgment of said articles of association aforesaid, the said association shall become a body politic for the purposes set forth in said articles of association.
V.I. Code tit. 13, § 602 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 602. Corporate name; powers

 Every association formed under the provisions of this chapter, shall have a corporate name, and may sue and be sued, plead and be impleaded, prosecute and defend in all courts of the United States Virgin Islands; shall hold, pay, sell, assign, convey, mortgage and lease such real, personal or mixed property as shall be required for its corporate purposes.
V.I. Code tit. 13, § 603 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 603. Articles; contents

 The articles of association shall state: First, The names of persons associating in the first instance with their places of residence; Second, The purposes of the association, conforming with the provisions of this chapter; Third, The corporate name and period of incorporation, which may be perpetual; Fourth, The terms, conditions, and qualifications of membership in the corporation; Fifth, The officers and committees created, with the names of officers and members of committees first selected, the terms of such officers and members, and the time of holding an annual meeting.
V.I. Code tit. 13, § 604 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 604. Bylaws; contents, enforcement

 Every association incorporated under this chapter shall have power to make all needful bylaws for its government and enforce the same by the usual penalties and forfeitures; may thereby establish a uniform system of dues, assessments or benefits to be levied upon members, prescribe the duties of officers, require bonds of the same for the faithful discharge of their duties.
V.I. Code tit. 13, § 605 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 605. Officers; executive committee

 The officers of the association shall consist of a president, secretary, treasurer, and executive committee of not less than 3 members of the association. The president, secretary, and treasurer shall be ex officio members of said executive committee.
V.I. Code tit. 13, § 606 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 606. Executive committee; powers, quorum

 The executive committee shall be charged with the general management of its affairs. Said committee shall adopt bylaws for the association, and change the same at pleasure: provided, that the bylaw for the election of the members of said committee and their terms of office shall be of no effect until the same is ratified by a majority vote of the members of the association. A majority of said committee shall be a quorum for the transaction of business.
V.I. Code tit. 13, § 607 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 607. Existing societies; incorporation under act

 All societies, unions or associations of tradesmen or laborers actually existing and conducting their affairs under a constitution or articles of association, may become a body corporate and politic, for the general purposes of this chapter, upon filing of copies of their constitution or articles of the association, society or union, verified by the oath of one of the executive officers of such society, association or union in the office of the Lieutenant Governor and in the division of the District Court where the principal office of such society, union or association is located. All societies, unions and associations, become corporations as above provided, shall be subject to the provisions of this chapter.
V.I. Code tit. 13, § 608 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 608. Same; constitution or articles in lieu of articles of incorporation

 The constitution or articles of association of the society, union or association referred to in the preceding section of this chapter when filed as therein provided, shall stand in lieu of the articles of incorporation required to be executed under this chapter and such constitution or articles of association may provide for the election of an executive committee and other officers required by this chapter, naming the officers to act as the first incumbents; provided, that nothing in this section contained shall be construed so as to legalize any provisions that may be contained in said constitution or articles of association, repugnant to the general laws of the United States Virgin Islands.
V.I. Code tit. 13, § 609 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 609. Rights vested in new corporation; recovery

 All moneys, properties, or rights in action, equitably belonging to any society, union or association at the time the same shall become incorporated under the provisions of this chapter, shall vest in the corporation so formed, and may be recovered by such corporation in an action of assumpsit, or on the case from any person unlawfully withholding the same.
V.I. Code tit. 13, § 610 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 9 - Societies to Promote Trade and Labor|§ 610. Validation of prior acts

 The taking, holding, assigning, conveying, leasing, mortgaging, transferring or otherwise dealing with the monies, properties, whether real, personal or mixed, or rights in action equitably belonging to any society, union or association which was done before the effective date of this chapter in accordance with the provisions of the Constitution or bylaws of the society, union or association at the time of the doing of the same is hereby declared to be a lawful act of such society, union or association.
V.I. Code tit. 13, § 701 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 10 - Incorporation of Professional Occupations|§ 701. Short title

 This chapter may be cited as the “Professional Service Corporations Act of the Virgin Islands”.
V.I. Code tit. 13, § 702 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 10 - Incorporation of Professional Occupations|§ 702. Definitions

 As used in this chapter: (1) Unless the context otherwise requires, the term “licensing authority” means the appropriate board or licensing agency established pursuant to Title 27 of the Virgin Islands Code for the purpose of examining and licensing all professions and occupations licensed under the said Title 27, and the District Court of the Virgin Islands in the case of the profession of law. (2) “Profession” includes any practice as an attorney and counselor at law, or as a licensed physician, and those occupations designated in Title 27 of the Virgin Islands Code. (3) “Professional service” means any type of service to the public which may be lawfully rendered by a member of a profession within the purview of his profession. (4) “Professional service corporation” means a corporation organized under this chapter. (5) “Officer” does not include the secretary or an assistant secretary of a corporation having only one shareholder.
V.I. Code tit. 13, § 703 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 10 - Incorporation of Professional Occupations|§ 703. Corporations organized under other provisions of law

 The provisions of this chapter shall not apply to corporations heretofore or hereafter duly organized under any other provisions of law.
V.I. Code tit. 13, § 704 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 10 - Incorporation of Professional Occupations|§ 704. Organization

 (a) Notwithstanding any other provision of law, one or more individuals duly authorized by law to render the same professional service within the United States Virgin Islands may organize, or cause to be organized, a professional service corporation for pecuniary profit under this chapter for the purpose of rendering the same professional service, except that one or more individuals duly authorized by law to practice professional engineering, architecture, landscape architecture or land surveying within the United States Virgin Islands may organize, or cause to be organized, a professional service corporation for pecuniary profit under this chapter for the purpose of rendering such professional services as such individuals are authorized to practice. (b) The certificate of incorporation of a professional service corporation shall meet the requirements of this chapter and (1) shall state the profession or professions to be practiced by such corporation and the names and residence addresses of all individuals who are to be the original shareholders, directors and officers of such corporation, and (2) shall have attached thereto a certificate or certificates issued by the appropriate licensing authority certifying that each of the proposed shareholders, directors and officers is authorized by law to practice a profession which the corporation is being organized to practice and, if applicable, that one or more of such individuals is authorized to practice each profession which the corporation will be authorized to practice. (c) A certified copy of the certificate of incorporation and of each amendment thereto shall be filed by the corporation with the licensing authority within thirty days after the filing of such certificate or amendment with the Office of the Lieutenant Governor. (d) A professional service corporation, other than a corporation authorized to practice law, shall be under the supervision of the appropriate licensing authority as set forth in Title 27 and be subject to disciplinary proceedings and penalties, and its certificate of incorporation shall be subject to suspension, revocation of annulment for cause, in the same manner and to the same extent as is provided with respect to individuals and their licenses, certificates, and registrations in Title 27 relating to the applicable profession. (e) A corporation authorized to practice law shall be subject to the regulation and control of, and its certificate of incorporation shall be subject to suspension, revocation or annulment for cause by the Supreme Court of the Virgin Islands in the same manner and to the same extent provided in the rules of the Supreme Court with respect to individual attorneys. (f) The order of suspension, revocation or annulment of the certificate of incorporation of a professional service corporation pursuant to subdivisions (d) and (e) of this section shall be effective upon the filing of such order with the Office of the Lieutenant Governor.
V.I. Code tit. 13, § 705 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 10 - Incorporation of Professional Occupations|§ 705. Rendering of professional service

 (a) No professional service corporation may render professional services except through individuals authorized by law to render such professional services as individuals. (b) Each final plan and report made or issued by a corporation practicing professional engineering, architecture, landscape architecture or land surveying shall bear the name and seal of one or more professional engineers, architects, landscape architects, or land surveyors respectively, who are in responsible charge of such plan or report. (c) Each report, diagnosis, prognosis, and prescription made or issued by a corporation practicing medicine, dentistry, podiatry, optometry, ophthalmic dispensing, veterinary medicine, osteopathy, pharmacy, nursing, or physiotherapy shall bear the signature of one or more physicians, dentists, podiatrists, optometrists, ophthalmic dispensers, veterinarians, osteopaths, pharmacists, nurses, or physiotherapists, respectively, who are in responsible charge of such report, diagnosis, prognosis, or prescription. (d) Each record, transcript, report and hearing report prepared by a corporation practicing certified shorthand reporting shall bear the signature of one or more certified shorthand reporters who are in responsible charge of such record, transcript, report, or hearing report. (e) Each report and statement prepared by a corporation practicing public accounting or certified public accounting shall bear the signature of one or more public accountants or certified public accountants respectively, who are in responsible charge of such report or statement. (f) Each opinion prepared by a corporation practicing law shall bear the signature of one or more attorneys who are in responsible charge of such opinion. (g) In addition to the requirements in subdivisions (b) through (f), inclusive, each document prepared by a corporation which under the rules, regulations, laws or customs of the applicable professions is required to bear the signature of an individual in responsible charge of such document, shall be signed by one or more such individuals.
V.I. Code tit. 13, § 706 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 10 - Incorporation of Professional Occupations|§ 706. Professional relationships and liabilities

 (a) Each shareholder, employee or agent of a professional service corporation shall be personally and fully liable and accountable for any negligent or wrongful act or misconduct committed by him or by any person under his direct supervision and control while rendering professional services on behalf of such corporation. (b) The relationship of an individual to a professional service corporation with which such individual is associated, whether as shareholder, director, officer, employee or agent, shall not modify or diminish the jurisdiction over him of the licensing authority and in the case of an attorney, the courts of the United States Virgin Islands.
V.I. Code tit. 13, § 707 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 10 - Incorporation of Professional Occupations|§ 707. Purposes of incorporation

 No professional service corporation shall engage in any business other than the rendering of the professional services for which it was incorporated; provided, that such corporation may invest its funds in real estate, mortgages, stocks, bonds or any other type of investments.
V.I. Code tit. 13, § 708 (2019)
2019 US Virgin Islands Code|Title 13 - Corporations and Associations|Chapter 10 - Incorporation of Professional Occupations|§ 708. Issuance of shares

 A professional service corporation may issue shares only to individuals who are authorized by law to practice in the United States Virgin Islands a profession which such corporation is authorized to practice and who are or have been engaged in the practice of such profession in such corporation of a predecessor entity, or who will engage in the practice of such profession in such corporation within thirty days of the date such shares are issued. No shareholder of a professional service corporation shall enter into a voting trust agreement, proxy, or any other type agreement vesting in another person, other than another shareholder of the same corporation or a person who would be eligible to become a shareholder if employed by the corporation, the authority to exercise voting power of any or all of his shares. All shares issued, agreements made, or proxies granted in violation of this section shall be void.