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(a) All property of the University, including funds, shall be exempt from judicial process of every kind, including, without limitation, attachment, levy, execution and sale by virtue of an execution, and no judgment shall be a lien or charge upon its property or funds; provided, that the provisions of this subsection shall not apply to or limit the right of obligees of the University to foreclose or otherwise enforce any mortgage or other security of the University or to pursue any remedies for the enforcement of any lien or pledge given by the University upon its revenues, or to the right of the Federal Government to pursue any rights conferred upon it by Federal law, any contract, or the provisions of this chapter or chapter 35 of this title.
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(b) The property of the University acquired or held for its corporate purposes is declared to be public property used for essential public and governmental purposes, and such property, and the University, are exempt from all taxes and special assessments of the Virgin Islands or of any taxing authority or body therein.
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(c) No judgment may be rendered against the University in excess of $75,000 in any suit or action against the University with respect to any injury to or loss of property or personal injury or death that:
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(1) is caused by the negligent or wrongful act or omission of an employee of the University while acting within the scope of the employee’s employment under circumstances where the University, if a private person, would be liable to the claimant in accordance with the law of the place where the act or omission occurred; or
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(2) occurs in connection with the use of the University’s facilities.
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(d) Paragraphs (1) and (2) of subsection (c) do not apply if the injury, loss of property or death is caused by the gross negligence of an employee of the University while the employee is acting within the scope of employment.