§ 437. Statute of limitations
(a) An action or proceeding brought pursuant to section 343(a), (b), or (c) must be commenced within four years after the conduct that is the basis of the Lieutenant Governor’s complaint. (b) An action brought pursuant to §435 must be commenced within two years after the latest of: (1) the individual’s last transmission of money […]
§ 438. Uniformity of application and construction
In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
§ 439. Relation to Electronic Signatures in Global and National Commerce Act
This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act (15 U.S.C. Section 7001 et seq.) but does not modify, limit, or supersede Section 101(c) of that act (15 U.S.C. Section 7001(c)) or authorize electronic delivery of any of the notices described in Section 103(b) of that act (15 […]
§ 440. Transitional provisions; application to existing transactions
Transactions entered into before this chapter takes effect and the rights, duties, and interests resulting from them may be completed, terminated, or enforced as required or permitted by a law amended, repealed, or modified by this chapter as though the amendment, repeal, or modification had not occurred.
§ 441. Severability
If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter that can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.
§ 428. Prohibited acts and practices
(a) A provider may not, directly or indirectly: (1) misappropriate or misapply money held in trust; (2) settle a debt on behalf of an individual for more than 50 percent of the principal amount of the debt owed a creditor, unless the individual assents to the settlement after the creditor has assented; (3) take a […]
§ 429. Notice of litigation
No later than 30 days after a provider has been served with notice of a civil action for violation of this chapter by or on behalf of an individual who resides in the Virgin Islands at either the time of an agreement or the time the notice is served, the provider shall notify the Lieutenant […]
§ 430. Advertising
(a) If the agreements of a provider contemplate that creditors will reduce finance charges or fees for late payment, default, or delinquency and the provider advertises debt-management services, the provider shall disclose, in an easily comprehensible manner, that using a debt-management plan, may make it harder for the individual to obtain credit. (b) If the […]
§ 431. Liability for the conduct of other persons
If a provider delegates any of its duties or obligations under an agreement or this chapter to another person, including an independent contractor, the provider is liable for conduct of the person which, if done by the provider, would violate the agreement or this chapter.
§ 432. Powers of the Lieutenant Governor
(a) The Lieutenant Governor may act on his own initiative or in response to complaints and may receive complaints, take action to obtain voluntary compliance with this chapter, refer cases to the Attorney General, and seek or provide remedies as provided in this chapter. (b) The Lieutenant Governor may investigate and examine, in the Virgin […]