§ 422. Trust account
(a) All money paid to a provider by or on behalf of an individual for distribution to creditors pursuant to a plan is held in trust. Within two business days after receipt, the provider shall deposit the money in a trust account established for the benefit of individuals to whom the provider is furnishing debt-management […]
§ 423. Fees and other charges
(a) A provider may not impose directly or indirectly a fee or other charge on an individual or receive money from or on behalf of an individual for debt-management services except as permitted by this section. (b) A provider may not impose charges or receive payment for debt-management services until the provider and the individual […]
§ 424. Voluntary contributions
A provider may not solicit a voluntary contribution from an individual or an affiliate of the individual for any service provided to the individual. A provider may accept voluntary contributions from an individual but, until 30 days after completion or termination of a plan, the aggregate amount of money received from or on behalf of […]
§ 425. Voidable agreements
(a) If a provider imposes a fee or other charge or receives money or other payments not authorized by section 423 or 24, the individual may void the agreement and recover as provided in section 435. (b) If a provider is not registered as required by this chapter when an individual assents to an agreement, […]
§ 426. Termination of agreements
(a) If an individual who has entered into an agreement fails for 60 days to make payments required by the agreement, a provider may terminate the agreement. (b) If a provider or an individual terminates an agreement, the provider shall immediately return to the individual: (1) any money of the individual held in trust for […]
§ 411. Renewal of registration
(a) A provider must obtain a renewal of its registration annually. (b) An application for renewal of registration as a provider must be in a form prescribed by the Lieutenant Governor, signed under penalty of false statement, and: (1) be filed no fewer than 30 and no more than 60 days before the registration expires; […]
§ 412. Registration in another state
If a provider holds a license or certificate of registration in another state authorizing it to provide debt-management services, the provider may submit a copy of that license or certificate and the application for it instead of an application in the form prescribed by section 405(a), 406, or 411(b). The Lieutenant Governor shall accept the […]
§ 413. Bond required
(a) Except as otherwise provided in section 414, a provider that is required to be registered under this chapter shall file a surety bond with the Lieutenant Governor which must: (1) be in effect during the period of registration and for two years after the provider ceases providing debt-management services to individuals in the Virgin […]
§ 414. Bond required: substitute
(a) Instead of the surety bond required by section 413, a provider may deliver to the Lieutenant Governor, in the amount required by section 413(b), and, except as otherwise provided in paragraph (2)(A), payable or available to Virgin Islands and to individuals who reside in the Virgin Islands when they agree to receive debt-management services […]
§ 415. Requirement of good faith
A provider shall act in good faith in all matters under this chapter.