§ 427. Periodic reports and retention of records
(a) A provider shall provide the accounting required by subsection (b): (1) upon cancellation or termination of an agreement; and (2) before cancellation or termination of any agreement: (A) at least once each month; and (B) within five business days after a request by an individual, but the provider need not comply with more than […]
§ 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.
§ 417. Prerequisites for providing debt-management services
(a) Before providing debt-management services, a registered provider shall give the individual an itemized list of goods and services and the charges for each. The list must be clear and conspicuous, be in a record the individual may keep whether or not the individual assents to an agreement, and describe the goods and services the […]
§ 418. Communication by electronic or other means
(a) In this section: (1) “Federal act” means the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq.. (2) “Consumer” means an individual who seeks or obtains goods or services that are used primarily for personal, family, or household purposes. (b) A provider may satisfy the requirements of section 417, […]
§ 419. Form and contents of agreement
(a) An agreement must: (1) be in a record; (2) be dated and signed by the provider and the individual; (3) include the name of the individual and the address where the individual resides; (4) include the name, business address, and telephone number of the provider; (5) be delivered to the individual immediately upon formation […]
§ 420. Cancellation of agreement; waiver
(a) An individual may cancel an agreement before midnight of the third business day after the individual assents to it, unless the agreement does not comply with subsection (b) or section 419 or 428, in which event the individual may cancel the agreement within 30 days after the individual assents to it. To exercise the […]
§ 421. Required language
Unless the Lieutenant Governor, by rule, provides otherwise, the disclosures and documents required by this chapter must be in English. If a provider communicates with an individual primarily in a language other than English, the provider must furnish a translation into the other language of the disclosures and documents required by this chapter.