(a) The Commissioner may establish by regulation such reasonable filing fees, initial and renewal application licensing fees, examination fees, and other administrative fees necessary for the implementation, administration and enforcement of all programs under the jurisdiction of the Commissioner. (b) All fees and penalties collected pursuant to this section shall be deposited into the Virgin […]
Each insurer now and hereafter doing business in the Virgin Islands must file with the Commissioner on or before March 1st in each year a statement of all insurance business written or contracted for, by the insurer making such statement, in the Virgin Islands during the year ending December 31st next preceding, setting forth: (1) […]
(a) “Commissioner” as used in this section means the “Commissioner of Insurance”. (b) Each insurer shall, on or before the first day of February, May, August and November of each year, pay to the Office of the Commissioner of Insurance a tax of five percent (5%) on the quarterly gross receipts premiums on all types […]
Contracts for health and/or life insurance procured by the Government of the Virgin Islands pursuant to the provisions of Title 3, Chapter 25, Subchapter VIII, Virgin Islands Code, shall be exempt from the payment of premium tax requirements as provided in section 603 of this chapter.
An insurer failing to file the statements and information required and to pay the taxes specified in this chapter, on the dates set forth herein, shall be assessed a penalty of $1,000 or 10% of the taxes due, whichever is greater, plus interest at the rate of 12% per annum, and shall be prohibited from […]
