US Lawyer Database

For Lawyer-Seekers

YOU DESERVE THE BEST LAWYER

Home » US Law » 2019 US Virgin Islands Code » Title 22 - Insurance » Chapter 49 - Unfair Practices and Frauds

§ 1221. Hypothecation of premium notes

It shall be unlawful for any insurer or its representative, or any agent or broker, to hypothecate, sell, or dispose of any promissory note, received in payment for any premium or part thereof on any contract of life insurance or of disability insurance applied for, prior to delivery of the policy to the applicant.

§ 1222. Misrepresentation in application for insurance

Any agent, solicitor, broker, examining physician or other person who makes a false or fraudulent statement or representation in or relative to an application for insurance in an insurer transacting insurance under the provisions of this title, shall be guilty of a misdemeanor, and the license of any such agent, solicitor, or broker so guilty […]

§ 1223. Wilful destruction or injury of property

Any person, who, with intent to defraud or prejudice the insurer thereof, wilfully burns or in any manner injures or destroys property which is insured at the time against loss or damage by fire or by any other casualty, under such circumstances not making the offense arson, is guilty of a felony.

§ 1224. False claims or proof

Any person, who, knowing it to be such: (1) presents, or causes to be presented, a false or fraudulent claim, or any proof in support of such claim, for the payment of a loss under a contract of insurance; or (2) prepares, makes or subscribes to any false or fraudulent account, certificate, affidavit, or proof […]

§ 1225. Rate wars prohibited

(a) Any insurer which precipitates, or aids in precipitating or conducting a rate war and by so doing writes or issues a policy of insurance at a less rate than permitted under its schedules filed with the Commissioner, or below the rate deemed by him to be proper and adequate to cover the class of […]

§ 1226. Interlocking ownership, management

(a) Any insurer may retain, invest in or acquire the whole or any part of the capital stock of any other insurer or insurers, or have a common management with any other insurer or insurers, unless such retention, investment, acquisition or common management is inconsistent with any other provision of this title, or unless by […]

§ 1227. Right of debtor or borrower to select agent, broker, insurer

Every debtor or borrower, when property insurance of any kind is required in connection with the debt or loan, shall have reasonable opportunity and choice in the selection of the agent, broker, and insurer through whom such insurance is to be placed; but only if the insurance is properly provided for the protection of the […]

§ 1228. Penalty for exhibiting false accounts, etc.

Every person who, with intent to deceive, knowingly exhibits any false account, or document, or advertisement, relative to the affairs of any insurer, or of any corporation or syndicate of the kind enumerated in chapter 11 of this title formed or proposed to be formed, shall be guilty of a felony.