§ 1686. Examination of associations
Ambulance service associations shall be subject to periodic examination by the Commissioner in the same manner and subject to the same terms and conditions as apply to insurers under chapter 5 of this title.
§ 1677. Required deposit or bond
(a) To assure the faithful performance of its obligation to its members or subscribers, every ambulance service association shall, prior to issuance of its certificate of authority by the Commissioner, deposit with the Commissioner, securities of the type eligible for deposit by insurers under chapter 9, section 207 of this title, and having a market […]
§ 1678. Levy upon deposit
No judgment creditor or other claimant of an association shall have the right to levy upon any of the assets or securities held in the territory as a deposit under section 1677 of this title.
§ 1679. Suspension or revocation of, or refusal to renew certificate of authority
(a) The Commissioner may, in his discretion, suspend, revoke, or refuse to renew the certificate of authority of any association if he finds that the association: (1) Has violated any lawful order, rule or regulation of this chapter. (2) Is in unsound financial condition so as to render its further transaction of business in the […]
§ 1680. Notice of suspension or revocation of certificate of authority
(a) The Commissioner shall promptly give notice of the suspension or revocation of the certificate of authority of an association to its sales representatives in the territory of record in the office of the Commissioner. (b) In his discretion, the Commissioner may cause notice of any such revocation to be published in one or more […]
§ 1681. Duration of suspension; obligations of association during suspension period; reinstatement
(a) The suspension of the certificate of authority of an association shall be for a period not to exceed one year, as specified by the Commissioner in the order of suspension. The Commissioner may subsequently shorten or rescind the order upon which the suspension is based. (b) During the period of suspension, the association shall […]
§ 1672. Powers of Commissioner; regulations
The Commissioner shall administer this Chapter; and to that end, may adopt, promulgate, and enforce regulations necessary and proper to effectuate any provisions of this chapter.
§ 1673. Applicability of other laws
(a) Except as provided in this chapter, ambulance service associations shall be exempt from all other provisions of the Virgin Islands Insurance Code. (b) Any rehabilitation, liquidation, conservation, or dissolution of an ambulance service association insurer shall be conducted under the supervision of the Commissioner. The Commissioner shall have all the powers with respect to […]
§ 1674. Certificate of authority required
(a) No person may receive, hold, control, or manage any funds tendered as payment on any ambulance service contract until such person has a subsisting certificate of authority issued by the Commissioner. The certificate of authority shall expire on December 31st succeeding its issuance; and annually thereafter, on or before December 31st, a renewal shall […]
§ 1675. Certificate of authority; annual statement; renewal
(a) An application to the Commissioner for a certificate of authority shall be accompanied by: (1) The deposit required by section 1677 of this title; (2) The ambulance service contracts proposed to be written; (3) The name and address of the place of business of the person offering to write the ambulance contracts; (4) Evidence […]