§ 717. Authority and duties of the Board
(a) The Board shall: (1) adopt, and may thereafter, from time to time, repeal, amend, or supplement regulations in order to comply with the provisions of this chapter; (2) collect fees for examinations and audits, receive monies and make disbursements according to its budget or as otherwise provided by law or regulations; (3) open and […]
§ 718. Interest rates and reserves
(a) International Financial Services Entities may never bear interest at an interest rate of less than five percentage points above the Federal Home Loan Mortgage Corporation’s posted yield on the last business day of the month on thirty-year standard conventional fixed-rate mortgages committed for delivery within sixty days, rounded to the nearest one-fourth percent, which […]
§ 719. Organization
(a) An international financial services entity may be: (1) any person, other than an individual, incorporated or organized under the laws of Virgin Islands, of the United States, or of any other country, or (2) constituted as a unit of another person, other than an individual, incorporated or organized under the laws of Virgin Islands, […]