Act No. 7727 — An Act amending title 9 Virgin Islands Code, section 183, chapter 15, subsection (a), is amended to add an interest rate floor to small loan
ACTNO, 772% BILL NO. 30-0562 THIRTIETH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2014 An Act amending title 9 Virgin Islands Code, section 183, chapter 15, subsection (a), is amended to add an interest rate floor to small loans --0--—- Be it enacted by the Legislature of the Virgin Islands: SECTION 1. Title 9 Virgin Islands Code, section 183, subsection (a), is amended in the following instances: (a) In the second sentence after the first occurrence of “26 percent per annum” insert “but not less than 19.50 percent per annum”; (b) In the fourth sentence after the first occurrence of “be” insert “ lower than 19.50 percent per annum, or not”; (c) In the fifth sentence after “annum” insert “and not less than 19.50 percent per annum” (d) Strike the sixth sentence in its entirety. Thus passed by the Legislature of the Virgin Islands on December 19, 2014. Witness our Hands and Seal of the Legislature of the Virgin Islands this aa Hf ay of December, A.D., 2014. “BLL gl — Shawn-Michael Malone President Q Lust Janetje Millin Young LegiSlative Secretary Bill Ne. …
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