Act No. 7880 — An Act amending title 3 Virgin Islands Code, sections 717 and 766 by requiring the GERS to issue personal loans to members in an amount not
ACTNO, 7880 BILL NO. 31-0289 THIRTY-FIRST LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2016 An Act amending title 3 Virgin Islands Code, sections 717 and 766 by requiring the GERS to issue personal loans to members in an amount not to exceed $10,000 and requiring that the personal loans issued not exceed the aggregate amount of $10,000,000 per annum, per district and by making a technical amendment ---()--- Be it enacted by the Legislature of the Virgin Islands: SECTION If. Title 3 Virgin Islands Code, chapter 27, section 717 is amended in the following instances: (a) subsection (b) is amended— (A) _ by striking paragraphs (11) and (14) in their entirety; and (B) _ by striking the phrase, “Notwithstanding any other provision of law” at the beginning of paragraph (19) and inserting at the end of paragraph (19) “; except that the loan lending limits for personal loans are as prescribed in subsection (c)”. (b) The affected paragraphs are renumbered accordingly. …
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