Act No. 7390 — An Act amending title 9 Virgin Islands Code, adding chapter 25, “The International Banking Center Regulatory Act”, and repealing chapter 21
ACTNO, 7390 LL NO. 29-0308 TWENTY-NINTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2012 An Act amending title 9 Virgin Islands Code, adding chapter 25, “The International Banking Center Regulatory Act”, and repealing chapter 21 of title 9 ze | Pee Be it enacted by the Legislature of the Virgin Islands: SECTION 1. Title 9 Virgin Islands Code, is amended in the following instances: (a) Chapter 1, section 4 is amended by: (1) striking “exempt”; and (2) striking “facility” and inserting in its place, “entity”. (b) Chapter 25 is added and reads as follows: “CHAPTER 25 Subchapter I: International Banking Entities §715. [Short title] This chapter may be cited as ‘The International Banking Center Regulatory Act.’ §716. Definitions As used in this chapter: (a) “Bank Secrecy Act (BSA)” means the federal Bank Secrecy Act of 1970, as amended by title III of the USA PATRIOT Act, codified in 31 U.S.C. …
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Archive identifier LF-9334d9526795