Act No. 8041 (32nd Legislature) — An act amending title 22 Virgin Islands Code, chapter 39 designating current sections 951 through 983 subchapter I, section 984 as subchapte
ACT NO. 8 BILL NO. 32-0168 THIRTY-SECOND LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2018 An act amending title 22 Virgin Islands Code, chapter 39 designating current sections 951 through 983 subchapter I, section 984 as subchapter II, and by adding a subchapter III entitled “The Standard Nonforfeiture Law of 2018 for Life Insurance,” which meets the accreditation standards established by the National Association of Insurance Commissioners in its model laws and updates the insurance laws of the Virgin Islands of the United States placing them on par with other United States jurisdictions thereby affording greater and more effective protection to the policyholders in the Virgin Islands WHEREAS, the laws governing the insurance industry in the Virgin Islands of the United States are outdated as many of the laws were enacted in 1968 and have not been updated; and WHEREAS. …
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