Act No. 8501 (34th Legislature) — An Act amending Virgin Islands Code, title 22, chapter 10, section 237(a)(3) (A) and title 33, chapter 111, section 3061 relating to the bal
ACTNO. 8501 BILL NO. 34-0137 THIRTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2021 An Act amending Virgin Islands Code, title 22, chapter 10, section 237(a)(3) (A) and title 33, chapter 111, section 3061 relating to the balance in the Insurance Guaranty Fund to amend the currently required $30,000,000 amount which is set to increase to $50,000,000 on September 30, 2022, to $40,000,000 ---0--- Be it enacted by the Legislature of the Virgin Islands: SECTION 1. Notwithstanding Act No. 8126, title 22 Virgin Islands Code, chapter 10, section 237, subsection (a), paragraph (3), subparagraph (A) is amended by striking both occurrences of "$30,000,000" and inserting "$40,000,000". SECTION 2. Title 33 Virgin Islands Code, chapter 111, section 3061 is amended in subsections (d) and (e) by striking "$30,000,000" wherever it appears and replacing it with "$40,000,000". SECTION 3. The provision set forth in Section 2 expires on September 30, 2022. Thus passed by the Legislature of the Virgin Islands on September 17, 2021. …
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