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September 26, 2018 @ 10:00 am
The committee has scheduled a meeting to consider the following:
BR17-0581 – An Act amending Title 22 of the Virgin Islands Code to add a chapter 42 enacting “The Actuarial Opinion and Memorandum Act” to meet the accreditation standards established by the National Association of Insurance Commissioners, and to provide for greater and more effective protection to the policyholders of the territory”
(Proposed by Senator Kurt A. Vialet)
BR17-0576 – An Act amending Title 22 of the Virgin Islands Code, chapter 21, by designating the existing sections as subchapter I and by adding a subchapter II entitled “Standard Valuation Act of 2018,” to meet the accreditation standards established by the National Association of Insurance Commissioners in its model laws and to update the insurance laws of the territory placing them on par with other United States jurisdictions to more effectively protect to the policyholders of the territory (Proposed by Senator Kurt A. Vialet)
BR17-0579 – An Act to amend Title 9, Virgin Islands Code, chapter 22, “Uniform Money Services Act” for the purpose of granting to the Office of the Lieutenant Governor, Division of Banking, Insurance and Financial Regulation the authority to license authorized delegates, to establish requirements for alien companies seeking to conduct businesses and for other related purposes. (Proposed by Senator Kurt A. Vialet)
Bill No. 32-0256 – An Act amending Title 9, Virgin Islands Code, adding chapter 25, enacting The Finance Lenders Law” (Proposed by Senator Nereida Rivera O’Reilly)