(a) No person forming or proposing to form in this territory an insurer, or insurance holding corporation, or stock corporation to finance an insurer or insurance production therefor, or corporation to manage an insurer, or a syndicate for any of such purposes, shall advertise, or solicit or receive any funds, agreement, stock subscription, or membership on account thereof unless he has applied for and has received from the Commissioner a solicitation permit.\n(b) Any person violating this section shall be subject to a fine of not more than $10,000 or imprisonment for not more than ten years, or by both fine and imprisonment.
U.S. Virgin Islands Legal Code
253
U.S. Virgin Islands § 253 — U.S. Virgin Islands law