It shall be unlawful for any insurer or its representative, or any agent or broker, to hypothecate, sell, or dispose of any promissory note, received in payment for any premium or part thereof on any contract of life insurance or of disability insurance applied for, prior to delivery of the policy to the applicant.
U.S. Virgin Islands Legal Code
1221
U.S. Virgin Islands § 1221 — U.S. Virgin Islands law