DIVISION OF BANKING & INSURANCEINSURANCE LICENSING &
MISCELLANEOUS FEE SCHEDULE
License
Type/Miscellaneous Item
Original Fee
Renewal Fee
Bond Required
AGENT AND SOLICITOR
LICENSE:
Insurance Agent
$300.00
$100.00
No
Insurance Solicitor
$300.00
$100.00
No
Apprentice Agent/Solicitor
$50.00
N/A
No
Non-Resident Agent
$600.00
$350.00
No
BROKER LICENSE:
Resident Broker
$400.00
$200.00
$10,000
Non-Resident Broker
$800.00
$350.00
$10,000
Surplus Lines Broker
$400.00
$400.00
$10,000
GENERAL AGENT:
$600.00
$350.00
No
ADJUSTER LICENSE:
Independent/Public Adjuster
$300.00
$150.00
$5,000 (Public only)
LICENSING REQUIREMENTS:
Examination for License, each examination
$50.00
N/A
N/A
P&C Study Manual
$50.00
N/A
N/A
L&H Study Manual
$50.00
N/A
N/A
VI Code Extract Manual
$8.00
N/A
N/A
CERTIFICATE OF
AUTHORITY/REGISTRATION: Include Insurer, Risk Retention
and Purchasing Groups
Issuance
$1,100.00
N/A
N/A
Renewal
$600.00
N/A
N/A
Application
Processing (non-refundable)
$300.00
N/A
N/A
SURPLUS LINE:
Approval
$600.00
N/A
N/A
Re-Certification
$350.00
N/A
N/A
EXEMPT INTERNATIONAL
INSURERS - CAPTIVES:
§1404
Issuance
$6,100.00
N/A
Renewal
$6,100.00
N/A
Application
Processing (non-refundable)
$1,100.00
N/A
EXEMPT SUPPORT BUSINESS:
§1414
Issuance
$1,100.00
N/A
Renewal
$1,100.00
N/A
PREMIUM FINANCE COMPANY LICENSE:
§1643
$350.00
$300.00
N/A
AIR AMBULANCE ASSOCIATION: §1675
Issuance
$350.00
N/A
Renewal
$300.00
N/A
Sales Representative License §1688
$ 75.00
N/A
N/A
FILINGS:
Filing of Appointment of Agent
$12.50
N/A
N/A
Filing of Statement of Agreement
$12.50
N/A
N/A
Filing Original
Articles of Incorporation, bylaws
$150.00
N/A
N/A
Filing Amended
Articles of Incorporation
$75.00
N/A
N/A
Filing any
Charter documents in the Office of the Lt. Governor
$25.00
N/A
N/A
Filing of Annual
Statement under Section 222, Title 22 VIC
$250.00
N/A
N/A
Filing of
Quarterly Statement of Taxes under Section 603, T22 VIC
$50.00
N/A
N/A
Filing of Policy Forms
$20.00
N/A
N/A
MISCELLANEOUS SERVICES:
Shipping and Handling
$4.30
N/A
N/A
Copies Per Page
$2.00
N/A
N/A
License Late Fee per License
$25.00
N/A
N/A
Commissioner's Certificate under Seal
$50.00
N/A
N/A
Filing Rule, Rate & Other Documents, each
$25.00
N/A
N/A
* Updated as per Bulletin 2003-04 in
accordance with Act No. 6585, which amended Title 22, Section 601; Act No.
6588, which amended Title 22, Section 1404, and to add Chapters 61 and 63..
Initial Notice
Filing Fee for an Investment Company
$1,500.00
N/A
N/A
Late Fee for
Initial Notice Filings for an Investment Company
$3,000.00
N/A
N/A
Security
Registration by Coordination/Qualification Filing Fee
$1,000.00 *
Broker-Dealer
Filing Fee
$200.00
$100.00
$25,000
Non-NASD &
non-exchange member broker dealer with net-capital less than $100,000
Agent Filing Fee
$50.00
$50.00
N/A
Filing for a
change of registration as an Agent
$50.00
N/A
N/A
Investment
Adviser Filing Fee
$200.00
$100.00
N/A
Investment
Adviser Representative Filing Fee
$50.00
$100.00
N/A
Filing for a
change of registration as an Investment Adviser Rep.
$50.00
N/A
N/A
Federal covered
Investment Adviser Notice Filing Fee
$200.00
$100.00
N/A
* Minimum registration fee not to exceed $3,000. (Registration filing fee of
1/20 of 1 percent of the aggregate amount of securities that will be
registered in the Virgin Islands.
** Surety bond in the amount of $50,000; plus $10,000 per location, not
exceeding a total addition of $250,000.00. Title 9 Virgin Islands Code,
Section 513 (Note that the Director may increase the amount of
security required to a maximum of $1,000,000.00 if the financial condition
of a license so requires, as evidenced by reduction of net worth, financial
losses, or other relevant criteria.Title 9 Virgin
Islands Code, Section 513(f))
Updated as per Act No. 6678 which
amended Title 9 to add Chapter 23; Act No. 6588, which amended Section 192 of
Title 9; Act No. 6727, which amended Title 9 to add Chapter 20; Act No.
6678, which amended Title 9 to add Chapter 22 and 23
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