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► 50 U.S.C. § 3976 50 u.s.c. · servicemembers civil relief · title 50
50 U.S.C. § 3976
Deduction of unpaid premiums
Title 50 USC
● ACTIVE
Ch. 50
Jurisdiction Federal — United States
Chapter SERVICEMEMBERS CIVIL RELIEF
Primary Source uscode.house.gov ↗
Federation ID OM-USC50-SEC-F8964D
► STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 50 - WAR AND NATIONAL DEFENSE 50 U.S.C. United States Code, 2023 Edition Title 50 - WAR AND NATIONAL DEFENSE CHAPTER 50 - SERVICEMEMBERS CIVIL RELIEF SUBCHAPTER IV - LIFE INSURANCE Sec. 3976 - Deduction of unpaid premiums From the U.S. Government Publishing Office, www.gpo.gov

§3976. Deduction of unpaid premiums

(a) Settlement of proceeds If a policy matures as a result of a servicemember's death or otherwise during the period of protection of the policy under this subchapter, the insurer in making settlement shall deduct from the insurance proceeds the amount of the unpaid premiums guaranteed under this subchapter, together with interest due at the rate fixed in the policy for policy loans. (b) Interest rate If the interest rate is not specifically fixed in the policy, the rate shall be the same as for policy loans in other policies issued by the insurer at the time the insured's policy was issued. (c) Reporting requirement The amount deducted under this section, if any, shall be reported by the insurer to the Secretary of Veterans Affairs.

(Oct. 17, 1940, ch. 888, title IV, §406, as added Pub. L. 108–189, §1, Dec. 19, 2003, 117 Stat. 2853.)

Editorial Notes

Codification Section was formerly classified to section 546 of the former Appendix to this title prior to editorial reclassification and renumbering as this section.

Prior Provisions A prior section 406 of act Oct. 17, 1940, ch. 888, art. IV, 54 Stat. 1184; Oct. 6, 1942, ch. 581, §13, 56 Stat. 775; Apr. 3, 1948, ch. 170, §6, 62 Stat. 160, related to guaranty of premiums and interest by United States, settlement of amounts due upon expiration of protection, subrogation of United States, and crediting debt repayments, prior to the general amendment of this Act by Pub. L. 108–189. See section 3977 of this title.

Statutory Notes and Related Subsidiaries

Effective Date Section applicable to any case not final before Dec. 19, 2003, see section 3 of Pub. L. 108–189, set out as a note under section 3901 of this title.

Source: uscode.house.gov — public domain Official Source ↗
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The statutory text of 50 U.S.C. § 3976 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 50 U.S.C. § 3975 50 U.S.C. § 3977 →
Chapter 50 — SERVICEMEMBERS CIVIL RELIEF
50 U.S.C. § 390150 U.S.C. § 390250 U.S.C. § 391150 U.S.C. § 391250 U.S.C. § 391350 U.S.C. § 391450 U.S.C. § 391550 U.S.C. § 391650 U.S.C. § 391750 U.S.C. § 391850 U.S.C. § 391950 U.S.C. § 392050 U.S.C. § 393150 U.S.C. § 393250 U.S.C. § 393350 U.S.C. § 393450 U.S.C. § 393550 U.S.C. § 393650 U.S.C. § 393750 U.S.C. § 393850 U.S.C. § 3938a50 U.S.C. § 395150 U.S.C. § 395250 U.S.C. § 3953
50 U.S.C. — public domain ← All Legislation
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50 U.S.C.
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50 U.S.C. § 3976
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Chapter
50 — SERVICEMEMBERS CIVIL RELIEF
Title
War and National Defense
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Federal
Federation ID
OM-USC50-SEC-F8964D
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War and National Defense — 50 U.S.C. § 3976