38 USC § 1926 - Authority for higher interest rates for amounts payable to beneficiaries | Title 38 - Veterans Benefits | U.S. Code

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Current through Pub. L. 113-99. (See Public Laws for the current Congress.)

Notwithstanding sections 1902, 1923, and 1925 of this title, if the beneficiary of an insurance policy receives the proceeds of such policy under a settlement option under which such proceeds are paid in equal monthly installments over a limited period of months, the interest that may be added to each such installment may be at a rate that is higher than the interest rate prescribed in the appropriate section of this subchapter. The Secretary may from time to time establish a higher interest rate under the preceding sentence only in accordance with a determination that such higher rate is administratively and actuarially sound for the program of insurance concerned. Any such higher interest rate shall be paid on the unpaid balance of such monthly installments.

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Notwithstanding sections 1902, 1923, and 1925 of this title, if the beneficiary of an insurance policy receives the proceeds of such policy under a settlement option under which such proceeds are paid in equal monthly installments over a limited period of months, the interest that may be added to each such installment may be at a rate that is higher than the interest rate prescribed in the appropriate section of this subchapter. The Secretary may from time to time establish a higher interest rate under the preceding sentence only in accordance with a determination that such higher rate is administratively and actuarially sound for the program of insurance concerned. Any such higher interest rate shall be paid on the unpaid balance of such monthly installments.

Source

(Added Pub. L. 96–128, title III, § 302(a),Nov. 28, 1979, 93 Stat. 986, § 726; renumbered § 1926 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), (c)(1),Aug. 6, 1991, 105 Stat. 404–406.)

Amendments

1991—Pub. L. 102–83, § 5(a), renumbered section 726 of this title as this section.

Pub. L. 102–83, § 5(c)(1), substituted “1902, 1923, and 1925” for “702, 723, and 725”.

Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”.

Effective Date

Section effective Nov. 28, 1979, see section 601(b) ofPub. L. 96–128, set out as an Effective Date of 1979 Amendment note under section 1114 of this title.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, May 21, 2013

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"nt" means note.
"nt [tbl]" means note [table].
"prec" means preceding.
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"to" means a transfer to another section.
"omitted" means the section is omitted.
"repealed" means the section is repealed.
"nt ed change" and "ed change" - See the Editorial Classification Change Table [pdf].

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General Reference

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38 USC	Description of Change	Session Year	Public Law	Statutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

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38 CFR - Title 38—Pensions, Bonuses, and Veterans' Relief

38 CFR 8 - NATIONAL SERVICE LIFE INSURANCE

38 USC § 1926 - Authority for higher interest rates for amounts payable to beneficiaries

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