50a U.S. Code Rule - Policies entitled to protection and lapse of policies

(a) Determination
The Secretary of Veterans Affairs shall determine whether a policy is entitled to protection under this title [sections 541 to 549 of this Appendix] and shall notify the insured and the insurer of that determination.
(b) Lapse protection
A policy that the Secretary determines is entitled to protection under this title [sections 541 to 549 of this Appendix] shall not lapse or otherwise terminate or be forfeited for the nonpayment of a premium, or interest or indebtedness on a premium, after the date on which the application for protection is received by the Secretary.
(c) Time application
The protection provided by this title [sections 541 to 549 of this Appendix] applies during the insured’s period of military service and for a period of two years thereafter.

Source

(Oct. 17, 1940, ch. 888, title IV, § 404, as added Pub. L. 108–189, § 1,Dec. 19, 2003, 117 Stat. 2853.)
Prior Provisions

A prior section 544, acts Oct. 17, 1940, ch. 888, art. IV, § 404,54 Stat. 1184; Oct. 6, 1942, ch. 581, § 13,56 Stat. 775; Pub. L. 102–12, § 9(15),Mar. 18, 1991, 105 Stat. 40, related to rights and privileges of insured during period of protection, prior to the general amendment of this Act by Pub. L. 108–189. See section 545 of this Appendix.

 

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