38 U.S. Code § 1963 - Authority for payment of interest on settlements
prev | next
(a) Subject to subsection (b) of this section, the Secretary may pay interest on the proceeds of a United States Government Life Insurance policy from the date the policy matures to the date of payment of the proceeds to the beneficiary or, in the case of an endowment policy, to the policyholder.
(1) The Secretary may pay interest under subsection (a) of this section only if the Secretary determines that the payment of such interest is administratively and actuarially sound for the settlement option involved.
Source(Added Pub. L. 100–687, div. B, title XIV, § 1401(a)(2),Nov. 18, 1988, 102 Stat. 4128, § 763; renumbered § 1963 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a),Aug. 6, 1991, 105 Stat. 404–406.)
1991—Pub. L. 102–83renumbered section 763 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing.