50a U.S. Code Rule - Policies entitled to protection and lapse of policies
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(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.
Source(Oct. 17, 1940, ch. 888, title IV, § 404, as added Pub. L. 108–189, § 1,Dec. 19, 2003, 117 Stat. 2853.)
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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