Volume 77 · 271
Public Law 88–151
To amend section 1820 of title 38 of the United States Code to provide for waiver of indebtedness to the United States in certain cases arising out of default on loans guaranteed or made by the Veterans’ Administration.
Approved October 17, 1963
Statutory text
AN ACT
To amend section 1820 of title 38 of the United States Code to provide for waiver of indebtedness to the United States in certain cases arising out of default on loans guaranteed or made by the Veterans’ Administration.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That section
Veterans, waiver of indebtedness.
1820(a)(4) of title 38, United States Code, is amended by adding after the semicolon the following: “and the authority to waive or release claims may include partial or total waiver of payment by the veteran, or his spouse, following default and loss of the property where the Administrator determines that the default arose out of compelling reasons without fault on the part of the veteran or that collection of the indebtedness would otherwise work a severe hardship upon the veteran;”.
Sec. 2.
The Administrator of Veterans’ Affairs shall submit to the
Report to Congress.
Committee on Labor and Public Welfare of the Senate and the Committee on Veterans’ Affairs of the House of Representatives, not later than December 31 of each year, a written report concerning each case in which a waiver of indebtedness has been made under the authority of the amendment made by the first section of this Act. Such report shall include, together with such other information as the Administrator deems appropriate, the name and address of each person with respect to which a waiver of indebtedness has been made and the total amount of such waiver.
Approved October 17, 1963.