§ 1961. Authority for higher interest rates for amounts payable to beneficiaries

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1979

   Veterans’ Disability Compensation and Survivors’ Benefits Amendments of 1979

   Pub. L. 96–128 title III § 303(a) · 93 Stat. 982

   Enacted · 38 U.S.C. § 1961

   Added Pub. L. 96–128, title III, § 303(a), Nov. 28, 1979, 93 Stat. 986, § 761

   Source evidence

   Code source credit
   Added Pub. L. 96–128, title III, § 303(a), Nov. 28, 1979, 93 Stat. 986, § 761

   Enacted provision · exact public law section
   (a) Subchapter n of chapter 19 is amended by adding at the end thereof the following new section: “§ 761. Authority for higher interest rates for amounts payable to beneficiaries “Notwithstanding section 744(b) of this title, if the beneficiary of an insurance policy issued under the provisions of this subchapter 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 such section. The Administrator 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. Any such higher interest rate shall be paid on the unpaid balance of such monthly installments.”.

2. 1991

   Pub. L. 102–83 § 5(a) · 105 Stat. 378

   Changed · 38 U.S.C. § 1961

   Pub. L. 102–83, § 5(a), renumbered section 761 of this title as this section

   Source evidence

   Code amendment note
   Pub. L. 102–83, § 5(a), renumbered section 761 of this title as this section.

   Enacted provision · exact public law section
   (a) Redesignation of Sections to Conform to Chapter Numbers.— Each section contained in any of chapters 11 through 23 is redesignated by replacing the first digit of the section number with the number of the chapter containing that section. Each section contained in any of chapters 24 through 42 is redesignated so that the first two digits of the section number of that section are the same as the chapter number of the chapter containing that section.

3. 1991

   Pub. L. 102–83 § 5(c)(1) · 105 Stat. 378

   Substituted · 38 U.S.C. § 1961

   Pub. L. 102–83, § 5(c)(1), substituted “1944(b)” for “744(b)”

   Target inherited from the preceding amendment note.

   Source evidence

   Code amendment note
   Pub. L. 102–83, § 5(c)(1), substituted “1944(b)” for “744(b)”.

   Enacted provision · exact public law section
   (1) Each provision of title 38, United States Code, that contains a reference to a section redesignated by subsection (a) is amended so that the reference refers to the section as redesignated.

4. 1991

   Pub. L. 102–83 § 4(b)(1) · 105 Stat. 378

   Substituted · 38 U.S.C. § 1961

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

   Target inherited from the preceding amendment note.

   Source evidence

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

   Enacted provision · exact public law section
   (1) Title 38 is further amended by striking out “Administrator” and “Administrator’s” each place they appear (except as provided in paragraphs (2) and (9) and including where they appear in section headings and tables of sections) and inserting in lieu thereof “Secretary” and “Secretary’s”, respectively.

4 of 4 references resolved to an enrolled provision