§ 1963. Authority for payment of interest on settlements

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. 1988

   Veterans’ Benefits Improvement Act of 1988

   Pub. L. 100–687 div. B title XIV § 1401(a)(2) · 102 Stat. 4105

   Enacted · 38 U.S.C. § 1963

   Added Pub. L. 100–687, div. B, title XIV, § 1401(a)(2), Nov. 18, 1988, 102 Stat. 4128, § 763

   Source evidence

   Code source credit
   Added Pub. L. 100–687, div. B, title XIV, § 1401(a)(2), Nov. 18, 1988, 102 Stat. 4128, § 763

   Enacted provision · exact public law section
   (2) Subchapter II of chapter 19 is amended by adding at the end the following new section: “§ 763. Authority for payment of interest on settlements “(a) Subject to subsection (b) of this section, the Administrator 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. “(b) (1) The Administrator may pay interest under subsection (a) of this section only if the Administrator determines that the payment of such interest is administratively and actuarially sound for the settlement option involved. “(2) Interest paid under subsection (a) shall be at the rate that is established by the Administrator for dividends held on credit or deposit in policyholders’ accounts”.

2. 1991

   Pub. L. 102–83 · 105 Stat. 378

   Substituted · 38 U.S.C. § 1963

   Pub. L. 102–83 renumbered section 763 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing

   Source evidence

   Code amendment note
   Pub. L. 102–83 renumbered section 763 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing.

1 of 2 references resolved to an enrolled provision · 1 partial