Title 38 — Veterans’ Benefits
Part II · Chapter 19 — Insurance
§ 1966. Eligible insurance companies
Statutory text
The Secretary is authorized, without regard to section 6101(b) to (d) of title 41, to purchase from one or more life insurance companies a policy or policies of group life insurance to provide the benefits specified in this subchapter. Each such life insurance company must (1) be licensed to issue life insurance in each of the fifty States of the United States and in the District of Columbia, and (2) as of the most recent December 31 for which information is available to the Secretary, have in effect at least 1 percent of the total amount of group life insurance which all life insurance companies have in effect in the United States.
The life insurance company or companies issuing such policy or policies shall establish an administrative office at a place and under a name designated by the Secretary.
The Secretary shall arrange with the life insurance company or companies issuing any policy or policies under this subchapter to reinsure, under conditions approved by the Secretary, portions of the total amount of insurance under such policy or policies with such other life insurance companies (which meet qualifying criteria set forth by the Secretary) as may elect to participate in such reinsurance.
The Secretary may at any time discontinue any policy or policies which the Secretary has purchased from any insurance company under this subchapter.
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.
Pub. L. 89–214 § 1(a) · 79 Stat. 880
Enacted · 38 U.S.C. § 1966
Added Pub. L. 89–214, § 1(a), Sept. 29, 1965, 79 Stat. 880, § 766
Source evidence
Code source credit
Added Pub. L. 89–214, § 1(a), Sept. 29, 1965, 79 Stat. 880, § 766Enacted provision · exact public law section
(1) as a direct result of actions of hostile forces;Pub. L. 97–295 § 4(29) · 96 Stat. 1287
Substituted · 38 U.S.C. § 1966(a)
Pub. L. 97–295 substituted “percent” for “per centum”
Source evidence
Code amendment note
Subsec. (a). Pub. L. 97–295 substituted “percent” for “per centum”.Enacted provision · exact public law section
(29) Section 766(a) is amended by striking out “per centum” 38 USC 766. and substituting “percent”.Pub. L. 99–576 § 701(36)(A) · 100 Stat. 3248
Substituted · 38 U.S.C. § 1966(c)
Pub. L. 99–576, § 701(36)(A), substituted “the Administrator” for “him”
Source evidence
Code amendment note
Subsec. (c). Pub. L. 99–576, § 701(36)(A), substituted “the Administrator” for “him”.Enacted provision · exact public law section
(A) in subsection (c), by striking out “him” and inserting in lieu thereof “the Administrator”; andPub. L. 99–576 § 701(36)(B) · 100 Stat. 3248
Substituted · 38 U.S.C. § 1966(d)
Pub. L. 99–576, § 701(36)(B), substituted “the Administrator” for “he”
Source evidence
Code amendment note
Subsec. (d). Pub. L. 99–576, § 701(36)(B), substituted “the Administrator” for “he”.Enacted provision · exact public law section
(B) in subsection (d), by striking out “he” and inserting in lieu thereof “the Administrator”.Pub. L. 102–83 · 105 Stat. 378
Substituted · 38 U.S.C. § 1966
Pub. L. 102–83 renumbered section 766 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing
Source evidence
Code amendment note
Pub. L. 102–83 renumbered section 766 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing.Pub. L. 111–350 § 5(j)(2) · 124 Stat. 3677
Substituted · 38 U.S.C. § 1966(a)
Pub. L. 111–350 substituted “section 6101(b) to (d) of title 41” for “section 3709 of the Revised Statutes, as amended (41 U.S.C. 5)”
Source evidence
Code amendment note
Subsec. (a). Pub. L. 111–350 substituted “section 6101(b) to (d) of title 41” for “section 3709 of the Revised Statutes, as amended (41 U.S.C. 5)”.Enacted provision · exact public law section
(2) In section 1966(a), strike “section 3709 of the Revised Statutes, as amended (41 U.S.C. 5)” and substitute “section 6101(b) to (d) of title 41”.
5 of 6 references resolved to an enrolled provision · 1 partial
Editorial Notes
Amendments1982–2011 · 4 rounds
2011
Subsec. (a). Pub. L. 111–350 substituted “section 6101(b) to (d) of title 41” for “section 3709 of the Revised Statutes, as amended (41 U.S.C. 5)”.
1991
Pub. L. 102–83 renumbered section 766 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing.
1986
Subsec. (c). Pub. L. 99–576, § 701(36)(A), substituted “the Administrator” for “him”.
Subsec. (d). Pub. L. 99–576, § 701(36)(B), substituted “the Administrator” for “he”.
1982
Subsec. (a). Pub. L. 97–295 substituted “percent” for “per centum”.
Credits
1965–2011 · 5 acts
- 1965Added Pub. L. 89–214, § 1(a), , 79 Stat. 880, § 766
- 1982amended Pub. L. 97–295, § 4(29), , 96 Stat. 1307
- 1986Pub. L. 99–576, title VII, § 701(36), , 100 Stat. 3293
- 1991renumbered § 1966 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), , 105 Stat. 404–406
- 2011Pub. L. 111–350, § 5(j)(2), , 124 Stat. 3850.
Show as published
(Added Pub. L. 89–214, § 1(a), , 79 Stat. 880, § 766; amended Pub. L. 97–295, § 4(29), , 96 Stat. 1307; Pub. L. 99–576, title VII, § 701(36), , 100 Stat. 3293; renumbered § 1966 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), , 105 Stat. 404–406; Pub. L. 111–350, § 5(j)(2), , 124 Stat. 3850.)