2010 US Code
Title 50 - WAR AND NATIONAL DEFENSE
TITLE 50 - APPENDIX-WAR AND NATIONAL DEFENSE
SERVICEMEMBERS CIVIL RELIEF ACT
Sec. 541 - Definitions
View MetadataPublication Title | United States Code, 2006 Edition, Supplement 4, Title 50 - WAR AND NATIONAL DEFENSE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 50 - WAR AND NATIONAL DEFENSE TITLE 50 - APPENDIX-WAR AND NATIONAL DEFENSE SERVICEMEMBERS CIVIL RELIEF ACT ACT OCT. 17, 1940, CH. 888, 54 STAT. 1178 TITLE IV - LIFE INSURANCE Sec. 541 - Definitions |
Contains | section 541 |
Date | 2010 |
Laws in Effect as of Date | January 7, 2011 |
Positive Law | No |
Disposition | standard |
Source Credit | Oct. 17, 1940, ch. 888, title IV, §401, as added Pub. L. 108-189, §1, Dec. 19, 2003, 117 Stat. 2851. |
Statutes at Large References | 54 Stat. 1178, 1183 56 Stat. 774 105 Stat. 40 117 Stat. 2851 |
Public Law References | Public Law 102-12, Public Law 108-189 |
§541. Definitions
For the purposes of this title [sections 541 to 549 of this Appendix]:
(1) PolicyThe term “policy” means any individual contract for whole, endowment, universal, or term life insurance (other than group term life insurance coverage), including any benefit in the nature of such insurance arising out of membership in any fraternal or beneficial association which—
(A) provides that the insurer may not—
(i) decrease the amount of coverage or require the payment of an additional amount as premiums if the insured engages in military service (except increases in premiums in individual term insurance based upon age); or
(ii) limit or restrict coverage for any activity required by military service; and
(B) is in force not less than 180 days before the date of the insured's entry into military service and at the time of application under this title.
(2) PremiumThe term “premium” means the amount specified in an insurance policy to be paid to keep the policy in force.
(3) InsuredThe term “insured” means a servicemember whose life is insured under a policy.
(4) InsurerThe term “insurer” includes any firm, corporation, partnership, association, or business that is chartered or authorized to provide insurance and issue contracts or policies by the laws of a State or the United States.
(Oct. 17, 1940, ch. 888, title IV, §401, as added Pub. L. 108–189, §1, Dec. 19, 2003, 117 Stat. 2851.)
Prior ProvisionsA prior section 541, acts Oct. 17, 1940, ch. 888, art. IV, §401, 54 Stat. 1183; Oct. 6, 1942, ch. 581, §13, 56 Stat. 774; Pub. L. 102–12, §9(12), Mar. 18, 1991, 105 Stat. 40, related to persons entitled to benefits of former article IV of this Act, applications, and amount of insurance protected, prior to the general amendment of this Act by Pub. L. 108–189. See section 542 of this Appendix.
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