2010 US Code
Title 50 - WAR AND NATIONAL DEFENSE
TITLE 50 - APPENDIX-WAR AND NATIONAL DEFENSE
SERVICEMEMBERS CIVIL RELIEF ACT
Sec. 546 - Deduction of unpaid premiums
View Metadata| Publication 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. 546 - Deduction of unpaid premiums |
| Contains | section 546 |
| 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, §406, as added Pub. L. 108-189, §1, Dec. 19, 2003, 117 Stat. 2853. |
| Statutes at Large References | 54 Stat. 1178, 1184 56 Stat. 775 62 Stat. 160 117 Stat. 2853 |
| Public Law References | Public Law 108-189 |
§546. Deduction of unpaid premiums (a) Settlement of proceeds
If a policy matures as a result of a servicemember's death or otherwise during the period of protection of the policy under this title [sections 541 to 549 of this Appendix], the insurer in making settlement shall deduct from the insurance proceeds the amount of the unpaid premiums guaranteed under this title, together with interest due at the rate fixed in the policy for policy loans.
(b) Interest rateIf the interest rate is not specifically fixed in the policy, the rate shall be the same as for policy loans in other policies issued by the insurer at the time the insured's policy was issued.
(c) Reporting requirementThe amount deducted under this section, if any, shall be reported by the insurer to the Secretary of Veterans Affairs.
(Oct. 17, 1940, ch. 888, title IV, §406, as added Pub. L. 108–189, §1, Dec. 19, 2003, 117 Stat. 2853.)
Prior ProvisionsA prior section 546, acts Oct. 17, 1940, ch. 888, art. IV, §406, 54 Stat. 1184; Oct. 6, 1942, ch. 581, §13, 56 Stat. 775; Apr. 3, 1948, ch. 170, §6, 62 Stat. 160, related to guaranty of premiums and interest by United States, settlement of amounts due upon expiration of protection, subrogation of United States, and crediting debt repayments, prior to the general amendment of this Act by Pub. L. 108–189. See section 547 of this Appendix.
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.
