2012 US Code
Title 50 - War and National Defense
Appendix (§§ 1 - 2420)
SERVICEMEMBERS CIVIL RELIEF ACT (§§ 501 - 597b)
ACT OCT. 17, 1940, CH. 888, 54 STAT. 1178 (§§ 501 - 597b)
Title III - RENT, INSTALLMENT CONTRACTS, MORTGAGES, LIENS, ASSIGNMENT, LEASES, TELEPHONE SERVICE CONTRACTS (§§ 531 - 538)
Section 536 - Protection of life insurance policy
| Publication Title | United States Code, 2012 Edition, 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 III - RENT, INSTALLMENT CONTRACTS, MORTGAGES, LIENS, ASSIGNMENT, LEASES, TELEPHONE SERVICE CONTRACTS Sec. 536 - Protection of life insurance policy |
| Contains | section 536 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Oct. 17, 1940, ch. 888, title III, §306, as added Pub. L. 108-189, §1, Dec. 19, 2003, 117 Stat. 2850; amended Pub. L. 111-275, title III, §303(b)(6), Oct. 13, 2010, 124 Stat. 2878. |
| Statutes at Large References | 54 Stat. 1178 56 Stat. 773 117 Stat. 2850 124 Stat. 2878 |
| Public Law References | Public Law 108-189, Public Law 111-275 |
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If a life insurance policy on the life of a servicemember is assigned before military service to secure the payment of an obligation, the assignee of the policy (except the insurer in connection with a policy loan) may not exercise, during a period of military service of the servicemember or within one year thereafter, any right or option obtained under the assignment without a court order.
(b) ExceptionThe prohibition in subsection (a) shall not apply—
(1) if the assignee has the written consent of the insured made during the period described in subsection (a);
(2) when the premiums on the policy are due and unpaid; or
(3) upon the death of the insured.
(c) Order refused because of material affectA court which receives an application for an order required under subsection (a) may refuse to grant such order if the court determines the ability of the servicemember to comply with the terms of the obligation is materially affected by military service.
(d) Treatment of guaranteed premiumsFor purposes of this subsection, premiums guaranteed under the provisions of title IV of this Act [sections 541 to 549 of this Appendix] shall not be considered due and unpaid.
(e) MisdemeanorA person who knowingly takes an action contrary to this section, or attempts to do so, shall be fined as provided in title 18, United States Code, or imprisoned for not more than one year, or both.
(Oct. 17, 1940, ch. 888, title III, §306, as added Pub. L. 108–189, §1, Dec. 19, 2003, 117 Stat. 2850; amended Pub. L. 111–275, title III, §303(b)(6), Oct. 13, 2010, 124 Stat. 2878.)
Prior ProvisionsA prior section 536, act Oct. 17, 1940, ch. 888, art. III, §306, as added Oct. 6, 1942, ch. 581, §12, 56 Stat. 773, related to extension of benefits to dependents, prior to the general amendment of this Act by Pub. L. 108–189. See section 538 of this Appendix.
Amendments2010—Subsec. (e). Pub. L. 111–275 amended subsec. (e) generally. Prior to amendment, subsec. (e) related to penalties.
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