2013 US Code
Title 38 - Veterans’ Benefits
Part II - GENERAL BENEFITS (§§ 1101 - 2414)
Chapter 19 - INSURANCE (§§ 1901 - 1988)
Subchapter III - SERVICEMEMBERS' GROUP LIFE INSURANCE (§§ 1965 - 1980A)
Section 1966 - Eligible insurance companies
Publication Title | United States Code, 2012 Edition, Supplement 1, Title 38 - VETERANS' BENEFITS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 38 - VETERANS' BENEFITS PART II - GENERAL BENEFITS CHAPTER 19 - INSURANCE SUBCHAPTER III - SERVICEMEMBERS' GROUP LIFE INSURANCE Sec. 1966 - Eligible insurance companies |
Contains | section 1966 |
Date | 2013 |
Laws in Effect as of Date | January 16, 2014 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Added Pub. L. 89-214, §1(a), Sept. 29, 1965, 79 Stat. 880, §766; amended Pub. L. 97-295, §4(29), Oct. 12, 1982, 96 Stat. 1307; Pub. L. 99-576, title VII, §701(36), Oct. 28, 1986, 100 Stat. 3293; renumbered §1966 and amended Pub. L. 102-83, §§4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404-406; Pub. L. 111-350, §5(j)(2), Jan. 4, 2011, 124 Stat. 3850. |
Statutes at Large References | 79 Stat. 880 96 Stat. 1307 100 Stat. 3293 105 Stat. 404-406 124 Stat. 3850 |
Public Law References | Public Law 89-214, Public Law 97-295, Public Law 99-576, Public Law 102-83, Public Law 111-350 |
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(a) 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.
(b) 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.
(c) 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.
(d) The Secretary may at any time discontinue any policy or policies which the Secretary has purchased from any insurance company under this subchapter.
(Added Pub. L. 89–214, §1(a), Sept. 29, 1965, 79 Stat. 880, §766; amended Pub. L. 97–295, §4(29), Oct. 12, 1982, 96 Stat. 1307; Pub. L. 99–576, title VII, §701(36), Oct. 28, 1986, 100 Stat. 3293; renumbered §1966 and amended Pub. L. 102–83, §§4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404–406; Pub. L. 111–350, §5(j)(2), Jan. 4, 2011, 124 Stat. 3850.)
AMENDMENTS2011—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".
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