United States Code (Last Updated: May 24, 2014) |
AppendixAA 50a. WAR AND NATIONAL DEFENSE |
Level SERVICEMEMBERS CIVIL RELIEF ACT |
CompiledAct ACT OCT. 17, 1940, CH. 888, 54 STAT. 1178 |
Title IV. LIFE INSURANCE |
§ 544. Policies entitled to protection and lapse of policies
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(a) Determination The Secretary of Veterans Affairs shall determine whether a policy is entitled to protection under this title [sections 541 to 549 of this Appendix] and shall notify the insured and the insurer of that determination.
(b) Lapse protection A policy that the Secretary determines is entitled to protection under this title [sections 541 to 549 of this Appendix] shall not lapse or otherwise terminate or be forfeited for the nonpayment of a premium, or interest or indebtedness on a premium, after the date on which the application for protection is received by the Secretary.
(c) Time application The protection provided by this title [sections 541 to 549 of this Appendix] applies during the insured’s period of military service and for a period of two years thereafter.
Prior Provisions
A prior section 544, acts Oct. 17, 1940, ch. 888, art. IV, § 404, 54 Stat. 1184; Oct. 6, 1942, ch. 581, § 13, 56 Stat. 775; Pub. L. 102–12, § 9(15),