section 1944(b) of this titleNotwithstanding , if the beneficiary of an insurance policy issued under the provisions of this subchapter receives the proceeds of such policy under a settlement option under which such proceeds are paid in equal monthly installments over a limited period of months, the interest that may be added to each such installment may be at a rate that is higher than the interest rate prescribed in such section. The Secretary may from time to time establish a higher interest rate under the preceding sentence only in accordance with a determination that such higher rate is administratively and actuarially sound. Any such higher interest rate shall be paid on the unpaid balance of such monthly installments.
Pub. L. 96–128, title III, § 303(a)93 Stat. 986 Pub. L. 102–83105 Stat. 404–406 (Added , , , § 761; renumbered § 1961 and amended , §§ 4(b)(1), (2)(E), 5(a), (c)(1), , .)
Editorial Notes
Amendments
Pub. L. 102–83, § 5(a)section 761 of this title1991—, renumbered as this section.
Pub. L. 102–83, § 5(c)(1), substituted “1944(b)” for “744(b)”.
Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”.
Statutory Notes and Related Subsidiaries
Effective Date
section 601(b) of Pub. L. 96–128section 1114 of this titleSection effective , see , set out as an Effective Date of 1979 Amendment note under .