US Code

Public Law 119-102 (07/12/2026)

38 U.S.C. § 1966

Eligible insurance companies

Section text and notes

(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.

Pub. L. 89–214, § 1(a)79 Stat. 880 Pub. L. 97–295, § 4(29)96 Stat. 1307 Pub. L. 99–576, title VII, § 701(36)100 Stat. 3293 Pub. L. 102–83105 Stat. 404–406 Pub. L. 111–350, § 5(j)(2)124 Stat. 3850 (Added , , , § 766; amended , , ; , , ; renumbered § 1966 and amended , §§ 4(b)(1), (2)(E), 5(a), , ; , , .)

Editorial Notes

Amendments

Pub. L. 111–35041 U.S.C. 52011—Subsec. (a). substituted “section 6101(b) to (d) of title 41” for “section 3709 of the Revised Statutes, as amended ()”.

Pub. L. 102–83section 766 of this title1991— renumbered as this section and substituted “Secretary” for “Administrator” wherever appearing.

Pub. L. 99–576, § 701(36)(A)1986—Subsec. (c). , substituted “the Administrator” for “him”.

Pub. L. 99–576, § 701(36)(B)Subsec. (d). , substituted “the Administrator” for “he”.

Pub. L. 97–2951982—Subsec. (a). substituted “percent” for “per centum”.