Determination
The Secretary of Veterans Affairs shall determine whether a policy is entitled to protection under this subchapter and shall notify the insured and the insurer of that determination.
Lapse protection
A policy that the Secretary determines is entitled to protection under this subchapter 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.
Time application
The protection provided by this subchapter applies during the insured’s period of military service and for a period of two years thereafter.
Oct. 17, 1940, ch. 888 Pub. L. 108–189, § 1117 Stat. 2853 (, title IV, § 404, as added , , .)
Editorial Notes
Codification
Section was formerly classified to section 544 of the former Appendix to this title prior to editorial reclassification and renumbering as this section.
Prior Provisions
act Oct. 17, 1940, ch. 888 54 Stat. 1184 Oct. 6, 1942, ch. 581, § 13 56 Stat. 775 Pub. L. 102–12, § 9(15)105 Stat. 40 Pub. L. 108–189section 3975 of this titleA prior section 404 of , art. IV, ; , ; , , , related to restrictions on payment of dividends and insured’s right to change beneficiary, prior to the general amendment of this Act by . See .
Statutory Notes and Related Subsidiaries
Effective Date
section 3 of Pub. L. 108–189section 3901 of this titleSection applicable to any case not final before , see , set out as a note under .