
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 38USC1963]

 
                      TITLE 38--VETERANS' BENEFITS
 
                        PART II--GENERAL BENEFITS
 
                          CHAPTER 19--INSURANCE
 
         SUBCHAPTER II--UNITED STATES GOVERNMENT LIFE INSURANCE
 
Sec. 1963. Authority for payment of interest on settlements

    (a) Subject to subsection (b) of this section, the Secretary may pay 
interest on the proceeds of a United States Government Life Insurance 
policy from the date the policy matures to the date of payment of the 
proceeds to the beneficiary or, in the case of an endowment policy, to 
the policyholder.
    (b)(1) The Secretary may pay interest under subsection (a) of this 
section only if the Secretary determines that the payment of such 
interest is administratively and actuarially sound for the settlement 
option involved.
    (2) Interest paid under subsection (a) shall be at the rate that is 
established by the Secretary for dividends held on credit or deposit in 
policyholders' accounts.

(Added Pub. L. 100-687, div. B, title XIV, Sec. 1401(a)(2), Nov. 18, 
1988, 102 Stat. 4128, Sec. 763; renumbered Sec. 1963 and amended Pub. L. 
102-83, Secs. 4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404-406.)


                               Amendments

    1991--Pub. L. 102-83 renumbered section 763 of this title as this 
section and substituted ``Secretary'' for ``Administrator'' wherever 
appearing.


                             Effective Date

    Section effective with respect to insurance policies maturing after 
Nov. 18, 1988, see section 1401(a)(3) of Pub. L. 100-687, set out as a 
note under section 1928 of this title.
