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38 U.S.C. § 3224 — Death of participant

submitted 50 years ago by Pub. L. 94-502 to r/title-38-VETERANS-BENEFITS · 93 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets the order for paying a deceased participant’s unused contributions. Payment goes first to a designated life-insurance beneficiary, then to specified surviving family members, and finally to the estate if no listed person is living.

If a participant dies, the participant’s unused contributions to the fund must be paid to the first living person or persons in this order: (1) the beneficiary or beneficiaries the participant named under the participant’s Servicemembers’ Group Life Insurance policy; (2) the surviving spouse; (3) the surviving children, in equal shares; and (4) the surviving parents, in equal shares. If no listed person is living, the money must be paid to the participant’s estate.
the actual law source: uscode.house.gov ↗public domain

In the event of a participant’s death, the amount of such participant’s unused contributions to the fund shall be paid to the living person or persons first listed below:

(1)

The beneficiary or beneficiaries designated by such participant under such participant’s Servicemembers’ Group Life Insurance policy.

(2)

The surviving spouse of the participant.

(3)

The surviving child or children of the participant, in equal shares.

(4)

The surviving parent or parents of the participant, in equal shares.

If there is no such person living, such amount shall be paid to such participant’s estate.

Source credit: (Added Pub. L. 94–502, title IV, § 404, Oct. 15, 1976, 90 Stat. 2395, § 1624; amended Pub. L. 96–466, title IV, § 402, Oct. 17, 1980, 94 Stat. 2201; renumbered § 3224, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406; Pub. L. 104–275, title IV, § 405(c)(2), Oct. 9, 1996, 110 Stat. 3340.)

history & why it existsrecord from the source credit
  • 1976Enacted · Pub. L. 94-502 · 90 Stat. 2395
  • 1980Amended · Pub. L. 96-466 · 94 Stat. 2201
  • 1991Amended · Pub. L. 102-83 · 105 Stat. 406
  • 1996Amended · Pub. L. 104-275 · 110 Stat. 3340

A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-502 on 1976-10-15.

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