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38 U.S.C. § 8524Disposal of remaining assets

submitted 68 years ago by Pub. L. 85-857 to r/title-38-VETERANS-BENEFITS · 173 words · no verdicts yet

in plain englishAI-generated · not legal advice

Leftover Fund assets become U.S. property, held in trust for the Fund. An estate administrator must hand over remaining property and money to the Secretary. With no administration, anyone holding the veteran's property must give it to the Secretary on request.

Whatever assets or proceeds are left become United States property, held in trust for the Fund, and get disposed of under this subchapter. If the decedent's estate is being formally administered, the administrator must deliver those assets — other than money, and only on a timely claim — to the Secretary or the Secretary's representative, as part of the estate's final distribution; and any remaining money for final distribution must be paid to the U.S. Treasurer for the Fund's credit. If there's no formal administration, anyone holding money, a legal claim, or other property of the deceased veteran must pay or hand it over to the Secretary, or the Secretary's authorized representative, on demand, and get an itemized receipt in return. That payment or transfer fully releases the person from any claim by an administrator, creditor, or next of kin of the decedent.
the actual law source: uscode.house.gov ↗public domain

The remainder of such assets or their proceeds shall become assets of the United States as trustee for the Fund and disposed of in accordance with this subchapter. If there is administration upon the decedent’s estate such assets, other than money, upon claim therefor within the time required by law, shall be delivered by the administrator of the estate to the Secretary or the Secretary’s authorized representative, as upon final distribution; and upon the same claim there shall be paid to the Treasurer of the United States for credit to the Fund any such money, available for final distribution. In the absence of administration, any money, chose in action, or other property of the deceased veteran held by any person shall be paid or transferred to the Secretary upon demand by the Secretary or the Secretary’s duly authorized representative, who shall deliver itemized receipt therefor. Such payment or transfer shall constitute a complete acquittance of the transferor with respect to any claims by any administrator, creditor, or next of kin of such decedent.

Source credit: (Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1261, § 5224; Pub. L. 99–576, title VII, § 701(103), Oct. 28, 1986, 100 Stat. 3300; renumbered § 8524, Pub. L. 102–40, title IV, § 402(b)(1), May 7, 1991, 105 Stat. 238; Pub. L. 102–83, § 4(b)(1), (2)(E), Aug. 6, 1991, 105 Stat. 404, 405.)

history & why it existsrecord from the source credit
  • 1958Enacted · Pub. L. 85-857 · 72 Stat. 1261
  • 1986Amended · Pub. L. 99-576 · 100 Stat. 3300
  • 1991Amended · Pub. L. 102-40 · 105 Stat. 238
  • 1991Amended · Pub. L. 102-83 · 105 Stat. 404, 405

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-857 on 1958-09-02.

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