42 U.S.C. § 292m — Repayment by Secretary of loans of deceased or disabled borrowers

submitted 82 years ago by Pub. L. 102-408 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 53 words · no verdicts yet

in plain englishAI-generated · not legal advice

If a borrower dies or becomes permanently and totally disabled, the government cancels their loan debt. The Secretary pays off what's owed using money from the insurance account.

If a borrower who received one of these loans dies, or becomes permanently and totally disabled (as decided under the Secretary's regulations), the Secretary must cancel the borrower's debt on that loan — by paying off the amount owed, using money from the account set up under section 292i of this title.

the actual law source: uscode.house.gov ↗public domain

If a borrower who has received a loan dies or becomes permanently and totally disabled (as determined in accordance with regulations of the Secretary), the Secretary shall discharge the borrower’s liability on the loan by repaying the amount owed on the loan from the account established under section 292i of this title.

Source credit: (July 1, 1944, ch. 373, title VII, § 714, as added Pub. L. 102–408, title I, § 102, Oct. 13, 1992, 106 Stat. 2008.)

history & why it existsrecord from the source credit

1944Enacted · Pub. L. 102-408 · 106 Stat. 2008

A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-408 on 1944-07-01.

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