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50 U.S.C. § 3973 — Application for insurance protection

submitted 86 years ago by Pub. L. 108-189 to r/title-50-WAR-AND-NATIONAL-DEFENSE · 166 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about Application for insurance protection. It states the specific requirements, rights, duties, and limits that apply to this subject.

(a) Application procedure An application for protection under this subchapter must—
(1) be in writing and signed by the insured, the insured’s legal representative, or the insured’s beneficiary, as the case may be.
(2) identify the policy and the insurer. and
(3) include an acknowledgement that the insured’s rights under the policy are subject to and modified by the provisions of this subchapter.
(b) Additional requirements The Secretary of Veterans Affairs may require additional information from the applicant, the insured and the insurer to determine if the policy is entitled to protection under this subchapter.
(c) Notice to the Secretary by the insurer Upon receipt of the application of the insured, the insurer must furnish a report concerning the policy to the Secretary of Veterans Affairs as required by regulations prescribed by the Secretary.
(d) Policy modification Upon application for protection under this subchapter, the insured and the insurer must have constructively agreed to any policy modification necessary to give this title full force and effect.

the actual law source: uscode.house.gov ↗public domain
(a) Application procedure

An application for protection under this subchapter shall—

(1)

be in writing and signed by the insured, the insured’s legal representative, or the insured’s beneficiary, as the case may be;

(2)

identify the policy and the insurer; and

(3)

include an acknowledgement that the insured’s rights under the policy are subject to and modified by the provisions of this subchapter.

(b) Additional requirements

The Secretary of Veterans Affairs may require additional information from the applicant, the insured and the insurer to determine if the policy is entitled to protection under this subchapter.

(c) Notice to the Secretary by the insurer

Upon receipt of the application of the insured, the insurer shall furnish a report concerning the policy to the Secretary of Veterans Affairs as required by regulations prescribed by the Secretary.

(d) Policy modification

Upon application for protection under this subchapter, the insured and the insurer shall have constructively agreed to any policy modification necessary to give this title full force and effect.

Source credit: (Oct. 17, 1940, ch. 888, title IV, § 403, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2852.)

history & why it existsrecord from the source credit
  • 1940Enacted · Pub. L. 108-189 · 117 Stat. 2852

A history note hasn’t been published yet. The record shows enactment by Pub. L. 108-189 on 1940-10-17.

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