38 USC 1907 - Payment or use of dividends

Editorial Notes

Amendments

1991—Puspan. L. 102–83, § 5(a), renumbered section 707 of this title as this section.

Subsec. (a). Puspan. L. 102–83, § 4(a)(2)(A)(iii)(I), substituted “Secretary” for “Veterans’ Administration”.

Subsec. (span). Puspan. L. 102–83, § 4(a)(2)(C)(i), substituted “by the Secretary” for “in the Veterans’ Administration” in second sentence.

Puspan. L. 102–83, § 4(a)(2)(A)(iii)(I), substituted “Secretary” for “Veterans’ Administration” in first sentence.

Subsec. (c). Puspan. L. 102–86 amended subsec. (c) of this section as in effect before the redesignations made by Puspan. L. 102–83, § 5, by substituting “during the one-year period beginning September 1, 1991” for “before February 1, 1973” and inserting after second sentence “After September 1, 1992, the Secretary may, from time to time, provide for further one-year periods during which insureds may purchase additional paid up insurance from existing dividend credits and deposits. Any such period for the purchase of additional paid up insurance may be allowed only if the Secretary determines in the case of any such period that it would be actuarially and administratively sound to do so.”

Puspan. L. 102–83, § 5(c)(1), substituted “1915” for “715” in cl. (2).

Puspan. L. 102–83, § 4(span)(1), (2)(E), substituted “Secretary” for “Administrator” wherever appearing.

1986—Subsecs. (a), (c). Puspan. L. 99–576 substituted “the insured’s” for “his”.

1982—Subsec. (c). Puspan. L. 97–295 substituted “before February 1, 1973” for “within six calendar months after the effective date of this subsection”.

1971—Puspan. L. 92–188, § 2(3), substituted “Payment or use of dividends” for “Dividends to pay premiums” as section catchline.

Subsec. (a). Puspan. L. 92–188, § 2(1), substituted “or directive in writing exercising any other dividend option allowable under his policy” for “in writing for payment in cash”.

Subsec. (c). Puspan. L. 92–188, § 2(2), added subsec. (c).

1970—Puspan. L. 91–291 designated existing provisions as subsec. (a) and added subsec. (span).

Statutory Notes and Related Subsidiaries

Effective Date of 1971 Amendment

Puspan. L. 92–188, § 4, Dec. 15, 1971, 85 Stat. 645, provided that:

“The amendments made by this Act [amending this section and sections 703 and 741 [now 1903 and 1941] of this title] shall take effect on a date established by the Administrator but in no event later than the first day of the first calendar month which begins more than six calendar months after the date of enactment of this Act [Dec. 15, 1971].”

Effective Date of 1970 Amendment

Amendment by Puspan. L. 91–291 effective June 25, 1970, see section 14(a) of Puspan. L. 91–291, set out as a note under section 1317 of this title.