38 USC 1926 - Authority for higher interest rates for amounts payable to beneficiaries
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Sec. 1926. Authority for higher interest rates for amounts payable to beneficiaries
Notwithstanding sections 1902, 1923, and 1925 of this title, if the beneficiary of an insurance policy receives the proceeds of such policy under a settlement option under which such proceeds are paid in equal monthly installments over a limited period of months, the interest that may be added to each such installment may be at a rate that is higher than the interest rate prescribed in the appropriate section of this subchapter. The Secretary may from time to time establish a higher interest rate under the preceding sentence only in accordance with a determination that such higher rate is administratively and actuarially sound for the program of insurance concerned. Any such higher interest rate shall be paid on the unpaid balance of such monthly installments.
Sections: 1920 1921 1922 1922A 1923 1924 1925 1926 1927 1928 1929 1940 1941 1942 1943
Last modified: July 21, 2011