§543. Determination of policies entitled to protection; notice to parties; lapse of policies for nonpayment of premiums, etc.

The Secretary of Veterans Affairs shall find whether the policy is entitled to protection under this article [sections 540 to 548 of this Appendix] and shall notify the insured and the insurer of such finding. Any policy found by the Secretary to be entitled to protection under this article [said sections] shall not, subsequent to date of application, and during the period of military service of the insured or during two years after the expiration of such service, lapse or otherwise terminate or be forfeited for the nonpayment of a premium becoming due and payable, or the nonpayment of any indebtedness or interest.

(Oct. 17, 1940, ch. 888, art. IV, §403, 54 Stat. 1184 ; Oct. 6, 1942, ch. 581, §13, 56 Stat. 775 ; Pub. L. 102–12, §9(14), Mar. 18, 1991, 105 Stat. 40 .)

Amendments

1991-Pub. L. 102–12 substituted "Secretary of Veterans Affairs" for "Administrator of Veterans' Affairs" in first sentence and "Secretary" for "Administrator of Veterans' Affairs" in second sentence.

1942-Act Oct. 6, 1942, amended section generally, substituting provisions relating to determining entitlement to protection, notice, and lapse of policies for nonpayment of premiums for provisions relating to list of applicants for benefits and rejection of improper applications.

Section Referred to in Other Sections

This section is referred to in title 5 section 5569.