§542. Form of application; reports to Secretary of Veterans Affairs by insurer; policy deemed modified upon application for protection

Any writing signed by the insured and identifying the policy and the insurer, and agreeing that his rights under the policy are subject to and modified by the provisions of this article [sections 540 to 548 of this Appendix], shall be sufficient as an application for the benefits of this article [said sections], but the Secretary of Veterans Affairs may require the insured and insurer to execute such other forms as may be deemed advisable. Upon receipt of the application of the insured the insurer shall furnish such report to the Secretary concerning the policy as shall be prescribed by regulations. The insured who has made application for protection under this article [said sections] and the insurer shall be deemed to have agreed to such modification of the policy as may be required to give this article [said sections] full force and effect with respect to such policy.

(Oct. 17, 1940, ch. 888, art. IV, §402, 54 Stat. 1183 ; Oct. 6, 1942, ch. 581, §13, 56 Stat. 774 ; Pub. L. 102–12, §9(13), Mar. 18, 1991, 105 Stat. 40 .)

Amendments

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

1942-Act Oct. 6, 1942, amended section generally, substituting provisions relating to form of application, reports to Veterans' Administration by insurer, and policy being deemed modified upon application for protection for provisions relating to persons entitled to benefits.

Section Referred to in Other Sections

This section is referred to in title 5 section 5569.