Page:United States Statutes at Large Volume 43 Part 1.djvu/156

 SIXTY·EIGHTH CONGRESS. Sess. I. Ch. 157. 1924. 125 nxnurrrox mom Arracnunur AND TAXATION. E¤¤¤¤v*i¤¤¤— Sec. 308. No sum payable under this Act to a veteran or his mfiums ¤¤Y¤bl¤ heredependents, or to his estate, or to any beneficiary named under Title attaihmgdlfllliiamiigx V, no adjusted service certincate, and no proceeds of any loan made °t°‘ on such certificate, shall be subject to attachment, levy, or seizure imder any legal or equitable process, or to National or State taxation. Uxnawrm. Fans. U¤l°"‘¤*'°<**· Sec. 309. Any person who charges or collects, or attempts to mP*g:¤¤¤=¤¤¤*¤*¤¤¤¤¤· charge or collect, either directly or indirectly, any fee or other ' compensation for assisting in any manner a veteran or his dependents in obtaining any of the benefits, rivileges, or loans to which he is entitled under the provisions of) this Act shall, upon conviction thereof, be subject to a fine of not more than $500, or imprisonment for not more than one year, or both. ‘ 'I`rr1.n IV.—AnJUsrm> Snnvicn PAY. "°’“"°d’°""“’°p“’· Sec. 401. There shall be paid to each veteran by the Director ,,;'§‘},§“,§,‘§d{§°,{§}"§,§f (as soon as practicable after receipt of an application in accordance $5};,., PMS, mz with the provisions of section 302, but not before March 1, 1925), ’ ' ID addition to any other amounts due such veteran in pursuance of law, the amonmt of his adjusted service credit, if, and only if, such credit is not more than $50. No i t, Bm Sec. 402. No right to adjusted service pay under the provisions mmm. ' of this title shall be assignable or serve as security for any loan. Any assignment or loan made in violation of the provisions of this section shall be held void. Except as rovided in Title VI, the m,f:‘Yg}’$,‘g,gf1‘({Bf1Q'°" Director shall not pay the amount of adijusted service pay to any PM p-128. ` person other than the veteran or such representative of the veteran as he shall by regulation prescribe. Trrnn V.-—A¤.ms·rnn Snavrcn Cnnrmicarns. ,,j*c§’,§,ff°" °°"*°° °°" Sec. 501. The Director, upon certification from the Secretary of I’°“° °‘• °“"‘°"'°d War or the Secretary of the Navy, as provided in section 303, is ‘°X3·‘f$§£"“°"‘ hereby directed to issue without cost to the veteran designated therein a non-participating adjusted service certihcate (hereinafter in this title re erred to as a " certificate ") of a face value equal to {QQ ,';f,‘§,‘;,§{,’,§‘§‘}§ the amount in dollars of 20-year endowment insurance that the ¤¤¤¤¤¤· amount of his adjusted service credit increased by 25 per centum would purchase, at his age on his birthday nearest the date of the certificate, if applied as a net single premium, calculated in C¤*¤¤1¤¢i¤¤· accordance with accepted actuarial principles and based upon the American Experience Table of Mortality and interest at 4 per centum per annum, compounded annually. The certificate shall be m°°“" °“°°’°t°‘ dated, and all rights conferred under the provisions of this title shall take effect, as of the lst day of the month in which the application is filed, but in no case before January 1, 1925. The veteran shall name the beneficiary of the certificate and may from time to time, with the approval of the Director, change such myammmwm, beneficiary. The amount of the face value of the certificate (except as rovided in subdivisions (c), (d), (e), and (f) of section 502) shall iis payable out of the fund created by section 505 (1) to T hmmm Q_ the veteran twenty years after the date of the certificate, or (2) upon ¤¤»°¤rm¤m. 'U the death of the veteran prior to the expiration of such twenty-year period, to the beneficiary named; except that if such bene ciary dies before the veteran and no new beneficiary is named, or if