Page:United States Statutes at Large Volume 95.djvu/1057

 PUBLIC LAW 97-66—OCT. 17, 1981

95 STAT. 1031

"(A) is insured under this subchapter on the effective date of this subsection; or "(B) within one year after the effective date of this subsection, reinstates insurance under this subchapter that had lapsed for nonpayment of premiums; and "(2) the member submits a written application for the increased coverage to the office established pursuant to section 766(b) of this title within one year after the effective date of this subsection.", (b) Section 777(a) is amended— 38 USC 777. (1) by striking out "or $20,000" in the first sentence and inserting in lieu thereof "$20,000, $25,000, $30,000, or $35,000"; (2) by striking out "$20,000" in the second sentence and inserting in lieu thereof "$35,000"; and (3) by striking out "$20,000" both places it appears in the fourth sentence and inserting in lieu thereof "$35,000". COLLECTION OF AMOUNTS FOR SERVICEMEN'S GROUP LIFE INSURANCE PROGRAM

SEC 402. Section 769 is amended by adding at the end the following ^^^^°^new subsection: ^^ use 769. "(f) The Secretary of Defense shall prescribe regulations for the administration of the functions of the Secretaries of the military departments under this section. Such regulations shall prescribe such procedures as the Secretary of Defense, after consultation with the Administrator, may consider necessary to ensure that such functions are carried out in a timely and complete manner and in accordance with the provisions of this section, mcluding specifically the provisions of subsection (a)(2) of this section relating to contributions from appropriations made for active duty pay.". B E N E F I C I A R Y ' S R I G H T TO ELECT ONE-SUM PAYMENT

SEC. 403. (a) Section 717(c) is amended— 38 USC 7i7. (1) by striking out "Unless" in the first sentence and inserting in lieu thereof "Except as provided in the second and third sentences of this subsection, unless"; and (2) by inserting the following new sentence after the second sentence: "In the case of insurance maturing after September 30, 1981, and for which no option has been elected by the insured, the first beneficiary may elect to receive payment in one sum.". (b) Section 752(a) is amended by adding at the end the following 38 USC 752. new sentence: "Notwithstanding any provision to the contrary in any insurance contract, the beneficiary may, in the case of insurance maturing after September 30, 1981, and for which the insured has not exercised the right of election of the insured as provided in this subchapter, elect to receive payment of the insurance in one sum.". TITLE V—VETERANS' ADMINISTRATION HOUSING BENEFITS ESTABLISHMENT OF GRADUATED-PAYMENT PLANS IN VETERANS* ADMINISTRATION LOAN GUARANTY PROGRAM

SEC. 501. (a) Section 1803(d)(2) is amended— (1) by inserting "(A)" after "(2)"; and (2) by adding at the end the following new subparagraphs:

89-194 0—82

67:QL3

38 USC 1803.

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