Veterans Insurance Amendments Act of 1979

Summary

Veterans' Insurance Amendments of 1979 - Title I: Assignments and Attorneys' Fees - Permits resolution of conflicting claims to the proceeds of National Service Life Insurance and United States Government Life Insurance policies by means of unrestricted assignment of all or part of such proceeds (presently limited to a specified class of people). Permits a claimant to whom insurance proceeds would be paid under an assignment to assign a part of such proceeds as attorneys' fees. Limits such assignment to the lesser of ten percent of the claimant's proceeds, or the amount payable as a fee pursuant to an agreement between such claimant and his or her attorney. Increases from ten to 25 percent the attorneys' fee limitation on an insurance judgment successfully brought against the Veterans' Administration. Authorizes the court to determine attorneys' fees in cases where the insurance proceeds were paid prior to commencement of litigation. Limits such a fee to 25 percent of the disputed proceeds, and provides for its payment by the successful party or his or her attorney. Prohibits the payment of any other fees to an attorney under such circumstances. Title II: Dividends - Authorizes the payment of dividends and refunds of unearned premiums in the Veterans' Reopened Insurance Fund in the United States Treasury. Title III: Flexible Interest Rates - Authorizes the Administrator of Veterans' Affairs to use a flexible interest rate in computing monthly installments of National Service Life Insurance and United States Government Life Insurance proceeds to a beneficiary under a settlement option providing from 36 to 240 monthly installments. Title IV: Effective Date - States that the provisions of this Act shall take effect as of the date of enactment of this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 March 1979

   Introduced

   Referred to Senate Committee on Veterans' Affairs.

   Source: IntroReferral

2. 26 March 1979

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 26 March 1979

  Open at official source

Sponsors

• Sen. Cranston, Alan [D-CA] · D · Sponsor
• · ssva00 · Standing

Related records

• related to → Veterans Insurance Amendments Act of 1979