[Federal Register Volume 59, Number 223 (Monday, November 21, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-28604]


[[Page Unknown]]

[Federal Register: November 21, 1994]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF VETERANS AFFAIRS

38 CFR Part 8a

RIN 2900-AG36

 

Veterans Mortgage Life Insurance

AGENCY: Department of Veterans Affairs.

ACTION: Final regulations.

-----------------------------------------------------------------------

SUMMARY: This document amends the Department of Veterans Affairs 
regulations regarding Veterans Mortgage Life Insurance (VMLI) to 
reflect that the statutory maximum amount of coverage available under 
the VMLI program has been increased to $90,000. This amendment is 
necessary to conform the regulations to statutory provisions.

EFFECTIVE DATE: December 1, 1992.

FOR FURTHER INFORMATION CONTACT:
Mr. Gregory C. Hosmer, Senior Insurance Specialist/Attorney, Department 
of Veterans Affairs Regional Office and Insurance Center, P.O. Box 
8079, Philadelphia, Pennsylvania 19101, (215) 951-5710.

SUPPLEMENTARY INFORMATION: Section 204 of the ``Veterans' Benefits Act 
of 1992'', Public Law 102-568, amended 38 U.S.C. 2106 to provide for an 
increase from $40,000 to $90,000 in the maximum amount of coverage 
available under the VMLI, effective December 1, 1992. This amendment to 
regulations merely reflects the statutory change.
    VA has determined that prior publication for notice and public 
comment is unnecessary since the amendments merely reflect statutory 
changes and are not subject to rule-making requirements.
    The Secretary of Veterans Affairs hereby certifies that these final 
regulations will not have a significant impact on a substantial number 
of small entities as they are defined in the Regulatory Flexibility Act 
(RFA), 5 U.S.C. 601-612. The reason for this certification is that 
these final regulations merely reflect statutory changes.

    The Catalog of Federal Domestic Assistance Program number for 
these regulations is 64.103.

List of Subjects in 38 CFR Part 8a

    Veterans' Mortgage Life Insurance.

    Approved: November 8, 1994.
Jesse Brown,
Secretary of Veterans Affairs.

    For the reasons set out in the preamble, 38 CFR part 8a is amended 
as set forth below:

PART 8a--VETERANS' MORTGAGE LIFE INSURANCE

    1. The authority citation for Part 8a continues to read as follows:

    Authority: 72 Stat. 1114; 85 Stat. 320; 38 U.S.C. 501, 2106, 
unless otherwise noted.


Secs. 8a.2 and 8a.4  [Amended]

    2. In paragraphs 8a.2(a), 8a.2(b)(1) and 8a.4 the term ``$40,000'' 
is removed wherever it appears and the term ``$90,000'' is added in 
place thereof.
    3. The following sentence is added at the end of paragraph 
8a.2(b)(7):
* * * * *
    (b) * * *
    (7) * * * All claims, arising out of the deaths of insured veterans 
occurring on or after October 1, 1976, but prior to December 1, 1992, 
shall be subject to the $40,000 lifetime maximum amount of insurance 
then in effect.

[FR Doc. 94-28604 Filed 11-18-94; 8:45 am]
BILLING CODE 8320-01-M