§3224. Death of participant

In the event of a participant's death, the amount of such participant's unused contributions to the fund shall be paid to the living person or persons first listed below:

(1) The beneficiary or beneficiaries designated by such participant under such participant's Servicemembers' Group Life Insurance policy.

(2) The surviving spouse of the participant.

(3) The surviving child or children of the participant, in equal shares.

(4) The surviving parent or parents of the participant, in equal shares.

If there is no such person living, such amount shall be paid to such participant's estate.

(Added Pub. L. 94–502, title IV, §404, Oct. 15, 1976, 90 Stat. 2395 , §1624; amended Pub. L. 96–466, title IV, §402, Oct. 17, 1980, 94 Stat. 2201 ; renumbered §3224, Pub. L. 102–83, §5(a), Aug. 6, 1991, 105 Stat. 406 ; Pub. L. 104–275, title IV, §405(c)(2), Oct. 9, 1996, 110 Stat. 3340 .)

Editorial Notes

Amendments

1996-Par. (1). Pub. L. 104–275 substituted "Servicemembers' Group" for "Servicemen's Group".

1991-Pub. L. 102–83 renumbered section 1624 of this title as this section.

1980-Pub. L. 96–466 expanded provisions to require payment of a participant's unused contributions to the fund to the surviving spouse, the surviving child or children, or to the surviving parent or parents before payment of such amount to the participant's estate.

Statutory Notes and Related Subsidiaries

Effective Date of 1980 Amendment

Pub. L. 96–466, title VIII, §802(d)(2), Oct. 17, 1980, 94 Stat. 2218 , provided that: "The amendments made by sections 402 through 406 [amending this section and sections 1622, 1631, and 1641 [now 3222, 3231, and 3241] of this title] shall become effective on October 1, 1980."

Effective Date

Section effective Jan. 1, 1977, see section 406 of Pub. L. 94–502, set out as a note under section 3201 of this title.