2022—Subsec. (a). Pub. L. 117–313, § 3(a), added subsec. (a) and struck out former subsec. (a) which read as follows: “The insured shall have the right to designate the beneficiary or beneficiaries of insurance maturing on or after August 1, 1946, and shall, subject to regulations, at all times have the right to change the beneficiary or beneficiaries of such insurance without the consent of such beneficiary or beneficiaries.”

Subsec. (f)(1)(A). Pub. L. 117–313, § 2(a)(1), substituted “one year” for “two years”.

Subsec. (f)(1)(B). Pub. L. 117–313, § 2(a)(2), substituted “two years” for “four years”.

2003—Subsec. (f). Pub. L. 108–183 added subsec. (f).

1991—Pub. L. 102–83 renumbered section 717 of this title as this section and substituted “Secretary” for “Administrator” in subsec. (e).

1981—Subsec. (c). Pub. L. 97–66 substituted “Except as provided in the second and third sentences of this subsection, unless” for “Unless” and inserted provision that, 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.

1970—Subsec. (c). Pub. L. 91–291 struck out provision that options (3) and (4) were not available in cases where the endowment contract matured by reason of the completion of the endowment period.

Subsec. (e). Pub. L. 91–291 added subsec. (e).

Pub. L. 117–313, § 2(c), Dec. 27, 2022, 136 Stat. 4399, provided that: “The amendments made by this section [amending this section and section 1952 of this title] shall apply with respect to the death of an insured person occurring on or after the date that is two years before the date of the enactment of this Act [Dec. 27, 2022].”

Pub. L. 117–313, § 3(c), Dec. 27, 2022, 136 Stat. 4400, provided that: “The amendments made by this section [amending this section and section 1949 of this title] shall apply with respect to the death of an insured person occurring on or after the date that is two years before the date of the enactment of this Act [Dec. 27, 2022].”

Pub. L. 108–183, title I, § 103(c), Dec. 16, 2003, 117 Stat. 2655, provided that: “The amendments made by subsections (a) and (b) [amending this section and section 1952 of this title] shall take effect on October 1, 2004.”

Amendment by Pub. L. 97–66 effective Oct. 17, 1981, see section 701(b)(1) of Pub. L. 97–66, set out as a note under section 1114 of this title.

Amendment by Pub. L. 91–291 effective first day of first calendar month which begins more than six calendar months after June 25, 1970, see section 14(a) of Pub. L. 91–291, set out as a note under section 1317 of this title.

Pub. L. 108–183, title I, § 103(d), Dec. 16, 2003, 117 Stat. 2655, provided that: “In the case of a person insured under subchapter I or II of chapter 19 of title 38, United States Code, who dies before the effective date of the amendments made by subsections (a) and (b), as specified by subsection (c) [set out as an Effective Date of 2003 Amendment note above], the two-year and four-year periods specified in subsection (f)(1) of section 1917 of title 38, United States Code, as added by subsection (a), and subsection (c)(1) of section 1952 of such title, as added by subsection (b), as applicable, shall for purposes of the applicable subsection be treated as being the two-year and four-year periods, respectively, beginning on the effective date of such amendments, as so specified.”