[Code of Federal Regulations]
[Title 38, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 38CFR11.84]

[Page 543]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
                CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS
 
PART 11_LOANS BY BANKS ON AND PAYMENT OF ADJUSTED SERVICE 
 
Sec.  11.84  Redemption because of veteran's death.

    If the veteran dies before the maturity of the loan, the amount of 
the unpaid principal and the unpaid interest shall be immediately due 
and payable. In such case, or if the veteran dies on the day the loan 
matures or within six months thereafter, the bank holding the note and 
certificate shall, upon notice of the death, present them to the 
Secretary, who shall pay to the bank, in full satisfaction of its claim 
the amount of the unpaid principal and unpaid interest, at the rate 
authorized by the World War Adjusted Compensation Act, as amended, 
accrued up to the date of the check issued to the bank; except that if, 
prior to the payment, the bank is notified of the death by the Secretary 
and fails to present the certificate and note to the Secretary within 15 
days after the notice such interest shall be paid only up to the 
fifteenth day after such notice.