The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-03-07
FIEBI DRAFT
Confined don ! a.. ! os.,s

4 80 FNOonL4uat4s 4fpD apAEtg OIL 49, "
crued at the rate fixed BY the notc
to date Of check issued to the bank.
The difference between so per cen.
tum Of the loan, basis Of the certlfi.
cate at the time Of It's receipt ,bYI
the secretary and the amount sol
paid to the bank shah be inmedi.
ately paid by the secretary to the
veteran, II living. In case Of the
veterans death after the expira.
ton Of the six months after the ma
tririty Of the loan or in the case Of
his death after September 80, 1895,
such difference shall be paid toI
the beneficiary under the certificate
except that II such beneficiary dies
before the veteran and no new ben.
eticiary Is named, or II the bene.
ficiary is named, or II the benefl
ciary In the first instance has not
yet been named, then the payment
shall be made to the estate OF the
veteran.
"(D)-1f the veteran dies before
the principal is due the unpaid
principal and unpaid interest &C.
crued as to the date OF his death
shall be Immediately due and pay.
able. In such case or II the vet
eran dies after the principal is due
but before the expiration Of six
months after the principal Is due or
before October IS, 1926, the bank
shall upon notice OF death present
the certificate and note TO the sec
rotary who shall cancel the note
and pay the bank in full its claira
the amount Of the unpaid principal
and interest, at the rate fixed ir
the note. accrued to the date Of the
check issued to the bank; except
that II prior TO the payment the
bank is notified Of the death by the
secretary Of the treasury and fails
to present the certificate and not
to the secretary within Is days
after notice, such notice shall be
only up to the 18th day after such
notice. The secretary shall deduct
the amount SO paid from the face
value Gas determined under sec
tion 501) Of the certificate.
"(E)-When any loan is In de.
fault the bank shall within 30 daya
notify the secretary Of the treasury
OF the facts relative to the note,
name of veteran and number Of his
certificate.
"(F)-The loan basis OF any Ger.
tificate at any time shall for the
purpose OF this section he the
amount Of the adjusted service
credit plus interest thereon from
October L. 1922, to such time, AZ
the rate Of Az per centum per an
mum compounded annually.
"(Gl-No payment upon any
note shall BIO made under this SEE
ton by the secretary Of the treas.
ury to any bank, unless the noto
when presented to him Is accom-
panied by an affidavit made by an
officer OF the bank before a notary
public or other officer designatea
for the purpose by regulation of the
secretary and stating that the bank
has not charged or collected or at
tempted to charge or collect, direct
ly or indirectly, any fee or other
compensation Except interest az,
authorized by this section) in re.
spect to or, because of any loar
made under this section by a bank
to a veteran. Any bank or officer
who thereon does collect or charge
or collect any such fee or comper.
sation, shall be liable to the VET
eran for a penalty Of 500 to be re-
covered in a civil suit brought BIZ
the veteran.
"(H)-The secretary Of the treas
ury shall make regulation for the
enforcement Of the provisions Of
this section"
A safe guarding provision as to
loans and certificates Is contained
in the bill. It provides that no cor
tificate or rights conferred undef
the title shall be negotiable or as
sIgnable, or be security for loans
other than those made by banks OF
the federal government, under pen.
atty Of forfeiture Of rights by the,
veteran under this title"
After September 30, 1925, the
government would loan TO veterans
on certificates the amount ad.,