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interest rate reduction effective date

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  • #2596
    Susan
    Participant

    For a reservist, Section 106 extends the rights of Title II to the period beginning on the date they receive the order to report for service. We have not been asking or recording a separate date regarding “receipt” of a customer’s orders. Instead, we have been using the date for reporting to the unit home station. That appears to be incorrect. Should we instead use the date of the orders themselves – to be certain we’ve included that additional period prior to their reporting date?

    #3127
    JGo9
    Participant

    Susan,

    I thought I would post section 516:

    SEC. 516. EXTENSION OF RIGHTS AND PROTECTIONS TO RESERVES ORDERED TO REPORT FOR MILITARY SERVICE AND TO PERSONS ORDERED TO REPORT FOR INDUCTION.
    (a) RESERVES ORDERED TO REPORT FOR MILITARY SERVICE- A member of a reserve component who is ordered to report for military service is entitled to the rights and protections of this title and titles II and III [sections 511 to 515, 516 to 519, 521 to 527, and 531 to 538 of this Appendix] during the period beginning on the date of the member’s receipt of the order and ending on the date on which the member reports for military service (or, if the order is revoked before the member so reports, or the date on which the order is revoked).
    (b) PERSONS ORDERED TO REPORT FOR INDUCTION- A person who has been ordered to report for induction under the Military Selective Service Act (50 App. U.S.C. 451 et seq.) is entitled to the rights and protections provided a servicemember under this title and titles II and III [sections 511 to 515, 516 to 519, 521 to 527, and 531 to 538 of this Appendix] during the period beginning on the date of receipt of the order for induction and ending on the date on which the person reports for induction (or, if the order to report for induction is revoked before the date on which the person reports for induction, on the date on which the order is revoked).

    I’ve tried to highlight above key phrases that points to the fact that the timing starts when they receive orders. It sounds like you are correct in your assessment that you’ve been using the wrong date, and I would start using the date the orders are received instead.

    I hope this helps.

    Thanks,

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