Skip to content

Parents as covered borrowers under MLA

It seems as if a parent or in-law is only covered if the military member is deceased. Is that true?

Not quite. Part 232 defines the term "dependent" to include, "a parent or parent-in-law" who is, or was at the time of the member’s or former member’s death, in fact dependent on him for over one-half of his support and residing in his household. The term includes both a parent and parent-in-law who is now, or who was at the time of the member's death, dependent on the member.

Learn more about Jack and Kelly’s webinar Military Lending - 11th Hour Checklist

First published on 09/04/2016

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics