[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1806.24]

[Page 1165]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVIII--RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE 
SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF 
                               AGRICULTURE
 
PART 1806--INSURANCE--Table of Contents
 
                   Subpart B--National Flood Insurance
 
Sec. 1806.24  Eligibility.

    In addition to an applicant meeting the requirements for the type of 
financial assistance requested, the following requirements for 
eligibility of applicants for financial assistance for acquisition and 
construction purposes in designated special flood and mudslide prone 
areas must be met:
    (a) If flood insurance is available, to be eligible after March 1, 
1974, the applicant must have purchased a flood insurance policy at the 
time the loan or grant is closed.
    (b) Applicants will not receive financial assistance in those 
communities that have been notified as having special flood and mudslide 
prone areas and where flood insurance is not available within 1 year 
after such notification or by July 1, 1975, whichever is later.