[Code of Federal Regulations]
[Title 24, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR55.21]

[Page 403]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 55_FLOODPLAIN MANAGEMENT--Table of Contents
 
 Subpart C_Procedures for Making Determinations on Floodplain Management
 
Sec. 55.21  Notification of floodplain hazard.

    For HUD programs under which a financial transaction for a property 
located in a floodplain (a 500-year floodplain for a Critical Action) is 
guaranteed, approved, regulated or insured, any private party 
participating in the transaction and any current or prospective tenant 
shall be informed by HUD (or by HUD's designee, e.g., a mortgagor) or a 
grant recipient subject to 24 CFR part 58 of the hazards of the 
floodplain location before the execution of documents completing the 
transaction.