[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR1000.38]



[Page 739]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 1000_NATIVE AMERICAN HOUSING ACTIVITIES--Table of Contents

 

                            Subpart A_General

 

Sec.  1000.38  What flood insurance requirements are applicable?



    Under the Flood Disaster Protection Act of 1973, as amended (42 

U.S.C. 4001-4128), a recipient may not permit the use of Federal 

financial assistance for acquisition and construction purposes 

(including rehabilitation) in an area identified by the Federal 

Emergency Management Agency (FEMA) as having special flood hazards, 

unless the following conditions are met:

    (a) The community in which the area is situated is participating in 

the National Flood Insurance Program in accord with section 202(a) of 

the Flood Disaster Protection Act of 1973 (42 U.S.C. 4106(a)), or less 

than a year has passed since FEMA notification regarding such flood 

hazards. For this purpose, the ``community'' is the governmental entity, 

such as an Indian tribe or authorized tribal organization, an Alaska 

Native village, or authorized Native organization, or a municipality or 

county, that has authority to adopt and enforce flood plain management 

regulations for the area; and

    (b) Where the community is participating in the National Flood 

Insurance Program, flood insurance on the building is obtained in 

compliance with section 102(a) of the Flood Disaster Protection Act of 

1973 (42 U.S.C. 4012(a)); provided, that if the financial assistance is 

in the form of a loan or an insurance or guaranty of a loan, the amount 

of flood insurance required need not exceed the outstanding principal 

balance of the loan and need not be required beyond the term of the 

loan.