[Code of Federal Regulations]

[Title 44, Volume 1]

[Revised as of October 1, 2006]

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

[CITE: 44CFR63.8]



[Page 334-335]

 

              TITLE 44--EMERGENCY MANAGEMENT AND ASSISTANCE

 

 CHAPTER I--FEDERAL EMERGENCY MANAGEMENT AGENCY, DEPARTMENT OF HOMELAND 

                                SECURITY

 

PART 63_IMPLEMENTATION OF SECTION 1306(c) OF THE NATIONAL FLOOD 

INSURANCE ACT OF 1968--Table of Contents

 

                            Subpart A_General

 

Sec.  63.8  Limitation on amount of benefits.



    (a) In section 1306(c)(3)(C) of the Act, the phrase under the flood 

insurance contract issued pursuant to this title means the value of the 

structure under section 1306(c)(3)(C) of the Act is limited to the 

amount of building coverage provided by the insured's policy.

    (b) Where the amount payable under section 1306(c)(1)(A)(ii) of the 

Act for the cost of demolition, together with the amount payable under 

section 1306(c)(1)(A) of the Act for the value of the structure under 

the demolition option, exceeds the amount of building



[[Page 335]]



coverage provided by the insured's policy, such amounts will be paid 

beyond the amount of that building coverage, even if this payment 

exceeds the limits of coverage otherwise authorized by section 1306(a) 

of the Act for the particular class of property.