National Credit Union Administration |
 | Sec. 760.4 Exemptions.
The flood insurance requirement prescribed by Sec. 760.3 does not
apply with respect to:
(a) Any State-owned property covered under a policy of self-
insurance satisfactory to the Director of FEMA, who publishes and
periodically revises
the list of States falling within this exemption; or
(b) Property securing any loan with an original principal balance of
$5,000 or less and a repayment term of one year or less.
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