Federal Deposit Insurance Corporation
Loans In Areas Having Special Flood Hazards
Rule 339.4
339.4 Exemptions
The flood insurance requirement prescribed by Sec. 339.3 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. |
