(Pub. L. 93–234, title I, § 102,Dec. 31, 1973, 87 Stat. 978; Pub. L. 98–181, title IV, § 451(e)(1),Nov. 30, 1983, 97 Stat. 1229; Pub. L. 103–325, title V, §§ 522–526,
582(c),Sept. 23, 1994, 108 Stat. 2257–2262, 2267, 2287; Pub. L. 110–289, div. A, title I, § 1161(e),July 30, 2008, 122 Stat. 2780.)
References in Text
The National Flood Insurance Act of 1968, referred to in subsecs. (a), (b), (d)(1), and (e)(1), and the Act, referred to in subsec. (b), is title XIII of Pub. L. 90–448
, Aug. 1, 1968, 82 Stat. 572
, as amended, which is classified principally to this chapter (§ 4001 et seq.). For complete classification of this Act to the Code, see Short Title note set out under section
of this title and Tables.
The Federal Financial Institutions Examination Council Act of 1974, referred to in subsec. (b)(1), probably means the Federal Financial Institutions Examination Council Act of 1978, Pub. L. 95–630
, title X, Nov. 10, 1978, 92 Stat. 3694
, as amended, which is classified principally to chapter 34 (§ 3301 et seq.) of Title 12, Banks and Banking. For complete classification of this Act to the Code, see Short Title note set out under section
Section 522(a) ofPublic Law 103–325, referred to in subsec. (b)(4)(C), was in original “section 522(a) of such Act”, which generally amended subsec. (b) of this section.
This title, referred to in subsec. (e)(3)(B), (C), means title I of Pub. L. 93–234
, Dec. 31, 1973, 87 Stat. 977
, which enacted this section and section
of this title and amended sections
of this title.
Section was enacted as part of Flood Disaster Protection Act of 1973, and not as part of National Flood Insurance Act of 1968 which comprises this chapter.
2008—Subsec. (f)(3)(A). Pub. L. 110–289
substituted “Director of the Federal Housing Finance Agency” for “Director of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development”.
1994—Pub. L. 103–325
, § 531, substituted section catchline for former section catchline.
Subsec. (a). Pub. L. 103–325
, § 582(c), struck out “, during the anticipated economic or useful life of the project,” before “covered by flood insurance” and inserted at end “The requirement of maintaining flood insurance shall apply during the life of the property, regardless of transfer of ownership of such property.”
Subsec. (b). Pub. L. 103–325
, § 522(a), amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: “Each Federal instrumentality responsible for the supervision, approval, regulation, or insuring of banks, savings and loan associations, or similar institutions shall by regulation direct such institutions not to make, increase, extend, or renew after the expiration of sixty days following December 31, 1973, any loan secured by improved real estate or a mobile home located or to be located in an area that has been identified by the Director as an area having special flood hazards and in which flood insurance has been made available under the National Flood Insurance Act of 1968, unless the building or mobile home and any personal property securing such loan is covered for the term of the loan by flood insurance in an amount at least equal to the outstanding principal balance of the loan or to the maximum limit of coverage made available with respect to the particular type of property under the Act, whichever is less.”
Subsec. (c). Pub. L. 103–325
, § 522(b), inserted heading, designated existing provisions as par. (1), inserted par. (1) heading, and added par. (2).
Subsecs. (d) to (h). Pub. L. 103–325
, §§ 523–526, added subsecs. (d) to (h).
1983—Pub. L. 98–181
substituted “Director” for “Secretary” wherever appearing.
Effective Date of 1994 Amendment
Amendment by section 582(c) ofPub. L. 103–325
applicable to disasters declared after Sept. 23, 1994, see section
of this title.
Transfer of Functions
For transfer of all functions, personnel, assets, components, authorities, grant programs, and liabilities of the Federal Emergency Management Agency, including the functions of the Under Secretary for Federal Emergency Management relating thereto, to the Federal Emergency Management Agency, see section
, Domestic Security.
For transfer of functions, personnel, assets, and liabilities of the Federal Emergency Management Agency, including the functions of the Director of the Federal Emergency Management Agency relating thereto, to the Secretary of Homeland Security, and for treatment of related references, see former section
, Domestic Security, and the Department of Homeland Security Reorganization Plan of November 25, 2002, as modified, set out as a note under section