38 CFR 36.4702 - Requirement to purchase flood insurance where available.

§ 36.4702 Requirement to purchase flood insurance where available.

In general. The Secretary shall not make, increase, extend, or renew any designated loan unless the building or mobile home and any personal property securing the loan is covered by flood insurance for the term of the loan. The amount of insurance must be at least equal to the lesser of the outstanding principal balance of the designated loan or the maximum limit of coverage available for the particular type of property under the Act. Flood insurance coverage under the Act is limited to the overall value of the property securing the designated loan minus the value of the land on which the property is located.

(Authority: 42 U.S.C. 4012a)
[ 62 FR 5532, Feb. 6, 1997]

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United States Code
Public Laws

Title 38 published on 2015-12-03

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 38 CFR Part 36 after this date.

  • 2017-02-21; vol. 82 # 33 - Tuesday, February 21, 2017
    1. 82 FR 11153 - Veterans Benefits Administration; Loan Guaranty: Technical Corrections
      GPO FDSys XML | Text
      DEPARTMENT OF VETERANS AFFAIRS
      Final rule; correcting amendment.
      This correction is effective on February 21, 2017.
      38 CFR Part 36