repetitive loss structure

(7)the term “repetitive loss structure” means a structure covered by a contract for flood insurance that— (A)has incurred flood-related damage on 2 occasions, in which the cost of repair, on the average, equaled or exceeded 25 percent of the value of the structure at the time of each such flood event; and (B)at the time of the second incidence of flood-related damage, the contract for flood insurance contains increased cost of compliance coverage.1

Source

42 USC § 4121(a)(7)


Scoping language

As used in this chapter
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