[Code of Federal Regulations]
[Title 44, Volume 1]
[Revised as of October 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 44CFR63.8]

[Page 319]
 
              TITLE 44--EMERGENCY MANAGEMENT AND ASSISTANCE
 
 CHAPTER I--FEDERAL EMERGENCY MANAGEMENT AGENCY, DEPARTMENT OF HOMELAND 
                                SECURITY
 
PART 63_IMPLEMENTATION OF SECTION 1306(c) OF THE NATIONAL FLOOD INSURANCE ACT 
 
                            Subpart A_General
 
Sec.  63.8  Limitation on amount of benefits.

    (a) In section 1306(c)(3)(C) of the Act, the phrase under the flood 
insurance contract issued pursuant to this title means the value of the 
structure under section 1306(c)(3)(C) of the Act is limited to the 
amount of building coverage provided by the insured's policy.
    (b) Where the amount payable under section 1306(c)(1)(A)(ii) of the 
Act for the cost of demolition, together with the amount payable under 
section 1306(c)(1)(A) of the Act for the value of the structure under 
the demolition option, exceeds the amount of building coverage provided 
by the insured's policy, such amounts will be paid beyond the amount of 
that building coverage, even if this payment exceeds the limits of 
coverage otherwise authorized by section 1306(a) of the Act for the 
particular class of property.