[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR614.4940]



[Page 144]

 

                       TITLE 12--BANKS AND BANKING

 

                 CHAPTER VI--FARM CREDIT ADMINISTRATION

 

PART 614_LOAN POLICIES AND OPERATIONS--Table of Contents

 

                 Subpart S_Flood Insurance Requirements

 

Sec. 614.4940  Required use of standard flood hazard determination form.



    (a) Use of form. System institutions must use the standard flood 

hazard determination form developed by the Director of FEMA when 

determining whether the building or mobile home offered as collateral 

security for a loan is or will be located in a special flood hazard area 

in which flood insurance is available under the 1968 Act. The standard 

flood hazard determination form may be used in a printed, computerized, 

or electronic manner. A System institution may obtain the standard flood 

hazard determination form by written request to FEMA, P.O. Box 2012, 

Jessup, MD 20794-2012.

    (b) Retention of form. System institutions shall retain a copy of 

the completed standard flood hazard determination form, in either hard 

copy or electronic form, for the period of time the institution owns the 

loan.



[61 FR 45711, Aug. 29, 1996, as amended at 64 FR 71274, Dec. 21, 1999]