[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: 12CFR760.4]



[Page 680-681]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 760_LOANS IN AREAS HAVING SPECIAL FLOOD HAZARDS--Table of Contents

 

Sec. 760.4  Exemptions.



    The flood insurance requirement prescribed by Sec. 760.3 does not 

apply with respect to:

    (a) Any State-owned property covered under a policy of self-

insurance satisfactory to the Director of FEMA, who publishes and 

periodically revises



[[Page 681]]



the list of States falling within this exemption; or

    (b) Property securing any loan with an original principal balance of 

$5,000 or less and a repayment term of one year or less.