Sec. 507. Enforcement of mandatory purchase requirements
338 words·~2 min read·
/bill/115/hr/2874/eh/section-507A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Paragraph
(5)of section 102(f) of the Flood Disaster Protection Act of 1973 ( 42 U.S.C. 4012a(f)(5) ) is amended by striking $2,000 and inserting $5,000 . Subparagraph
(A)of section 10(i)(2) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(i)(2)(A) ) is amended by striking date of enactment of the Riegle Community Development and Regulatory Improvement Act of 1994 and biennially thereafter for the next 4 years and inserting date of enactment of the . 21st Century Flood Reform Act and biennially thereafter Subparagraph
(A)of section 204(e)(2) of the Federal Credit Union Act ( 12 U.S.C. 1784(e)(2)(A) ) is amended by striking date of enactment of the Riegle Community Development and Regulatory Improvement Act of 1994 and biennially thereafter for the next 4 years and inserting date of enactment of the . 21st Century Flood Reform Act and annually thereafter Paragraph
(4)of section 1319B(a) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4521(a)(4) ) is amended, in the matter after and below subparagraph (B), by striking first, third, and fifth annual reports under this subsection required to be submitted after the expiration of the 1-year period beginning on the date of enactment of the Riegle Community Development and Regulatory Improvement Act of 1994 and inserting first annual report under this subsection required to be submitted after the expiration of the 1-year period beginning on the date of enactment of the . 21st Century Flood Reform Act and every such second annual report thereafter The Federal entities for lending regulation (as such term is defined in section 3(a) of the Flood Disaster Protection Act of 1973 ( 42 U.S.C. 4003(a) )), in consultation with the Administrator of the Federal Emergency Management Agency, shall jointly update and reissue the rescinded document of the Administrator entitled Mandatory Purchase of Flood Insurance Guidelines (lasted updated on October 29, 2014). The updated document shall incorporate recommendations made by the Comptroller General pursuant to the study conducted under section 514 of this Act.
Connectionstraces to 5
Citation graph
cites case law
Sec. 507
Enforcement of mandatory purchase requirements
Cites 5Cited by 0 across 0 sources