Sec. 304. Coverage for cooperatives
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Section 1306 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4013 ) is amended by adding at the end the following: Notwithstanding any other provision of law, the Administrator shall make flood insurance coverage available to any individual with a membership interest and occupancy agreement in a cooperative housing project on the same terms as any owner of a condominium. . Section 1312 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4019 ) is amended— in subsection (c)— by striking flood insurance to condominium owners and inserting the following: flood insurance— to condominium owners ; by striking the period at the end and inserting ; or ; by adding at the end the following: to individuals with a membership interest and occupancy agreement in a cooperative housing project who purchased such flood insurance separate and apart from the flood insurance purchased by the cooperative association in which such individual is a member, based solely, or in any part, on the flood insurance coverage of the cooperative association or others on the overall property owned by the cooperative association. ; and by adding at the end the following:
For purposes of this section and section 1306(e), the terms cooperative association and cooperative housing project shall have such meaning as the Secretary shall provide. .
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