Sec. 13. EXCLUSION OF DETACHED STRUCTURES FROM MANDATORY PURCHASE REQUIREMENT
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## SEC. 13 EXCLUSION OF DETACHED STRUCTURES FROM MANDATORY PURCHASE REQUIREMENT ###
(a)Exclusion Subsection
(c)of section 102 of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a(c)) is amended by adding at the end the following new paragraph: > > #### “(3) Detached structures > > Notwithstanding any other provision of this section, flood insurance shall not be required, in the case of any residential property, for any structure that is a part of such property but is detached from the primary residential structure of such property and does not serve as a residence.” > . ###
(b)RESPA Statement Section 5(b) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2604(b)) is amended— ####
(1)in paragraph (14), by inserting before the period at the end the following: “, and the following statement: ‘Although you may not be required to maintain flood insurance on all structures, you may still wish to do so, and your mortgage lender may still require you to do so to protect the collateral securing the mortgage. If you choose to not maintain flood insurance on a structure, and it floods, you are responsible for all flood losses relating to that structure.’”; and ####
(2)by transferring and inserting paragraph (14), as so amended, after paragraph (13).
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Sec. 13
EXCLUSION OF DETACHED STRUCTURES FROM MANDATORY PURCHASE REQUIREMENT
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