§ 339.6. Required use of standard flood hazard determination form.
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/us/cfr/t12/s§ 339.6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Use of form. An FDIC-supervised institution shall use the standard flood hazard determination form developed by the Administrator 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 Act. The standard flood hazard determination form may be used in a printed, computerized, or electronic manner. An FDIC-supervised institution may obtain the standard flood hazard determination form from FEMA's Web site at www.fema.gov.
(b)Retention of form. An FDIC-supervised institution 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 FDIC-supervised institution owns the loan.
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§ 339.6
Required use of standard flood hazard determination form.
Fed. Reg.×16
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