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1993-173
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1993-173
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Last modified
8/4/2020 11:46:58 AM
Creation date
8/4/2020 10:18:32 AM
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Resolutions
Resolution Number
93-173
Approved Date
10/05/1993
Subject
Opposing Senate Bill 1405 - National Flood Insurance
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17 <br />1 notice by publication, or notice by other reasonable meth - <br />2 od, to regulated lending institutions that are known to <br />3 lend in the community, and to the owners of all properties <br />4 newly determined to be in special flood hazard areas, of <br />5 the requirement that Federal flood insurance be purchased <br />6 for insurable structures located within the special flood <br />7 hazard areas in the community. <br />8 "(d) -CONTENTS OF NOTICE.—Notification required <br />9 by this section shall include a warning, in a form to be <br />10 established by the Director, stating that the real estate <br />11 or manufactured home securing the loan is located in an <br />12 area of special flood hazards, a description of the flood <br />13 insurance purchase requirements under section 102(b) of <br />14 this title, a statement that flood insurance coverage may <br />15 be purchased under the National Flood Insurance Pro - <br />16 gram and may also be available from private insurers, and <br />17 any other information that the Director considers nec- <br />18 essary to carry out the purposes of the National Flood <br />19 Insurance Program.". <br />20 BEC. 204. PLACENZNT OF FLOOD INSURANCE BY REGU- <br />21 LATED LENDING INSTITUTION OR FEDERAL <br />22 AGENCY LENDER. <br />23 (a) REQUIRED ACTIONS BY LENDER.—Section 102 <br />24 of the Flood Disaster Protection Act of 1973 (42 U.S.C. <br />81405-0-3 <br />
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