 |
Code of Federal Regulations (Last Updated: November 8, 2024) |
 |
Title 12 - Banks and Banking |
|
Chapter V - Office of Thrift Supervision, Department of the Treasury |
|
Part 572 - Loans in Areas Having Special Flood Hazards |
§ 572.1 - Authority, purpose, and scope.
Latest version.
-
§ 572.1 Authority, purpose, and scope.
(a) Authority. This part is issued pursuant to 12 U.S.C. 1462, 1462a, 1463, 1464 and 42 U.S.C. 4012a, 4104a, 4104b, 4106, 4128.
(b) Purpose. The purpose of this part is to implement the requirements of the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as amended (42 U.S.C. 4001-4129).
(c) Scope. This part, except for §§ 572.6 and 572.8, applies to loans secured by buildings or mobile homes located or to be located in areas determined by the Director of the Federal Emergency Management Agency to have special flood hazards. Sections 572.6 and 572.8 of this part apply to loans secured by buildings or mobile homes, regardless of location.