Policies of General Application; Flood Insurance Protection

요약

This proposed rule would amend the amount of flood insurance coverage required of recipients of certain SBA assistance. Under this proposal, flood insurance would be required in an amount equal to the lesser of the sum of all liens on the property (including any SBA lien) plus, if the SBA assistance is unsecured, the outstanding balance of the SBA assistance or the insurable value of the property, but in no event would the required insurance exceed the maximum flood insurance available under the National Flood Insurance Act of 1968.