13 CFR 120.170

§ 120.170 Flood insurance.

United States · 13 CFR — Business Credit and Assistance · Status: effective

Cite this

Citation: 13 CFR 120.170, § 120.170 Flood insurance, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/52031
Permanent ID: ys:prov:52031@1
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Full text

Under the Flood Disaster Protection Act of 1973 (Sec. 205(b) of Pub. L. 93-234; 87 Stat. 983 (42 U.S.C. 4000 et seq.)), a loan recipient must obtain flood insurance if any building (including mobile homes), machinery, or equipment acquired, installed, improved, constructed, or renovated with the proceeds of SBA financial assistance is located in a special flood hazard area. The requirement applies also to any inventory (business loan program), fixtures or furnishings contained or to be contained in the building. Mobile homes on a foundation are buildings. SBA, Lenders, CDCs, and Intermediaries must notify Borrowers that flood insurance must be maintained.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.