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§ 22.4 - Exemptions.

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The flood insurance requirement prescribed by § 22.3 does not apply with respect to:

Any State-owned property covered under a policy of self-insurance satisfactory to the Administrator of FEMA, who publishes and periodically revises the list of States falling within this exemption;

Property securing any loan with an original principal balance of $5,000 or less and a repayment term of one year or less; or

Any structure that is a part of any residential property but is detached from the primary residential structure of such property and does not serve as a residence. For purposes of this paragraph (c):

“A structure that is a part of a residential property” is a structure used primarily for personal, family, or household purposes, and not used primarily for agricultural, commercial, industrial, or other business purposes;

A structure is “detached” from the primary residential structure if it is not joined by any structural connection to that structure; and

“Serve as a residence” shall be based upon the good faith determination of the national bank or Federal savings association that the structure is intended for use or actually used as a residence, which generally includes sleeping, bathroom, or kitchen facilities.

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§ 22.3 - Requirement to purchase flood insurance where available.
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