Flood Disaster Protection Act of 1973
Legal Document- StatuteStatute: Flood Disaster Protection Act of 1973Legal
AbstractThe National Flood Insurance Program (NFIP) is administered primarily under two statutes: the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973 (FDPA). The NFIP is administered by a department of the Federal Emergency Management Agency (FEMA), the Federal Insurance Administration (FIA). The FDPA requires federal financial regulatory agencies to adopt regulations prohibiting their regulated lending institutions from making, increasing, extending or renewing a loan secured by improved real estate or a mobile home located or to be located in a SFHA in a community participating in the NFIP unless the property securing the loan is covered by flood insurance.
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Flood Disaster Protection Act of 1973 (1973).