- Administrator
means the Administrator of the Federal Emergency Management Agency.
- agricultural commodities
means agricultural commodities and livestock.
- agricultural structure
means any structure used exclusively in connection with the production, harvesting, storage, raising, or drying of agricultural commodities;
- coastal State
has the meaning given the term “coastal state” in section 1453 of title 16, except that the term shall not apply with respect to a State or territory that has an operational wind and flood loss allocation system.
- community
means—
- enterprise
means the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation.
- Federal agency
means any department, agency, corporation, or other entity or instrumentality of the executive branch of the Federal Government, and includes the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation;
- Federal agency lender
means a Federal agency that makes direct loans secured by improved real estate or a mobile home, to the extent such agency acts in such capacity;
- Federal entity for lending regulation
means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the National Credit Union Administration, and the Farm Credit Administration, and with respect to a particular regulated lending institution means the entity primarily responsible for the supervision of the institution;
- financial assistance
means any form of loan, grant, guaranty, insurance, payment, rebate, subsidy, disaster assistance loan or grant, or any other form of direct or indirect Federal assistance, other than general or special revenue sharing or formula grants made to States;
- financial assistance for acquisition or construction purposes
means any form of financial assistance which is intended in whole or in part for the acquisition, construction, reconstruction, repair, or improvement of any publicly or privately owned building or mobile home, and for any machinery, equipment, fixtures, and furnishings contained or to be contained therein, and shall include the purchase or subsidization of mortgages or mortgage loans but shall exclude assistance pursuant to the Disaster Relief and Emergency Assistance Act [42 U.S.C. 5121 et seq.] (other than assistance under such Act in connection with a flood);
- improved real estate
means real estate upon which a building is located;
- indeterminate loss
means, as determined by an insurance claims adjuster certified under the national flood insurance program and in consultation with an engineer as appropriate, a loss resulting from physical damage to, or loss of, property located in any coastal State arising from the combined perils of flood and wind associated with a named storm.
- insurance adjustment organization
includes any organizations and persons engaged in the business of adjusting loss claims arising under insurance policies issued by any insurance company or other insurer;
- lender
means a regulated lending institution or Federal agency lender;
- mobile home
has the meaning given such term in the law of the State in which the mobile home is located.
- named storm
means any organized weather system with a defined surface circulation and maximum sustained winds of not less than 39 miles per hour which the National Hurricane Center of the United States National Weather Service names as a tropical storm or a hurricane.
- National Flood Insurance Program
means the program established under the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.).
- natural and beneficial floodplain functions
means—
- person
includes any individual or group of individuals, corporation, partnership, association, or any other organized group of persons, including State and local governments and agencies thereof;
- post-storm assessment
means the post-storm assessment developed under section 3611(b) of title 33.
- private flood insurance
means an insurance policy that—
- property
means real or personal property that is insured under a standard insurance policy for loss or damage to structure or contents.
- regulated lending institution
means any bank, savings and loan association, credit union, farm credit bank, Federal land bank association, production credit association, or similar institution subject to the supervision of a Federal entity for lending regulation;
- repetitive loss structure
has the meaning given such term in section 4121 of this title.
- representatives of the Administrator
means representatives of the national flood insurance program who participate in the appeals process established under section 205 of the Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004 (42 U.S.C. 4011 note).
- residential improved real estate
means improved real estate for which the improvement is a residential building.
- Secretary
means the Secretary of Homeland Security.
- servicer
means the person responsible for receiving any scheduled periodic payments from a borrower pursuant to the terms of a loan, including amounts for taxes, insurance premiums, and other charges with respect to the property securing the loan, and making the payments of principal and interest and such other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the loan;
- severe repetitive loss structure
means a structure that—
- standard insurance policy
means any insurance policy issued under the national flood insurance program that covers loss or damage to property resulting from water peril.
- State
means a State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any other territory or possession of the United States.
- substantially damaged structure
means a structure covered by a contract for flood insurance that has incurred damage for which the cost of repair exceeds an amount specified in any regulation promulgated by the Administrator, or by a community ordinance, whichever is lower.
- Under Secretary
means the Under Secretary of Commerce for Oceans and Atmosphere, in the Under Secretary’s capacity as Administrator of the National Oceanic and Atmospheric Administration.
- unsatisfactory ruling
means that a community—
- Write Your Own
means the cooperative undertaking between the insurance industry and the Federal Insurance Administration which allows participating property and casualty insurance companies to write and service standard flood insurance policies.