Question:
So I am aware of the two walls and a roof requirement in the flood regulations, but what if the building is on a dirt floor but secured to the ground with concreted post? Because there is no floor, does that negate the requirement for flood coverage? Answer: Unfortunately, a floor is not a requirement for it to be considered a building requiring flood coverage. Assuming the other conditions of the definition have otherwise been met, flood insurance would still be required in this case. Building. A structure with 2 or more outside rigid walls and a fully secured roof, that is affixed to a permanent site;... https://www.fema.gov/national-flood-insurance-program/definitions Comments are closed.
|
Archives
March 2020
CategoriesCompliance Alliance offers a comprehensive suite of compliance management solutions.
To learn how to put them to work for your bank, call (888) 353-3933 or email info@compliancealliance.com. |