42 U.S.C. § 4003
42 U.S.C. § 4003
EDITORIAL NOTES
REFERENCES IN TEXTThis Act, referred to in text, means Pub. L. 93-234, Dec. 31, 1973, 87 Stat. 975, known as the Flood Disaster Protection Act of 1973. For complete classification of this Act to the Code, see Short Title of 1973 Amendment note set out under section 4001 of this title and Tables.The Disaster Relief and Emergency Assistance Act, referred to in subsec. (a)(4), is Pub. L. 93-288, May 22, 1974, 88 Stat. 143, known as the Robert T. Stafford Disaster Relief and Emergency Assistance Act, which is classified principally to chapter 68 (§5121 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5121 of this title and Tables.
CODIFICATIONSection was enacted as part of the Flood Disaster Protection Act of 1973, and not as part of the National Flood Insurance Act of 1968 which comprises this chapter.
AMENDMENTS2012-Subsec. (a)(6). Pub. L. 112-141 substituted "'Administrator'" for "'Director'" and "Administrator of" for "Director of".Subsec. (b). Pub. L. 112-141 substituted "Administrator" for "Director".2010-Subsec. (a)(5). Pub. L. 111-203 struck out ",the Office of Thrift Supervision" after "the Comptroller of the Currency".1994-Subsec. (a)(5). Pub. L. 103-325, §511(a)(1), added par. (5) and struck out former par. (5) which read as follows: "'Federal instrumentality responsible for the supervision, approval, regulation, or insuring of banks, savings and loan associations, or similar institutions' means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Federal Home Loan Bank Board, the Federal Savings and Loan Insurance Corporation, and the National Credit Union Administration; and".Subsec. (a)(7) to (11). Pub. L. 103-325, §511(a)(2), (3), added pars. (7) to (11). 1988-Subsec. (a)(4). Pub. L. 100-707 substituted "Disaster Relief and Emergency Assistance Act" for "Disaster Relief Act of 1974". 1983-Subsec. (a)(6). Pub. L. 98-181, §451(e)(2), substituted definition of "Director" meaning the Director of the Federal Emergency Management Agency for definition of "Secretary" meaning the Secretary of Housing and Urban Development.Subsec. (b). Pub. L. 98-181, §451(e)(1), substituted "Director" for "Secretary". 1977-Subsec. (a)(4). Pub. L. 95-128 substituted "assistance pursuant to the Disaster Relief Act of 1974 (other than assistance under such Act in connection with a flood)" for "assistance for emergency work essential for the protection and preservation of life and property performed pursuant to the Disaster Relief Act of 1970 or any subsequent Act of Congress which supersedes or modifies the Disaster Relief Act of 1970".
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111-203 effective on the transfer date, see section 351 of Pub. L. 111-203 set out as a note under section 906 of Title 2, The Congress.
TRANSFER OF FUNCTIONS For transfer of all functions, personnel, assets, components, authorities, grant programs, and liabilities of the Federal Emergency Management Agency, including the functions of the Under Secretary for Federal Emergency Management relating thereto, to the Federal Emergency Management Agency, see section 315(a)(1) of Title 6, Domestic Security. For transfer of functions, personnel, assets, and liabilities of the Federal Emergency Management Agency, including the functions of the Director of the Federal Emergency Management Agency relating thereto, to the Secretary of Homeland Security, and for treatment of related references, see former section 313(1) and sections 551(d), 552(d), and 557 of Title 6, Domestic Security, and the Department of Homeland Security Reorganization Plan of November 25, 2002, as modified, set out as a note under section 542 of Title 6.
- Secretary
- The term "Secretary" means the Secretary of Housing and Urban Development.1See References in Text note below.
- Administrator
- the term "Administrator" means the Administrator of the Federal Emergency Management Agency;
- Federal agency lender
- the term "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
- the term "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;
- improved real estate
- the term "improved real estate" means real estate upon which a building is located;
- lender
- the term "lender" means a regulated lending institution or Federal agency lender;
- person
- the term "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;
- regulated lending institution
- the term "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;
- servicer
- the term "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; and