
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC4029]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                  CHAPTER 50--NATIONAL FLOOD INSURANCE
 
           SUBCHAPTER I--THE NATIONAL FLOOD INSURANCE PROGRAM
 
Sec. 4029. Colorado River Floodway


(a) Renewal and transfer of policies; acquisition of policies after 
        filing of maps

    Owners of existing National Flood Insurance Act policies with 
respect to structures located within the Floodway established under 
section 1600c of title 43 shall have the right to renew and transfer 
such policies. Owners of existing structures located within said 
Floodway on October 8, 1986, who have not acquired National Flood 
Insurance Act policies shall have the right to acquire policies with 
respect to such structures for six months after the Secretary of the 
Interior files the Floodway maps required by section 1600c(b)(2) \1\ of 
title 43 and to renew and transfer such policies.
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    \1\ See References in Text note below.
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(b) New coverage for new construction or substantial improvements

    No new flood insurance coverage may be provided under this chapter 
on or after a date six months after October 8, 1986, for any new 
construction or substantial improvements of structures located within 
the Colorado River Floodway established by section 1600c of title 43. 
New construction includes all structures that are not insurable prior to 
that date.

(c) Establishment of temporary boundaries

    The Secretary of the Interior may by rule after notice and comment 
pursuant to section 553 of title 5 establish temporary Floodway 
boundaries to be in effect until the maps required by section 
1600c(b)(2) \1\ of title 43 are filed, for the purpose of enforcing 
subsections (b) and (d) of this section.

(d) Loans by federally supervised, approved, regulated, or insured 
        financial institutions

    A regulated lending institution or Federal agency lender may make 
loans secured by structures which are not eligible for flood insurance 
by reason of this section: Provided, That prior to making such a loan, 
such institution determines that the loans or structures securing the 
loan are within the Floodway.

(Pub. L. 90-448, title XIII, Sec. 1322, as added Pub. L. 99-450, 
Sec. 12, Oct. 8, 1986, 100 Stat. 1135; amended Pub. L. 100-242, title V, 
Sec. 545(e), Feb. 5, 1988, 101 Stat. 1942; Pub. L. 103-325, title V, 
Sec. 512(b), Sept. 23, 1994, 108 Stat. 2257.)

                       References in Text

    The National Flood Insurance Act, referred to in subsec. (a), 
probably means the National Flood Insurance Act of 1968, title XIII of 
Pub. L. 90-448, Aug. 1, 1968, 82 Stat. 572, as amended, which is 
classified principally to this chapter (Sec. 4001 et seq.). For complete 
classification of this Act to the Code, see Short Title note set out 
under section 4001 of this title and Tables.
    Section 1600c(b)(2) of title 43, referred to in subsecs. (a) and 
(c), was struck out and former subsec. (b)(1)(ii) redesignated (b)(2) of 
section 1600c by Pub. L. 105-362, title IX, Sec. 901(d)(1), Nov. 10, 
1998, 112 Stat. 3289. As amended, section 1600c(b)(2) no longer relates 
to maps required to be prepared and filed by the Secretary.


                               Amendments

    1994--Subsec. (d). Pub. L. 103-325 substituted ``regulated lending 
institution or Federal agency lender'' for ``federally supervised, 
approved, regulated or insured financial institution''.
    1988--Pub. L. 100-242 inserted section catchline.

                  Section Referred to in Other Sections

    This section is referred to in title 43 sections 1600a, 1600k, 
1600l.
