source:
  type: regulation
  id: flood-12cfr-22.3
  authority: 12 CFR §22.3 — Loans in Areas Having Special Flood Hazards (OCC)
  description: '12 CFR §22.3 is the OCC''s implementation of the §4012a mandatory-purchase

    rule for national banks and Federal savings associations.

    '
obligations:
- id: flood-12cfr-22.3-a
  canonical_id: flood-12cfr-22.3-a
  section: 12 CFR §22.3(a)
  description: '(a): (a) In general. A national bank or Federal savings association shall not make, increase,
    extend, or renew any designated loan unless the building or mobile home and any personal property
    securing the loan is covered by flood insurance for the term of the loan. The amount of insurance
    must be at leas…'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §22.3(a)
    source_class: flood-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/22.3
    snapshot_id: bd19134084d135ad
    fetched_at: '2026-05-22T18:52:40Z'
    content_hash: sha256:31693eb1abade234fe7be7eebcff62d13b25f8021226b73f1cd3a7a7255472a2
    paragraph_quote: (a) In general. A national bank or Federal savings association shall not make, increase,
      extend, or renew any designated loan unless the building or mobile home and any personal property
      securing the loan is covered by flood insurance for the term of the loan. The amount of insurance
      must be at least equal to the lesser of the outstanding principal balance of the designated loan
      or the maximum limit of coverage available for the particular type of property under the Act . Flood
      insurance coverage under the Act is limited to the building or mobile home and any personal property
      that secures a loan and not the land itself.
    drafter_attestation: Verbatim subsection of 12 CFR §22.3 from Cornell LII snapshot bd19134084d135ad;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: flood-12cfr-22.3-b
  canonical_id: flood-12cfr-22.3-b
  section: 12 CFR §22.3(b)
  description: '(b): (b) Table funded loans. A national bank or Federal savings association that acquires
    a loan from a mortgage broker or other entity through table funding shall be considered to be making
    a loan for the purposes of this part.'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §22.3(a)
    source_class: flood-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/22.3
    snapshot_id: bd19134084d135ad
    fetched_at: '2026-05-22T18:52:40Z'
    content_hash: sha256:31693eb1abade234fe7be7eebcff62d13b25f8021226b73f1cd3a7a7255472a2
    paragraph_quote: (b) Table funded loans. A national bank or Federal savings association that acquires
      a loan from a mortgage broker or other entity through table funding shall be considered to be making
      a loan for the purposes of this part.
    drafter_attestation: Verbatim subsection of 12 CFR §22.3 from Cornell LII snapshot bd19134084d135ad;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: flood-12cfr-22.3-c
  canonical_id: flood-12cfr-22.3-c
  section: 12 CFR §22.3(c)
  description: '(c): (c) Private flood insurance —(1) Mandatory acceptance. A national bank or Federal
    savings association must accept private flood insurance , as defined in § 22.2(k) , in satisfaction
    of the flood insurance purchase requirement in paragraph (a) of this section if the policy meets the
    requirements for …'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §22.3(a)
    source_class: flood-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/22.3
    snapshot_id: bd19134084d135ad
    fetched_at: '2026-05-22T18:52:40Z'
    content_hash: sha256:31693eb1abade234fe7be7eebcff62d13b25f8021226b73f1cd3a7a7255472a2
    paragraph_quote: '(c) Private flood insurance —(1) Mandatory acceptance. A national bank or Federal
      savings association must accept private flood insurance , as defined in § 22.2(k) , in satisfaction
      of the flood insurance purchase requirement in paragraph (a) of this section if the policy meets
      the requirements for coverage in paragraph (a) of this section. (2) Compliance aid for mandatory
      acceptance. A national bank or Federal savings association may determine that a policy meets the
      definition of private flood insurance in § 22.2(k) , without further review of the policy, if the
      following statement is included within the policy or as an endorsement to the policy: “This policy
      meets the definition of private flood insurance contained in 42 U.S.C. 4012a(b)(7) and the corresponding
      regulation.” (3) Discretionary acceptance. A national bank or Federal savings association may accept
      a flood insurance policy issued by a private insurer that is not issued under the NFIP and that
      does not meet the definition of private flood insurance in § 22.2(k) in satisfaction of the flood
      insurance purchase requirement in paragraph (a) of this section if the policy:'
    drafter_attestation: Verbatim subsection of 12 CFR §22.3 from Cornell LII snapshot bd19134084d135ad;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: flood-12cfr-22.3-i
  canonical_id: flood-12cfr-22.3-i
  section: 12 CFR §22.3(i)
  description: '(i): (i) Provides coverage in the amount required by paragraph (a) of this section; (ii)
    Is issued by an insurer that is licensed, admitted, or otherwise approved to engage in the business
    of insurance by the insurance regulator of the State or jurisdiction in which the property to be insured
    is located;…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §22.3(a)
    source_class: flood-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/22.3
    snapshot_id: bd19134084d135ad
    fetched_at: '2026-05-22T18:52:40Z'
    content_hash: sha256:31693eb1abade234fe7be7eebcff62d13b25f8021226b73f1cd3a7a7255472a2
    paragraph_quote: '(i) Provides coverage in the amount required by paragraph (a) of this section; (ii)
      Is issued by an insurer that is licensed, admitted, or otherwise approved to engage in the business
      of insurance by the insurance regulator of the State or jurisdiction in which the property to be
      insured is located; or in the case of a policy of difference in conditions, multiple peril, all
      risk, or other blanket coverage insuring nonresidential commercial property, is issued by a surplus
      lines insurer recognized, or not disapproved, by the insurance regulator of the State or jurisdiction
      where the property to be insured is located; (iii) Covers both the mortgagor(s) and the mortgagee(s)
      as loss payees, except in the case of a policy that is provided by a condominium association, cooperative,
      homeowners association, or other applicable group and for which the premium is paid by the condominium
      association, cooperative, homeowners association, or other applicable group as a common expense;
      and (iv) Provides sufficient protection of the designated loan , consistent with general safety
      and soundness principles, and the national bank or Federal savings association documents its conclusion
      regarding sufficiency of the protection of the loan in writing. (4) Mutual aid societies. Notwithstanding
      the requirements of paragraph (c)(3) of this section, a national bank or Federal savings association
      may accept a plan issued by a mutual aid society , as defined in § 22.2(h), in satisfaction of the
      flood insurance purchase requirement in paragraph (a) of this section if:'
    drafter_attestation: Verbatim subsection of 12 CFR §22.3 from Cornell LII snapshot bd19134084d135ad;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: flood-12cfr-22.3-i
  canonical_id: flood-12cfr-22.3-i
  section: 12 CFR §22.3(i)
  description: '(i): (i) The OCC has determined that such plans qualify as flood insurance for purposes
    of the Act ; (ii) The plan provides coverage in the amount required by paragraph (a) of this section;
    (iii) The plan covers both the mortgagor(s) and the mortgagee(s) as loss payees; and (iv) The plan
    provides suffici…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §22.3(a)
    source_class: flood-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/22.3
    snapshot_id: bd19134084d135ad
    fetched_at: '2026-05-22T18:52:40Z'
    content_hash: sha256:31693eb1abade234fe7be7eebcff62d13b25f8021226b73f1cd3a7a7255472a2
    paragraph_quote: (i) The OCC has determined that such plans qualify as flood insurance for purposes
      of the Act ; (ii) The plan provides coverage in the amount required by paragraph (a) of this section;
      (iii) The plan covers both the mortgagor(s) and the mortgagee(s) as loss payees; and (iv) The plan
      provides sufficient protection of the designated loan , consistent with general safety and soundness
      principles, and the national bank or Federal savings association documents its conclusion regarding
      sufficiency of the protection of the loan in writing. [ 80 FR 43240 , July 21, 2015, as amended
      at 84 FR 4970 , Feb. 20, 2019] CFR Toolbox Law about... Articles from Wex Table of Popular Names
      Parallel Table of Authorities Accessibility About LII Contact us Advertise here Help Terms of use
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    drafter_attestation: Verbatim subsection of 12 CFR §22.3 from Cornell LII snapshot bd19134084d135ad;
      body isolated between nav and notes; substring-verified.
  judgment: false
