42 U.S.C. § 4121 — Definitions

(a) Definitions. (1) “Flood” has the meaning set by the Administrator's regulations and may include water covering land because of rising water; overflowing streams, rivers, or other bodies of water; tidal surges; unusually high tidewater; tidal waves; tsunamis; hurricanes; other severe storms; or deluges. This section does not otherwise define the term. (2) Geographically, “United States” and “State^*” include the States, District of Columbia, territories and possessions, Puerto Rico, and the Trust Territory of the Pacific Islands. (3) “Insurance company,” “other insurer,” and “insurance agent or broker” include an organization or person authorized under a State's laws to conduct insurance business, subject to the Securities Exchange Act of 1934 reporting requirements in sections 13(a) or 15(d), or authorized by the Administrator to assume reinsurance on risks insured by the flood-insurance program. (4) “Insurance adjustment organization” includes organizations and people who adjust loss claims under policies issued by an insurance company or other insurer. (5) “Person” includes an individual or group of individuals, corporation, partnership, association, or other organized group, including State and local governments and their agencies. (6) “Administrator” means the Administrator of the Federal Emergency Management Agency. (7) “Repetitive loss structure” means a flood-insured structure that (A) has had flood damage on two occasions, with average repair cost at least 25 percent of the structure's value at each event, and (B) at the second event has increased-cost-of-compliance coverage in its flood-insurance contract. (8) “Federal agency lender” means a Federal agency that makes direct loans secured by improved real estate or a mobile home, when acting in that capacity. (9) “Federal entity for lending regulation” means the Federal Reserve Board, FDIC, Comptroller of the Currency, National Credit Union Administration, or Farm Credit Administration. For a particular regulated lending institution, it means the entity primarily responsible for supervising it. (10) “Improved real estate” means real estate with a building on it. (11) “Lender” means a regulated lending institution or Federal agency lender. (12) “Natural and beneficial floodplain functions” means (A) functions of a natural or relatively undisturbed floodplain that (i) moderate floods, retain floodwater, reduce erosion and sedimentation, lessen waves and storm surge, and (ii) reduce flood damage; and (B) related beneficial functions, including maintaining water quality and recharging groundwater, that reduce flood damage. (13) “Regulated lending institution” means a bank, savings and loan association, credit union, farm credit bank, Federal land bank association, production credit association, or similar institution supervised by a Federal entity for lending regulation. (14) “Servicer” means the person responsible under a loan for receiving scheduled payments from a borrower, including amounts for taxes, insurance premiums, and other property charges, and for paying principal, interest, and other required amounts from what the borrower pays. (15) “Substantially damaged structure” means a flood-insured structure whose repair cost exceeds an amount set by an Administrator regulation or community ordinance, whichever amount is lower. (b) Mudslides. “Flood” also includes inundation from mudslides proximately caused by water accumulating on or under the ground. This chapter applies to those mudslides in the same way and to the same extent as to floods described in subsection (a)(1), subject to regulations that modify chapter provisions, including land-management and land-use provisions, as needed for effective application and to achieve the chapter's purposes and the program's objectives. (c) Shoreline collapse. “Flood” also includes collapse or sinking of land along a lake or other body of water caused by erosion or undermining from waves or currents exceeding expected cyclical levels. This chapter applies to that collapse or sinking in the same way and to the same extent as to floods described in subsection (a)(1), subject to the Administrator's regulations and necessary modifications to achieve the chapter's purposes and the program's objectives.