24 CFR § 241.265 - Insurance of property against flood.

---
identifier: "/us/cfr/t24/s241.265"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 241.265 - Insurance of property against flood."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "241.265"
section_name: "Insurance of property against flood."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
subchapter_number: "B"
subchapter_name: "MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES"
part_number: "241"
part_name: "SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1715b, 1715z-6, and 1735d; 42 U.S.C. 3535(d)."
regulatory_source: "36 FR 24653, Dec. 22, 1971, unless otherwise noted."
cfr_part: "241"
---


# 241.265 Insurance of property against flood.

The mortgaged property shall be insured against flood as stipulated by the Federal Housing Commissioner. The mortgagee shall obtain such coverage in the event the mortgagor fails to do so. If the mortgagee fails to pay any premiums necessary to keep the mortgaged premises so insured, the contract of mortgage insurance may be terminated at the election of the Commissioner.

[39 FR 26023, July 16, 1974]