38 CFR § 36.4703 - Exemptions.

---
identifier: "/us/cfr/t38/s36.4703"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "38 CFR § 36.4703 - Exemptions."
title_number: 38
title_name: "Pensions, Bonuses, and Veterans' Relief"
section_number: "36.4703"
section_name: "Exemptions."
chapter_name: "DEPARTMENT OF VETERANS AFFAIRS"
part_number: "36"
part_name: "LOAN GUARANTY"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "38 U.S.C. 501 and 3720."
cfr_part: "36"
---


# 36.4703 Exemptions.

The flood insurance requirement prescribed by 38 CFR 36.4702 does not apply with respect to:

(a) Any State-owned property covered under a policy of self-insurance satisfactory to the Director of FEMA, who publishes and periodically revises the list of States falling within this exemption; or

(b) Property securing any loan with an original principal balance of $5,000 or less and a repayment term of one year or less.

(Authority: 42 U.S.C. 4012a(c))

[62 FR 5533, Feb. 6, 1997]