Code of Massachusetts Regulations
209 CMR - DIVISION OF BANKS AND LOAN AGENCIES
Title 209 CMR 57.00 - Flood Insurance
Section 57.05 - Format of Notice about Flood Insurance Coverage
Universal Citation: 209 MA Code of Regs 209.57
Current through Register 1537, December 20, 2024
(1) Clear and Conspicuous Standard. You must make the Notice about Flood Insurance Coverage clearly and conspicuously.
(2) Contents of the Notice. You must include the following in the Notice about Flood Insurance Coverage:
(a) the name of the borrower(s);
(b) the address of the residential property
to be insured;
(c) your name and
address as the provider of the notice;
(d) a statement on the limitations on
required flood insurance coverage as set forth in M.G.L. c. 183, § 69;
and
(e) a section for the signature
of the borrower to acknowledge receipt of the Notice about Flood Insurance
Coverage; provided, however, you are not required to obtain such signature from
the borrower when you are providing the notice prior to the forced placement of
flood insurance pursuant to 209 CMR 57.04(5).
(3) Form of Notice. If you require in a mortgage, note, or otherwise, that a purchaser or owner of a residential property purchase or pay for flood insurance on the property, you must provide a Notice about Flood Insurance Coverage to the purchaser or owner of the property which strictly conforms to the following:
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