209 CMR, § 57.05 - Format of Notice about Flood Insurance Coverage
(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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Notes
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