---
kind: "section"
citation: "12 U.S.C. § 3352"
title: "12"
title_heading: "Banks and Banking"
number: "3352"
heading: "Emergency exceptions for disaster areas"
release: "119-102"
url: "https://uscodex.org/usc/12/3352"
units:
  - "Chapter 34A — Appraisal Subcommittee of Federal Financial Institutions Examination Council"
---

# §3352. Emergency exceptions for disaster areas

- (a) **In general—** Each Federal [financial institutions](/usc/12/1715k.md?p=h-1-C) regulatory [agency](/usc/12/1422.md?p=12) may, by regulation or order, make exceptions to this chapter, and to standards prescribed pursuant to this chapter, for transactions involving institutions for which the [agency](/usc/12/1422.md?p=12) is the primary Federal regulator with respect to real property located within a [disaster area](#d) if the [agency](/usc/12/1422.md?p=12)—
  - (1) makes the exception not later than 30 months after the date on which the President determines, pursuant to [section 5170 of title 42](/usc/42/5170.md), that a major disaster exists in the area; and
  - (2) determines that the exception—
    - (A) would facilitate recovery from the major disaster; and
    - (B) is consistent with safety and soundness.
- (b) **3-year limit on exceptions—** Any exception made under this section shall expire not later than 3 years after the date of the determination referred to in [subsection (a)(1)](#a-1).
- (c) **Publication required—** Any Federal [financial institutions](/usc/12/1715k.md?p=h-1-C) regulatory [agency](/usc/12/1422.md?p=12) shall publish in the Federal Register a statement that—
  - (1) describes any exception made under this section; and
  - (2) explains how the exception—
    - (A) would facilitate recovery from the major disaster; and
    - (B) is consistent with safety and soundness.
- (d) **“Disaster area” defined—** For purposes of this section, the term “disaster area” means an area in which the President, pursuant to [section 5170 of title 42](/usc/42/5170.md), has determined that a major disaster exists.

## Source credit

(Pub. L. 101–73, title XI, § 1123, as added Pub. L. 102–485, § 2, Oct. 23, 1992, 106 Stat. 2771.)