Repetitive Loss Structure Law and Legal Definition

According to 42 USCS § 4121 [Title 42. The Public Health and Welfare; Chapter 50. National Flood Insurance; General Provisions], the term "repetitive loss structure" means a structure covered by a contract for flood insurance that--

(A) has incurred flood-related damage on 2 occasions, in which the cost of repair, on the average, equaled or exceeded 25 percent of the value of the structure at the time of each such flood event; and

(B) at the time of the second incidence of flood-related damage, the contract for flood insurance contains increased cost of compliance coverage.