We are participating in a commercial loan secured by equipment and the moveable buildings they are stored in. Some of the moveable buildings are also used for housing of workers. These buildings are moved from location to location and are not permanently fixed to a foundation. Would these be exempt from flood insurance requirements?

I have something similiar; we have a company that places coffee house kiosks, but they are attached to semi-permanent foundation slabs with some time of anchoring system. If the location does not result in good sales then they can come in an pick up the kiosk and relocate it. In addition, the company only leases these spots, so the bank when granting the loan does not take a lien on the real estate but only obtaining an assignment of lease and also a fixture filing.

Building--
A structure with two or more outside rigid walls and a fully secured roof, that is affixed to a permanent site; or
A manufactured home (a "manufactured home," also known as a mobile home, is a structure built on a permanent chassis, transported to its site in one or more sections, and affixed to a permanent foundation); or
A travel trailer without wheels, built on a chassis and affixed to a permanent foundation, that is regulated under the community's floodplain management and building ordinances or laws.
"Building" does not mean a gas or liquid storage tank or a recreational vehicle, park trailer, or other similar vehicle, except as described above.


SRB - from your description these do not appear to meet the definition of building therefore they would not be subject to coverage IMO.

Blakchills - how do you attach to a "semi permanent" foundation? The foundation appears to be permanent and the building appears to be attached to that foundation even though it can be removed later, the same scenario as a MH located in MH park. Based on your description I would say these "kiosks" do meet the definition of a building and would be subject to the flood rules while attached/anchored to the foundation if you have a security interest in the "kiosk".

Thanks for the help!