I inspected a home where the panel is mounted on exterior wall line in a home built in the mid 70's.There is rusted spots which indicate moisture.I would not think this would be allowed by codes since exterior walls are insulated and water diffusion in the wall line.Could someone help me on this.I've looked in the NEC but to no avail.This doesn't seem right.
1) Safety from nails piercing conductors,water intrusion,and the close prox to combustible insulation required in exterior wall.
Please Help out if you can answer this one