[HISTORY: Adopted by the Mayor and Council of the Borough of Tuckerton
as indicated in article histories. Amendments noted where applicable.]
[Adopted 8-3-1981 by Ord. No. 13-1981)
A.
No insurance company authorized to issue fire insurance
policies in the State of New Jersey, which issues or renews any fire insurance
policy after the adoption of this article and the filing of same with the
State Commissioner of Insurance, shall pay to any claimant a sum in excess
of $2,500 for fire damage on any real property located within the Borough
of Tuckerton until such time as:
(1)
All taxes and assessments and all other municipal liens
and charges due and payable to the Borough of Tuckerton as is indicated on
an official certificate of search for municipal liens, shall have been paid
in full; or
(2)
The municipality submits to the insurance company a copy
of a resolution adopted pursuant to N.J.S.A. 17:36-11.
B.
However, if an appeal is taken on the amount of any lien
or charge, other than an appeal on an assessed valuation of real property,
the insurance company shall issue a draft payable to the court of record,
pursuant to N.J.S.A. 17:36-10, in an amount totaling 75% of the full amount
of the lien or charge being contested, and the insurance company shall issue
a draft payable to the municipality for the remaining 25% of the lien or charge
being contested; provided, however, that the amount paid by the insurance
company to the court and the municipality shall not exceed the proceeds payable
under its insurance policy.
The provisions of this article are intended to be interpreted in conjunction
with N.J.S.A. 17:36-8 through N.J.S.A. 17:36-13, and the provisions
of said statutes are herein incorporated by reference.
