[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
No insurance company authorized to issue fire
insurance policies in the State of New Jersey shall pay to a claimant any
claim in excess of $2,500 for fire damages on any real property located
within the Borough of Emerson, pursuant to any fire insurance policy,
issued or renewed, after the adoption of this chapter, and the filing
of this chapter with State Commissioner of Insurance, until such time
as all taxes, assessments, and all other municipal liens or charges
due and payable, appearing on the official certificate of search for
municipal liens, pursuant to N.J.S.A. 54:5-12 shall have been paid
either by the owner of such property or by the insurance company.