The Borough Solicitor shall, before assuming
and discharging any of the duties and responsibilities of such office,
furnish proof to the Borough Secretary that he or she has in effect
and in his or her name a policy of professional liability insurance
in the full amount of at least $100,000. Such policy shall continue
to be effective for the period of such officer's service with the
Borough. If for any reason such policy lapses, expires or is cancelled
during the period of such officer's service with the Borough, such
officer shall notify the Borough Secretary of such fact within 10
days of the happening thereof or within 10 days of his or her receiving
notice thereof. The Borough Secretary shall in turn notify Council
of such fact, which shall take whatever action it deems prudent in
the circumstances.