[Adopted 4-18-1995 by Ord. No. 1995-4]
This article may be known and cited as the "Fire
Insurance Escrow Ordinance."
The Borough Manager or his designee is hereby
appointed as the designated officer who is authorized to carry out
all responsibilities and duties stated herein.
No insurance company, association or exchange
(hereinafter the "insuring agency") doing business in the Commonwealth
of Pennsylvania shall pay a claim of a named insured for fire damage
to a structure located within the Borough of Old Forge (hereinafter
the "municipality") where the amount recoverable for the fire loss
to the structure under all policies exceeds $7,500, unless the named
insured or insuring agent is furnished by the Municipal Treasurer
with a municipal certificate pursuant to Section 508(b) of Act 98
of 1992, and unless there is compliance with Section 508(c) and (d)
of Act 98 of 1992 and the provisions of this article.
The Borough of Old Forge may, by resolution,
adopt procedures and regulations to implement Act 98 of 1992 and this article and may, by resolution, fix reasonable
fees to be charged for municipal activities or services provided pursuant
to Act 98 of 1992 and this article, including but not limited to issuance
of certificates and bills, performance of inspections and opening
separate fund accounts.
Any owner of property, any named insured or
any insuring agency who or which violates this article shall be subject
to a penalty of up to $1,000 per violation, plus costs of prosecution,
and, in default of payment of such fine and costs, to imprisonment
for not more than 30 days.