[HISTORY: Adopted by the Board of Trustees of the Village of Green Island as indicated in article histories. Amendments noted where applicable.]
[Adopted 2-27-1978 by L.L. No. 1-1978]
[Amended 12-19-1988 by L.L. No. 1-1988]
The Village of Green Island elects to adopt the procedures set forth by Chapter 738 of the Laws of 1977, General Municipal Law § 22, and Insurance Law §§ 331 and 3410, in order to obtain liens on fire insurance proceeds deriving from real property within the Village as therein defined.
Within 10 days of the effective date of this article, the Village Deputy Treasurer is hereby authorized and directed to cause a notice of intention by the Village to claim against fire insurance proceeds to be served upon the New York State Superintendent of Insurance as provided in General Municipal Law § 22, Subdivision 3.
In any case where the Village has obtained a lien in its favor upon the provisions of this article, the General Municipal Law and the Insurance Law, the Village may release such lien or return to the owner of the real property any proceeds collected by the Village by virtue of such lien on the written agreement of the insured to restore the affected premises to the same or improved condition that it was in prior to the time the lien arose. In granting such release or refund, the Village may impose such conditions as may be deemed appropriate to guarantee performance of such obligation to restore. In any event, if such restoration is completed, the Village shall release such lien or refund the proceeds as may be appropriate.
Amounts realized from liens arising hereunder shall be credited to the general fund of the Village.