[Ord. 902, 3/20/2017]
No insurance company, association or exchange (hereinafter "insuring
agent") 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 where the amount recoverable for the fire loss
to the structure under all policies exceeds $7,500, unless the insuring
agent is furnished by the Municipal Treasurer with a municipal certificate
pursuant to Section 508(B) of Act 98 of 1992, as amended, and unless there is compliance with Section 508(C) of
Act 98 of 1992, as amended, and the provisions of this Part.
[Ord. 902, 3/20/2017]
Upon the enactment of this Part, the Borough Secretary shall
file an exact copy of the Part with the Department of Community Affairs
together with the name, position and phone number of the municipal
official responsible for compliance with Section 508 of the Insurance
Company Law of 1921, as amended.
[Ord. 902, 3/20/2017]
Any owner of property, any named insured or any insuring agent
who shall be convicted of a violation of any provision of this Part
or rule and/or regulation issued pursuant to this Part before any
District Justice shall be sentenced to pay a fine of not more than
$1,000 per violation, together with attorneys' fees and the costs
of prosecution, and/or to imprisonment in the county jail for a term
not to exceed 30 days.