The Borough, through the provisions of this article, hereby
incorporates the provisions of Section 638 of the Insurance Company
Law, 40 P.S. § 638, as amended ("Insurance Company Law''),
which provides the Borough with the authority to require security
in the form of insurance proceeds from an insurance company, association,
or exchange ("insuring agent''), doing business in Pennsylvania, for
the removal, repair, and security of fire-damaged buildings and other
structures subject to fire loss claims.
The Borough Treasurer, or such official's designee, shall be
the designated officer authorized to carry out all responsibilities
and duties stated herein. Any reference to "Borough Treasurer" or
"Treasurer" shall be defined to include the Treasurer and/or the Treasurer's
official designee.
No insuring agent 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 has requested and been furnished
with a municipal certificate from the Borough Treasurer pursuant to
Section 638(b) of the Insurance Company Law ("certificate''), unless there is compliance with the
provisions of this article.