As used in this chapter, the following terms shall have the
meanings indicated:
CERTIFICATE OF INSURANCE
.A document issued by an insurance company licensed to do
business in the State of New Jersey, including the policy holder's
name, the address of the covered property, the policy effective and
expiration dates, the type of coverage, the policy limits and the
policy carrier.
The owner of a business or the owner of a rental unit or units
located in the Borough of Seaside Heights shall be required to register
a certificate of insurance annually by January 1 of each year with
the Municipal Clerk as follows:
A. The owner
of any business located in the Borough of Seaside Heights shall file
a certificate of insurance in an amount no less than $500,000 for
combined property damage and bodily injury to or death of one or more
persons in any accident or occurrence.
B. The owner
of a rental unit or units located in the Borough of Seaside Heights
shall file a certificate of insurance in an amount no less than $500,000
for combined property damage and bodily injury to or death of one
or more persons in any accident or occurrence.
C. The owner
of a multifamily home containing four or fewer units, one of which
is owner-occupied, located in the Borough of Seaside Heights shall
file a certificate of insurance in an amount no less than $300,000
for combined property damage and bodily injury to or death of one
or more persons in any accident or occurrence.
Registration of a certificate of insurance is subject to an
administrative fee of $50 annually.