[HISTORY: Adopted by the Township Committee of the Township of Cranbury 2-27-2023 by Ord. No. 02-23-03. Amendments noted where applicable.]
This chapter implements the provisions of P.L. 2022, c.92, requiring business owners, owners of rental units, and owners of owner-occupied multifamily units to maintain certain liability insurance minimums, and requiring the creation of a municipal business insurance registry.
A. 
Except as provided in § 105-2B, business owners or owners of rental units located in the Township of Cranbury must maintain liability insurance for negligent acts and omissions, at a policy minimum of $500,000 for combined property damage and bodily injury to or death of one of more persons in any one accident or occurrence.
B. 
Owners of multifamily dwellings located in the Township of Cranbury, with four or fewer units, of which one unit is owner-occupied, must maintain liability insurance for negligent acts and omissions, at a policy minimum of $300,000 for combined property damage and bodily injury to or death of one of more persons in any one accident or occurrence.
A. 
Owners subject to the minimum liability insurance requirements provided in this chapter must annually register a certificate of insurance issued by the owner's insurance company to demonstrate compliance with § 105-2.
B. 
To complete annual registration, the owner must file the following documents with the Township Clerk or the Clerk's designee:
(1) 
A valid certificate of insurance supplied by the insurance company that issued the policy;
(2) 
Business name, if applicable;
(3) 
Name of business owner or property owner;
(4) 
Address of business or property;
(5) 
Date of issuance and expiration of insurance policy;
(6) 
Contact information for business or property owner; and
(7) 
Twenty dollar administrative fee.
Upon satisfaction of the registration requirements in § 105-3, the Township Clerk or the Clerk's designee shall issue a certificate of registration to the owner. This certificate of registration shall act as proof of compliance with this chapter. A certificate of registration shall be valid for the calendar year expiring December 31 of each licensed year.
If an owner fails to maintain the required level of insurance or fails to file annual registration, the Township may impose a fine against the owner of not less than $500 but no more than $5,000 by way of summary proceeding pursuant to N.J.S.A. 2A:58-10.