A.
The owner of a business or the owner of a rental unit or units, other than a multifamily home as set forth in § 69A-1B below, shall be required to maintain liability insurance for all negligent acts and omissions in an amount of no less than $500,000 for combined property damage and bodily injury to or death of one or more persons in any one accident or occurrence.
B.
The owner of a multifamily home which is four or fewer units, one of which is owner- occupied, shall maintain liability insurance for negligent acts and omissions in an amount of no less than $300,000 for combined property damage and bodily injury to or death of one or more persons in any one accident or occurrence.