A. 
Except as provided in Subsection B hereof, the owner of a business or the owner of a rental unit or units shall maintain liability insurance for 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 once 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 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.
A. 
The owner of a business, owner of a rental unit or units, and the owner of a multifamily home of four or fewer units, one of which is owner occupied, shall annually register the certificate of insurance with the Township Clerk.
B. 
At the time of the filing of the certificate of insurance, an annual fee shall be paid to the Township Clerk in the amount of $75.
A. 
Any person violating any of the provisions of this article shall, upon conviction thereof, be subject to the penalties provided for in Chapter 1, General Provisions, § 1-14.1.
B. 
The Township may collect, through a summary proceeding pursuant to N.J.S.A. 2A:58-10 et seq., a fine of not less than $500, but no more than $5,000, against an owner who fails to comply with the provisions of this article.