[HISTORY: Adopted by the Township Council of the Township
of Lopatcong 3-1-2023 by Ord. No. 2023-02. Amendments noted where applicable.]
A.
Pursuant to S.B. 1368, codified under N.J.S.A. 40A:10A-1 and 40A:10A-2,
the owner of a business or owner of a rental unit(s) 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 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.
All business owners, rental unit owners, and owners of multifamily
homes of four or fewer units, one of which is owner-occupied, shall
register a certificate of insurance as required by the aforementioned
statute in the office of the Township Clerk on an annual basis, which
office shall maintain a registry of certificates of insurance filed
with it, and each registration shall be accompanied by payment of
$100 as an administrative fee for such registration payable to the
Township of Lopatcong.
