This section 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.
Upon satisfaction of the registration requirements in §
60-3, the Township Clerk 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 one calendar year from the date of issuance.
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.