[HISTORY: Adopted by the Township Committee of the Township of Waterford 11-28-1979 as Ord. No. 79-20 (Ch. 77 of the 1974 Code). Amendments noted where applicable.]
Fire prevention — See Ch. 137.
Pursuant to P.L. 1978, c. 184, a municipality may adopt an ordinance regulating the payment of an insurance claim in excess of $2,500.
Editor's Note: See now N.J.S.A. 17:36-8 et seq.
No insurance company authorized to issue fire insurance policies in this state shall pay any claim in excess of $2,500 on any real property located within the Township of Waterford pursuant to any fire insurance policy issued or renewed after the adoption of this Article and after the filing of said Article with the State Commissioner of Insurance, unless or until the insured person submits an official certificate of search for municipal liens pursuant to N.J.S.A. 54:5-12 certifying that all taxes, assessments or other municipal liens or charges levied and assessed and due and payable against said property have been paid and that demolition is not required or that costs of demolition have been paid.
The governing body may enter into an agreement with the owner of any fire-damaged property to permit said owner to pay in full all delinquent taxes or municipal liens by installments if said governing body is satisfied that the claim for fire damage is to be used to restore or improve the fire-damaged property.