[HISTORY: Adopted by the City Council of the City of Troy as indicated in article histories. Amendments noted where applicable.]
[Adopted 2-16-1978 by L.L. No. 4-1978 (Art. XIX of Sub-Part C of Part 1 of the 1973 Code)]
By Chapter 738 of the Laws of 1977, the New York State Legislature amended the General Municipal Law by adding § 22 and amended the Insurance Law by adding § 331 and 3410, and said Chapter 738 of the Laws of 1977 of the New York State Legislature provides that outstanding real property taxes and other municipal charges constitute a lien against the proceeds of fire insurance policies and provides for the enforcement thereof in certain cases, and provisions of said Chapter 738 of the Laws of 1977 of the New York State Legislature are incorporated by reference herein and made a part hereof.
The City of Troy may release or return to the insured any amounts to which the City of Troy would otherwise be entitled to claim, provided that the insured agrees with the City of Troy, in writing, to restore the affected premises to the same or improved condition that it was in prior to the time that the lien of the City of Troy against said fire insurance proceeds arose.