[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.
