[HISTORY: Adopted by the Mayor and Council of the Borough of Red Bank by Ord. No. 14-79 (Sec. 2-68 of the 1987 Revised General Ordinances). Amendments noted where applicable.]
Pursuant to the provisions of P.L. 1978, Chapter 184, no payment to a claimant by any insurance company of any claim in excess of $2,500 may be made for fire damage on any real property located within the Borough pursuant to any fire insurance policy issued or renewed after adoption of this chapter and after the filing of this chapter with the State Commissioner of Insurance, until such time as all taxes and assessments and all other municipal liens or charges due and payable appearing on the official certificate of search shall have been paid either by the owner of such real property or by the insurance company pursuant to the provisions of Section 3 of P.L. 1978, Chapter 184, or the Borough of Red Bank submits to the insurance company a copy of a resolution adopted pursuant to Section 4 of P.L. 1978, Chapter 184.