Permits municipalities to place lien on fire-damaged property's insurance proceeds in certain instances and requires fire and explosion insurance coverage for certain individuals.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill allows municipalities in New Jersey to place a lien on the insurance proceeds from fire-damaged properties in certain situations and requires fire and explosion insurance coverage for specific individuals. It establishes a process for municipalities to claim a portion of the insurance money to cover costs associated with repairing or demolishing damaged structures, particularly if they pose an immediate danger. The bill also clarifies definitions related to insurance and property damage, and outlines procedures for handling disputes regarding insurance claims and lien payments.
Bill text
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