If it is determined by the panel that a dog is one characterized as potentially dangerous, the owner, to avoid destruction of the dog, must comply with those conditions outlined in N.J.S.A. 4:19-24. The panel shall specify in writing the date or dates for compliance with all conditions. In addition to the requirements specified in N.J.S.A. 4:19-24, the owner of the potentially dangerous dog must also:
A. Maintain liability insurance covering acts committed by the dog in a minimum amount of $1,000,000 and provide proof of this liability coverage to the municipality to obtain a potentially dangerous dog license.
B. Pay an annual license fee to the municipality of $500.