(a) Council hereby authorizes and adopts the procedure in Ohio R.C. 3929.86(C) and (D) as it currently exists, or as it may be amended, providing that no insurance company doing business in the State of Ohio shall pay a claim of an insured for fire damage to a structure located in the Village unless the provisions of Ohio R.C. 3929.86, if applicable, are complied with.
(b) Any fire insurance proceeds received by the Village pursuant to Ohio R.C. 3929.86 shall be placed by the Finance Director in a separate fund to be used solely as security for the total cost of removing, repairing or securing an unsafe, insecure or structurally defective structure under Ohio R.C. 715.261.
(Ord. 13-19. Passed 5-14-19.)
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