(A) The village hereby adopts and authorizes the procedures described in R.C. § 3929.86(C) and (D) stipulating that certain fire loss claims within the village are not to be paid by insurance companies to the named insured without complying with the requirements of the village for such payment as set forth in said section of the Ohio Revised Code.
(B) The Village Administrator shall be designated as the officer authorized to carry out the duties set forth in R.C. § 3929.86(C) and (D).
(C) The proceeds received by the village, pursuant to this section and R.C. § 3929.86, shall be placed by the Village Administrator in a separate fund to be used solely as security against the total cost of removing, repairing, or securing incurred by the village pursuant to R.C. § 715.261.
(Ord. 231, passed 5-4-2004)