(a) Council hereby authorizes and adopts the procedure set forth in Ohio R.C. 3929.86(C) and (D), and hereby implements the same, so as to provide that no insurance company doing business in the State shall pay a claim of a named insured for fire damage to a structure located within the Village unless the applicable provisions of Ohio R.C. 3929.86 are fully complied with.
(b) The Fiscal Officer is hereby designated as the officer authorized to carry out the duties of Ohio R.C. 3929.86.
(c) To facilitate the implementation of the provisions of Ohio R.C. 3929.86, there is hereby established, pursuant to Ohio R.C. 5705.09, a fund entitled “Fire Damage Structures: Repair or Removal Fund” which the Fiscal Officer is hereby authorized to utilize in carrying out her duties set forth in Ohio R.C. 3929.86 and this section.
(d) The Fiscal Officer shall file a certified copy of this section with the State of Ohio Superintendent of Insurance upon its effective date.
(Ord. 753. Passed 12-1-92.)