(a) The Director of Public Service and Safety is hereby authorized to use the procedure as set forth in Ohio R.C. Section 3929.86(C) and 3929.86(D) to govern the circumstance where an insurance company licensed to do business in the State of Ohio is required to pay claim for a structure damaged by fire within the corporate limits.
(b) No insurance company doing business in the State of Ohio shall pay a claim of a named insured for fire to a structure located within the City unless the applicable provisions of Section 3929.86 of the Ohio Revised Code are fully complied with. The Director of Public Service and Safety or the Fire Chief are hereby designated as the officers authorized to carry out the duties of Section 3929.86 of the Ohio Revised Code.
(c) The Auditor of the City is hereby authorized to set up an escrow account at a designated City depository. Said account shall be designated as the Fire Escrow Account. Said account shall be for the purpose of holding any funds received for fire damaged structures pursuant to this section.
(1) The Auditor, upon authorization of the Director of Public Service and Safety shall make withdrawals from the account consistent with the section and Section 3929.86 of the Ohio Revised Code.
(Ord. 98-23. Passed 6-8-98.)