O-2022-08 2nd Read Creating 129 for Renter and Business Insurance Regulations

BOROUGH OF RIVERTON

ORDINANCE NO. O-2022-08

AN ORDINANCE OF THE BOROUGH OF RIVERTON, COUNTY OF BURLINGTON, STATE OF NEW JERSEY, ADDING CHAPTER 129 TO THE CODE OF THE BOROUGH OF RIVERTON CONCERNING LIABILITY INSURANCE FOR OWNERS OF BUSINESSES AND RENTAL UNITS

PLEASE TAKE NOTICE that the foregoing Ordinance was adopted by the Borough Council of the Borough of Riverton at a meeting held on November 16, 2022 at 7:00pm prevailing time at 505A Howard Street in Riverton which was duly advertised.

A copy of the Ordinance may be obtained without cost by any member of the general public at the Clerk’s Office by calling 856-829-0120 on weekdays between the hours of 8:30am and 4:00pm.

EXPLANATORY STATEMENT

Upon adoption, this Ordinance would provide for the Borough the Code to create a new Chapter 129 Pertaining to Liability Insurance.

A certificate of insurance must be filed with the Borough of Riverton in the amount of $500,000 is required for all businesses and rental unit owners. The minimum coverage for multifamily home of 4 or less, one of which is owner occupied shall be $300,000. A multifamily home of 4 or less which is not owner occupied are not exempt from showing proof of liability insurance, and they must obtain and register liability insurance of $500,000.

Attest: Michelle Hack, RMC

Borough Clerk