State Codes and Statutes

Statutes > New-york > Isc > Article-3 > 331

§  331.  Superintendent  to maintain index of tax districts; insurers'  requirements. (a) The superintendent shall maintain a suitable index  of  tax districts which, pursuant to the provisions of section twenty-two of  the  general municipal law, file with him a notice of intention to claim  against the proceeds of a policy of fire insurance insuring the interest  of an owner in any premises located therein against  which  a  lien,  as  defined by such section exists.    (b)  Such  index  shall  be kept current on a daily basis and shall be  available for public inspection during regular business hours. It  shall  contain such information as the superintendent deems appropriate.    (c)  Every  such  notice  received  by the superintendent shall become  effective on  the  date  of  entry  thereof  in  such  index  and  shall  constitute  constructive  notice  to  each insurer of the tax district's  claim against any proceeds payable pursuant to  the  provisions  of  any  insurance  policy  subject  to  the provisions of section three thousand  four hundred ten of this chapter.    (d) Upon a final determination of an insurer's obligation to  pay  any  proceeds  of  a  policy  of insurance for damages caused by fire to real  property, as such term is defined in section twenty-two of  the  general  municipal  law,  and prior to payment of such proceeds, each insurer or,  in the case of a policy purchased from an unauthorized insurer  pursuant  to  section  two thousand one hundred five of this chapter, each insurer  or its adjusting representative, shall notify the enforcing  officer  of  each  tax district in which the property is located and which is entered  in the index that a loss has been sustained and  demand  in  writing  by  registered  or certified mail that such officer's certificate indicating  the amount of all liens of the district against the property,  including  interest  and  penalties to the date of the certificate, be served, at a  specified address, in person or by registered or  certified  mail,  upon  the  insurer, or, in the case of a policy purchased from an unauthorized  insurer pursuant to section  two  thousand  one  hundred  five  of  this  chapter, upon the insurer or its adjusting representative, within twenty  days from the date of receipt of such demand.    (e) Upon the failure of the enforcing officer to serve the certificate  of  lien  in accordance with subsection (d) hereof, the right of the tax  district to claim against any such proceeds shall terminate.  Within ten  days of receipt of such certificate of lien the insurer shall pay to the  enforcing officer from  such  proceeds  the  amounts  specified  in  the  certificate.

State Codes and Statutes

Statutes > New-york > Isc > Article-3 > 331

§  331.  Superintendent  to maintain index of tax districts; insurers'  requirements. (a) The superintendent shall maintain a suitable index  of  tax districts which, pursuant to the provisions of section twenty-two of  the  general municipal law, file with him a notice of intention to claim  against the proceeds of a policy of fire insurance insuring the interest  of an owner in any premises located therein against  which  a  lien,  as  defined by such section exists.    (b)  Such  index  shall  be kept current on a daily basis and shall be  available for public inspection during regular business hours. It  shall  contain such information as the superintendent deems appropriate.    (c)  Every  such  notice  received  by the superintendent shall become  effective on  the  date  of  entry  thereof  in  such  index  and  shall  constitute  constructive  notice  to  each insurer of the tax district's  claim against any proceeds payable pursuant to  the  provisions  of  any  insurance  policy  subject  to  the provisions of section three thousand  four hundred ten of this chapter.    (d) Upon a final determination of an insurer's obligation to  pay  any  proceeds  of  a  policy  of insurance for damages caused by fire to real  property, as such term is defined in section twenty-two of  the  general  municipal  law,  and prior to payment of such proceeds, each insurer or,  in the case of a policy purchased from an unauthorized insurer  pursuant  to  section  two thousand one hundred five of this chapter, each insurer  or its adjusting representative, shall notify the enforcing  officer  of  each  tax district in which the property is located and which is entered  in the index that a loss has been sustained and  demand  in  writing  by  registered  or certified mail that such officer's certificate indicating  the amount of all liens of the district against the property,  including  interest  and  penalties to the date of the certificate, be served, at a  specified address, in person or by registered or  certified  mail,  upon  the  insurer, or, in the case of a policy purchased from an unauthorized  insurer pursuant to section  two  thousand  one  hundred  five  of  this  chapter, upon the insurer or its adjusting representative, within twenty  days from the date of receipt of such demand.    (e) Upon the failure of the enforcing officer to serve the certificate  of  lien  in accordance with subsection (d) hereof, the right of the tax  district to claim against any such proceeds shall terminate.  Within ten  days of receipt of such certificate of lien the insurer shall pay to the  enforcing officer from  such  proceeds  the  amounts  specified  in  the  certificate.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Isc > Article-3 > 331

§  331.  Superintendent  to maintain index of tax districts; insurers'  requirements. (a) The superintendent shall maintain a suitable index  of  tax districts which, pursuant to the provisions of section twenty-two of  the  general municipal law, file with him a notice of intention to claim  against the proceeds of a policy of fire insurance insuring the interest  of an owner in any premises located therein against  which  a  lien,  as  defined by such section exists.    (b)  Such  index  shall  be kept current on a daily basis and shall be  available for public inspection during regular business hours. It  shall  contain such information as the superintendent deems appropriate.    (c)  Every  such  notice  received  by the superintendent shall become  effective on  the  date  of  entry  thereof  in  such  index  and  shall  constitute  constructive  notice  to  each insurer of the tax district's  claim against any proceeds payable pursuant to  the  provisions  of  any  insurance  policy  subject  to  the provisions of section three thousand  four hundred ten of this chapter.    (d) Upon a final determination of an insurer's obligation to  pay  any  proceeds  of  a  policy  of insurance for damages caused by fire to real  property, as such term is defined in section twenty-two of  the  general  municipal  law,  and prior to payment of such proceeds, each insurer or,  in the case of a policy purchased from an unauthorized insurer  pursuant  to  section  two thousand one hundred five of this chapter, each insurer  or its adjusting representative, shall notify the enforcing  officer  of  each  tax district in which the property is located and which is entered  in the index that a loss has been sustained and  demand  in  writing  by  registered  or certified mail that such officer's certificate indicating  the amount of all liens of the district against the property,  including  interest  and  penalties to the date of the certificate, be served, at a  specified address, in person or by registered or  certified  mail,  upon  the  insurer, or, in the case of a policy purchased from an unauthorized  insurer pursuant to section  two  thousand  one  hundred  five  of  this  chapter, upon the insurer or its adjusting representative, within twenty  days from the date of receipt of such demand.    (e) Upon the failure of the enforcing officer to serve the certificate  of  lien  in accordance with subsection (d) hereof, the right of the tax  district to claim against any such proceeds shall terminate.  Within ten  days of receipt of such certificate of lien the insurer shall pay to the  enforcing officer from  such  proceeds  the  amounts  specified  in  the  certificate.