HB4038 HFA SCHOEN 2-25

Delegate Schoen moves to amend the committee substitute on page three, line eighteen, following the word "provisions" by striking out the following:
" of section one, article ten-e, chapter thirty-eight"
On page four, line twenty-five, following the word "section" by striking out the following:
" and with section one, article ten-e, chapter thirty-eight"
On page four, following line thirty, by striking subsection (c) in its entirety and inserting in lieu thereof the following:
"(c ) For purposes of this article, the municipality which is the site of any tract of insured real property shall be a loss payee for the purpose of debris removal and shall, as, a loss payee, be the entity not a named insured, which is designated on a fire insurance policy contract as being entitled to a portion of the proceeds of such policy for the limited purpose of debris removal. Such portion shall in no instance exceed five percent of the total value of the policy. In every instance in which an insurer notifies an insured of its intent to cancel or not renew an fire insurance contract or policy, the insurer shall also provide notice to the loss payee of such cancellation and nonrenewal."
And,
On page four, following line thirty-three, by striking out the remainder of the bill.

Adopted Rejected