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S05874 Summary:

BILL NOS05874
 
SAME ASNo Same As
 
SPONSORPARKER
 
COSPNSR
 
MLTSPNSR
 
Add §308-a, Mult Dwell L
 
Requires owner of a multiple dwelling to procure and maintain fire insurance on such multiple dwelling in the amount of the full cost to replace such multiple dwelling; requires owners of multiple dwellings to use insurance proceeds to replace such multiple dwellings; deems void provisions in other documents which are contrary to such insurance requirement; provides that failure to comply with such provisions shall constitute a misdemeanor; gives tenants a right to resume occupancy upon restoration of such multiple dwelling.
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