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DIGEST OF INTRODUCED BILL
Insurance proceeds set aside. Provides that the law requiring an insurer to set aside for local government part of the proceeds from insurance covering a building damaged by a fire or explosion applies to a consolidated city and its county and to any county or municipality that has adopted the unsafe building law by ordinance. (Currently, the insurance proceeds set aside law applies only to certain cities.) Revises current language concerning an insurer's duty to provide notice about the insurance covering a building to the governmental unit in which the building is located. Repeals a definition rendered unnecessary by the act.