20Duty of operator to insure village

20 Duty of operator to insure village

(1)  The operator of a retirement village must insure the village and keep it insured to its full replacement value in accordance with this section.

Penalty:  Fine not exceeding 350 penalty units.

(2)  Insurance required by this section must provide, but is not limited to, cover for the following:

(a) damage;

(b) costs incidental to the reinstatement or replacement of insured buildings;

(c) public liability;

(d) the reinstatement of property to its condition when new.

(3)  The regulations may specify the minimum amount of public liability insurance required under this section.